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Storm clouds on the horizon

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GentlemanJeff said:
George Soros is calling this the worst financial crisis "since the end of WWII".

http://www.theaustralian.news.com.au/story/0,25197,23090225-643,00.html

Could be very interesting times ahead.
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And he is right imo.

The major reason why people are selling is not the recession America is going to have, as this has been close to a sure thing, for those with both eyes open, for awhile.

It is the imminent breakdown of money markets.

This has the potential to be a worldwide breakdown of very large proportions and will spread into areas that people never even thought of.

The FEAR in our markets is the fear of the unknown, that is what the majority of this is about.
 
Sky business has just reminded us about the day in 1987 the market lost 25% in the day.
 
Scratcher Gillespie said:
He forecast a very positive low double digit return in the Eureka report in early January. Which is, basically, a buy.
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I saw "media watch" give him and the abc management a big kick in the guts late last year, saying his spot on the news was just him getting a heap of free publicity for the Eureka report.

Poor mans Rene Rivkin.
 

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Merv Neagle said:
And he is right imo.

The major reason why people are selling is not the recession America is going to have, as this has been close to a sure thing, for those with both eyes open, for awhile.

It is the imminent breakdown of money markets.

This has the potential to be a worldwide breakdown of very large proportions and will spread into areas that people never even thought of.

The FEAR in our markets is the fear of the unknown, that is what the majority of this is about.
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And do you think Georgey boy hasn't got a short on the market??;)
adding fuel to the fire, i say.... i think you got it exactly right though Merv regarding fear.
 
Merv obviously thinks all them big building's, consumerables, factory's, commodities etc ..that are owned by those ASX listed company's are worth absolutly nothing.

If we lived in Afghanistan or somewhere else where a $10 Kalishnakov and a menacing attitude would get you everything until the next guy with a threatening attitude and $10 Kalishnakov came around and bumped you off.

He would be right. :D
 
Ill look to buy a few shares on Thursday/Friday aslong as Commsec can stay alive for long enough
 
Lyyynnnchy said:
I think the trouble might last a bit longer then Thursday or Friday
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A quick in and outer I was thinking. Buy on Thursday. Shares should go up a small bit. Sell the next day. A in and outer
 
Yeah im just struggling to see any recovery at all for the rest of the week unless it's an very small 1. I did an in and out with Centro and doubled my money but was quite a big risk.

Think I might wait 2 - 4 weeks for a dabble.

I imagine the DOW will have a drop
 

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Lyyynnnchy said:
Yeah im just struggling to see any recovery at all for the rest of the week unless it's an very small 1. I did an in and out with Centro and doubled my money but was quite a big risk.

Think I might wait 2 - 4 weeks for a dabble.

I imagine the DOW will have a drop
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What gave it away, was it the -531 point drop the futures are showing already?....lol
 
Lyyynnnchy said:
Yeah im just struggling to see any recovery at all for the rest of the week unless it's an very small 1. I did an in and out with Centro and doubled my money but was quite a big risk.

Think I might wait 2 - 4 weeks for a dabble.

I imagine the DOW will have a drop
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I done that with "Looksmart" about 7 years ago but got caught elsewhere.

I came to a quick realisation that there were a lot more smarter people than me playing the short term game.

And all I was really doing was playing a day at the races away from the racetrack or TAB
 
Merv Neagle said:
What gave it away, was it the -531 point drop the futures are showing already?....lol
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Big boys Citigroup issued a huge writedown last week that sparked a drop.

Interesting that it was done by the new Citigroup CEO.

I would have punted a guess that he would have made sure they wrote off the whole amount while he was still in his honeymoon period as a newbie in the job. Much like Sol Trujillo did at Telstra after following Ziggy Switkowski into the job.

Northern Rock in the UK has generated its own set of unique problems including lending up to 125% of valuation, Richard Branson is hanging around it like a vulture hangs around a corpse, the British government rescue package only gives it until February 4th to get something worked out finding a buyer/taker for the Northern Rock loan book and if that fails the chances of the British government nationalising Northern Rock go up considerably, including the likening to the United Kingdom to a "banana republic" unless of course the generous Richard Branson's or (Richard Ransom's) offer is taken up.

An interesting night ahead.
 
acker said:
Big boys Citigroup issued a huge writedown last week that sparked a drop.

Interesting that it was done by the new Citigroup CEO.

I would have punted a guess that he would have made sure they wrote off the whole amount while he was still in his honeymoon period as a newbie in the job. Much like Sol Trujillo did at Telstra after following Ziggy Switkowski into the job.

Northern Rock in the UK has generated its own set of unique problems including lending up to 125% of valuation, Richard Branson is hanging around it like a vulture hangs around a corpse, the British government rescue package only gives it until February 4th to get something worked out finding a buyer/taker for the Northern Rock loan book and if that fails the chances of the British government nationalising Northern Rock go up considerably, including the likening to the United Kingdom to a "banana republic" unless of course the generous Richard Branson's or (Richard Ransom's) offer is taken up.

An interesting night ahead.
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I think you misunderstood my post. I was responding to the poster that "hinted" at the DOW dropping tomorrow :cool:

I also believe that there is a very big Chinese institution that will announce losses that will dumbfound the world.

Nothing factual yet, merely rumours at this stage.
 

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