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Eish, its red!!!

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Regular Contributor
Looks like a bad start to the week. Why - other than Dow's poor Friday?
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23 REPLIES 23
Super Contributor
Short lived rally in a fully fledged bear market. Your question should rather be - Why did it go up ?
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Not applicable
Asia markets down, US futures down, perhaps we are being driven by negative sentiment?
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Super Contributor
The inevitable reality catching up with the rally :) E.g. car companies in US are in trouble. The GM CEO was fired, their plans were sent back as not good enough. Basically, the govt isn't messing around - pretty hard-line stance.
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Super Contributor
Im short agl, ams and inl. First green i have seen in a long time
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Super Contributor
Platsak - I sold a bunch of platinum shorts late friday. Dang :) Still, rather be safe than more sorry!
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Super Contributor
opening jitters locally!....if the Rand keeps weakening again towards ten to The Dollar and the prices of commodties dont go down any further then we are likely to see a rally in our prices ,sometime this week....if i understand gaps correctly then the prices are likely to close up ,to close this mornings gap at some time.
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Super Contributor
I am starting to get a feel for the direction of the market. Timing is still difficult for me. I missed out seriously on SBK. Wanted to go short from 89. Turned well ahead of my target.
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Not applicable
GM and Chrysler's proposals were rejected (Guess nobody saw that one coming, I mean they had 3-4 months to turn themselves profitable). If they go down, there will be blood. Even if the US tries to print them out of trouble, these guys are running in such big losses, it's a matter of time. Don't say we didn't warn them. Would be nice if we could go into the archives of the forum...
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Not applicable
If i get me 100 % iam out with my shorts on AGL
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Frequent Contributor
I think that at least one of those big three automakers will fail. There just isn't enough demand for those gas guzzling machines they make. When one fails, then there should be enough demand for the other 2 to keep them in business... but until then, i think there'll be some rallies and some really big bears, mostly bears though. Lots of red to come. Steel mining shares are going to take a beating. OMO, and I'm not sure I'd put a lot of money on it cos it's just a guess.
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Frequent Contributor
I think that at least one of those big three automakers will fail. There just isn't enough demand for those gas guzzling machines they make. When one fails, then there should be enough demand for the other 2 to keep them in business... but until then, i think there'll be some rallies and some really big bears, mostly bears though. Lots of red to come. Steel mining shares are going to take a beating. OMO, and I'm not sure I'd put a lot of money on it cos it's just a guess.
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Super Contributor
I keep getting the feeling we're going to find out what capitulation *really* means this year
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Super Contributor
GM's CEO resigned. I guess his knee pads are worn through and his feeling the pinch. GM makes me think of shoe patch. I use to put the stuff on my old tennis tekkies to save my parents some money every now and then. Problem is the stuff makes your shoes slippery as hell and it never lasts. The new CEO should try it on this inherited knee pads. What a hopeless situation - begging for money every few months just to keep things going. Nothing more than social welfare. They really stuffed it up this time around. China asking for a new fiat currency. Some very interesting times we are living in.
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Super Contributor
so i take it the big bad bear is showing its face again? people were starting to say we have heard the worst of the worst and theres basically nothing else left to damage us further...hmmm
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Not applicable
They were saying that a year ago as well
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Super Contributor
The thing is you can't really know. There were a few up-indicators in the U.S. so everyone was predicting the end of the bear. Enough for me to wonder pretty hard if it could be so. But the bank plan means banks will have to take some pretty hectic writedowns, we still don't know what's up with the car companies, and the housing indicators only showed a brief slowing the pain, like many brief slowings before. If they keep losing 650k jobs per month for the next year, who cares if the rate doesn't change? If people keep losing jobs, that has to affect property, and cars, and consumer goods. And us. The slowdown is fully in effect in the U.S., is getting there in Europe and developing markets and we're just thinking about it affecting us. The US markets have touched multi-decade lows...ours have only touched 2004/3 prices AFAIK.
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Super Contributor
And no - not talking my book :) Today am sitting with one long-term hold and no SSF's. When it gets too low or too high, I'll buy again.
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Not applicable
If GM closes, that 650k jobloss figure will be something they will be begging for.
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Super Contributor
I dunno about "close", though. I figure chapter 11 at worst, and that'll just mean they can restructure without any moaning from labour or their dealers, which would actually make it easier to fix quickly. Even if they did somehow close, there will be a million companies who will pick up the parts and continue. GM is many car companies - be silly to ignore the wealth of toys and capability it must have. And long before it gets there, the government would do everything it could to keep it alive in some form.
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