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Market way too Negative?

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Not applicable
Seems so to me, the $700bn bill is very likely to be passed , say economists, the media says otherwise. but seriously, down nearly 4 % ? this is far too much IMO, I have never seen such attractive valuations, we are on a PE of 10, and intrest rates are going to decrease next year
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25 REPLIES 25
kwagga
Super Contributor
Many, many people still seem to miss the bigger picture here - http://www.321gold.com/editorials/mathid/mathid092908.html The *****e has hit the fan. If the Americans do not protest against this bill, then they're even more ignorant to the problems of their country then the Zimbabweans.
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kwagga
Super Contributor
The DOW has been testing the 10800 support level for some time now. I think the time is ready for it to be broken and plunge into the 9000's. Time to fasten those seatbelts.
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Wizard
Super Contributor
These are not the times to look at valuations...When earnings fall so are the equity prices adjusting for the PE ratios. Unfortunately at current uncertain time the rate of fall of the prices is higher than the rate of fall of the earning and as such makes it a very bad time to be Bullish in the market!
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john_1
Super Contributor
All that has been happening is the shorts who got squeezed have been getting thier own back...we just bounced off the 100% retracment from when the "No Shorts" rule was impemented.
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_nova
Super Contributor
DOW made a nice bounce off 10800 (shorts covering and now the kitty has bounced and back DOWn we go. I also think that 10800 will fall today. The very last thing you should be looking at right now are PE's. USD700bn is just a plaster on a festering sore. When the shorts get back in on 2 Oct they are going to punish the SEC for artificially propping the market
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john_1
Super Contributor
As far as I know they have still been buying the hebie geebies out of PUT opptions.
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Not applicable
It really is quite ridiculous... A little bit of consolidation in the banking sector can't be such a bad thing. It's also really quite irrational that the $ should strengthen because of the debt nationalisation (aka "bailout") bill. More supply of $ should mean weakness. The problem is that the $, like all Americans, is stupid and irrational, which makes life unpredictable for all of us.
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Brazen
Super Contributor
Frightening to watch innit? Just seems to be no floor under this.
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john_1
Super Contributor
Brazen..Its pritty rough but I recon watch gold and if it spikes hard put you cash in your matress. and short the *****e out of the alsi. I have been short for days...this is like printing money
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DST
Super Contributor
Latest on the 700
The House of Representatives will vote on the bill on Monday, said House Financial Services Committee Chairman Barney Frank, a Massachusetts Democrat.

But the Senate faces more complex problems in passing legislation and sources close to the discussions said a vote would not come before Wednesday.

So still cheaper till Wed with uncerainty, then its still either/or time?
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Wizard
Super Contributor
Short term it's a good news for the $...The market will tell us later that it was bad!!
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Not applicable
Another complaint I would like to add, for attention the powers that control the market, is that in this crazy situation that we see of a strong gold price together with a strong dollar, i.e. strong rand gold price, the gold miners shares are still negative.
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barry_1
Super Contributor
This is a market crash,for sure, i'm buying gold call warrants as gold acts as a safe haven in these circumstances.Things have happened too quickly,but i expect gold to rally.Remember in the case of put warrants there has to be buyers at the lower prices to make the thing work.
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venice
Super Contributor
Why why why does everyone try to rationalize a market. You can't no one ever has, it just is.We are going down now it is just the sentiment at the moment end of story. Remember the market only finds a bottom in panic when when even the tough traders go "holy cr#p" it can't go any lower. Just be patient and you will get your rewards another bull its just not yet.
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Wizard
Super Contributor
not everything is rational in the market! They will come right, when u least expect them to!
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Not applicable
I hold GLDSBA in addition to long DRD SSFs. The Newgold warrants have certainly served me better up to now. The mining companies have not kept up with the gold price increase. Also, with all the volatility, the SSFs tend to suck up all one's available cash at the most inopportune times. I've never used warrants before (I find the maths much more complicated than SSFs), but the past two weeks have made a believer of me.
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Wizard
Super Contributor
Moving the problem for another day is the answer...There are greedy politicians involved here which need the votes from the blinded public. They also want to drive expensive cars.like we do!
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Not applicable
Just to bring some cheer to an otherwise rather sad thread - three things to be grateful for: (1) that I don't own Lonmin; (2) that I don't own Merafe; (3) that I don't own Old Mutual.
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barry_1
Super Contributor
i'm sure u know that GLDSBA is rather a toxic warrant with only 37 days to go,good for a quick rise though,i'm plugging SB calls in HAR and GFI
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