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DR_1
Super Contributor
Trend the share price of almost any share (except for gold shares) for the last 15 years, the latest " CRASH", in that context looks more like a correction. So herewith the fundamental question, are we seeing a very sharp correction or a true crash that everyone is talking about. Think how quickly we have recoevered some of those losses this week.
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13 REPLIES 13
Robbie
Regular Contributor
I believe it was a crash and we are still in the crash. From 33000 to 20000 in such a short time have never happened before - a crash does not need to occur in a day or few days. This week was a short term correction. I sold 95% of my portfolio. Maybe next week will be pretty much sideways, but I believe we have not seen the bottom yet. In addition to that, we have the "Africa Factor" here and things are likely to turn sour and explode - also in Zim.
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i too believe the bottom still has to come especially for the jse, reason why i say so. we are hearing every day tv, radio and newspaper how many cars, and houses are being repossessed by our banks, and how many voluntry liquidations and forced liquidations are being done weekly, i have a friend that left the legal trade to return six months ago just because his ex-partners asked him to return because of the anount of badt debt and liquidations they have to handle. Included in that house sales went down as per every other newspaper and banks by 50 %, car sales are down by 25 % from last year. In vereeniging where i live the hub of the secondhand car market the second biggest car sales dealer went bust last week, owing millions to wesbank. Even the standard bank ceo spoke last week on cnbc and emphasised that their bad bedt sharply spiked. So to sum up. We have not yet heard the bad news from the our banks yet and trevor and every other banker keeps on saying our banking system is in good hands and solid, however how long can the auctions that you drive past every day keep going until one or other bank fails and then we shall hit the bottom
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Wizard
Super Contributor
People just don't have money anymore. On Friday night you couldn't find a parking in front River Square. Last night I went there.no problem. Tonight I'll go to Rio Sol and I won't even bother to reserve a table, because I know no one will be there. They know me by name that's how few people go there. What's that car dealer that went bust??
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if can get hold of tuesday oct 28 vaalweekblad it will show the car dealer, the caravan and trailer company that's been in the vaal the past 30 years and one more company that failed
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Been studing charts of hte october crash in 87, which from a TA perspective looks almost identical to this one. Sell offs continued well into 2008 for a lot of shares
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Plenty ppl from the Vaal. Nice
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asylum
Super Contributor
the car dealer is hansie roodt i bought my volvo from them in vereeniging, recieved sms last week that they had closed shop.
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you had the guts to say on public forum i had not
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SimonPB
Valued Contributor
well except that the JSE lost 39% in one day in the crash of '87. Small difference perhaps?
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Wizard
Super Contributor
Ohhh.that will leave a big scar in town.
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Russ
Super Contributor
Is today the 3rd up day since the interest rate announcement in USA?Someone on summit said about a year ago that when specific news affects the market the effect often lasts 3 days. I don't know if reseach supports this but since then I have noticed that this does often happen.If so then this dead cat might purrhaps reach the peak of its bounce today.
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look at the tope 40 in volume every other share is either up or down, no one knows where to
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look at the tope 40 in volume every other share is either up or down, no one knows where to
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