Asian Markets Unhappy tonight off 2% at open

TNHermit · #1 10/02/11, 09:38 PM

Anybody heard anything. i haven't seen anything but haven't been watching real close this weekend.

TNHermit · #2 10/02/11, 09:57 PM

LOS ANGELES (MarketWatch) -- Hong Kong stocks fell steeply in early Monday trading, with financials and resources helping lead the sell-off, as reports said Greece's new budget will fall short of austerity targets. The benchmark Hang Seng Index HK:HSI
-3.39%
plunged 3.3% to 17,017.81 in the early minutes, briefly dropping below the 17,000 level. The Hang Seng China Enterprises Index nosedived 3.9%, while mainland Chinese markets were closed for the week for national holidays. European concerns helped weigh on financials, with Industrial & Commercial Bank of China Ltd. CN:601398
0.00%
HK:1398
-4.71%
IDCBF
-7.41% down 4.7%, China Construction Bank
CN:601939
+0.69%
HK:939
-4.80%
CICHF
-6.25% falling 4.6%, Bank of China Ltd.
CN:601988
0.00%
HK:3988
-6.12%
BACHY
-5.34% suffering a 6.5% hit, Bank of Communications
CN:601328
-0.22%
HK:3328
-4.90%
BKFCF
0.00% losing 4.5%, China Merchants Bank Co.
CN:600036
+0.18%
HK:3968
-5.01%
CIHHF
-6.98% dropping 4.8%, and index heavyweight HSBC Holdings PLC
HK:5
-3.86%
HBC
-5.09% off 3.8%. Losses over the weekend in commodity prices sent
many resource shares racing lower. Aluminum Corp. of China Ltd., or Chalco ACH
-10.54%
HK:2600
-6.32%
CN:601600
-0.12% , tanked by 5.2%; Jiangxi Copper Co.
CN:600362
+0.91%
HK:358
-7.25%
JIXAY
-5.48% took a 7.4% plunge; and energy major Cnooc
Ltd. HK:883
-4.92%
CEO
-5.10% was down 4.6%.

TNHermit · #3 10/02/11, 10:14 PM

Hang Ten is down almost 700 below 17000. There is something going on.!!

Bluesgal · #4 10/02/11, 10:17 PM

yep, anticipation of backlash of the news from Greece. Last month was SOOO bad for the US markets.. At some point this slow burn will explode as I don't see anyone doing anything to put out the smoldering paper...

TNHermit · #5 10/02/11, 10:21 PM

Maybe this will be the week we get to see it all come down. Bank America only needs a quarter (25cents) to go into the tank!! I should be so lucky.

16 cents now. Come on baby crash for Daddy

Bluesgal · #6 10/02/11, 10:32 PM

In your situation that could be good and bad (unless of course you shorted them in the market). While nothing would immediately proceed with your loan, there is a chance that you'd be limbo that much longer. Now that may or may not be an issue to you. As I've said before they have my mortgage as well. My concern is that in ANOTHER sale of paper the info gets screwed up, paymentd don't get credited and I'm in the same boat you are. So for the moment. I"ll take the status quo with them. Better the devil you know so to speak.

As for the markets... In my opninion there is nowhere for them to go but down further. I'm thinking around 5000 to 6000 to level out. I'd love to be wrong and now it's "out there" I"m sure people will remind me of my "prediction".

How does this affect me. Well if I'm right, my financial position will be somewhat less devasted than others, If I'm wrong.. well then I'm still in decent shape. Kinda like my tag line... Prepare for the worst.. Hope for the best.

TNHermit · #7 10/02/11, 10:42 PM

Quote:

Originally Posted by Bluesgal

In your situation that could be good and bad (unless of course you shorted them in the market). While nothing would immediately proceed with your loan, there is a chance that you'd be limbo that much longer. Now that may or may not be an issue to you. As I've said before they have my mortgage as well. My concern is that in ANOTHER sale of paper the info gets screwed up, paymentd don't get credited and I'm in the same boat you are. So for the moment. I"ll take the status quo with them. Better the devil you know so to speak.

As for the markets... In my opninion there is nowhere for them to go but down further. I'm thinking around 5000 to 6000 to level out. I'd love to be wrong and now it's "out there" I"m sure people will remind me of my "prediction".

How does this affect me. Well if I'm right, my financial position will be somewhat less devasted than others, If I'm wrong.. well then I'm still in decent shape. Kinda like my tag line... Prepare for the worst.. Hope for the best.

I know guys are calling for less that 6000 and S%P at 300. LOL. I don't know much but I do know that the whole system HAS to crash and die. And then start over. They guy said the other day that we owe 4 QUADRILLION dollars. World debt. there is no way it can ever be repaid. If it crashes and the big dogs get their buts handed to them maybe a little humility and reality will come back to things.
But I have also heard that there may be a plot to purposely crash the markets so they can declare Marshall Law before the elections. Lots of interesting stuff LOL

Bluesgal · #8 10/02/11, 11:07 PM

Well yes, I've heard that the crash for martial law theory as well. With tin foil hat firmly in place, it's in my mind part of why the troop levels are STILL so heavily supplanted with State Militia's. They can't do anything if they're not here.

The big question is, what happens then.. Will any supplies get in and if so how? What happens to the US way of life if Oil triples in cost, becomes too scarce or both?

On a brighter note.. as we think we see the game plan, we'll be better prepared for it than most.

InvalidID · #9 10/03/11, 12:58 AM

It's Oct.

fishinshawn · #10 10/03/11, 01:06 AM

Quote:

Originally Posted by InvalidID

It's Oct.

What does that mean invalid?

fishinshawn · #11 10/03/11, 01:21 AM

The hang seng is continuing to drop and is down 4.95% Nikkei 225 is down 2.33%

InvalidID · #12 10/03/11, 10:16 AM

Quote:

Originally Posted by fishinshawn

What does that mean invalid?

It means it's October. Historically this is the crash month and if something big and bad is going to happen, likely it happens this month.

Bluesgal · #13 10/03/11, 10:50 AM

Quote:

Originally Posted by InvalidID

It means it's October. Historically this is the crash month and if something big and bad is going to happen, likely it happens this month.

Yep, and I was glad to make it to October, last week was quite volitile. One day at a time. Oil took a dive over the weekend and Gold seems to be up again today.. Strap in. The ride starts again.

InvalidID · #14 10/03/11, 10:59 AM

And it would seem the Goldman is floating the rumor of no bonuses this year. They paid bonuses during the 07-08 crash, no bonuses means something...

Bluesgal · #15 10/03/11, 11:16 AM

Goldman may be testing the waters and seeing what kind of reaction they get and which other companies will jump on that train. Or it's a political ploy.

See told you I was cynic.

InvalidID · #16 10/03/11, 11:25 AM

I think they are trying to ease the protests on Wall St. Somehow I doubt those people will be placated by the lack of multimillion dollar bonuses.

mrpink · #17 10/03/11, 11:46 AM

goldman or non of the other's care about the protester's on wall street. nor do retail investor's/traders. as far as the markets go today, they are to calm. hard to make money when the market don't move. I just wish it would move one way or the other.

TNHermit · #18 10/03/11, 11:47 AM

I see the ISM,Auto and Construction Numbers came in better thatn expected. Who would have thunk??

My gut is tumbling.

BA is at 6.04. there is some rule I read that when it hits the 5's The big corps have to sell out of it or something. Anybody explain that

InvalidID · #19 10/03/11, 11:50 AM

I'm up today about 4%. Short sugar and coffee, long silver, and holding a few shares of OIB (muni's) as I figure so called smart money will be looking for yields in trying times.

InvalidID · #20 10/03/11, 11:51 AM

Quote:

Originally Posted by TNHermit

I see the ISM,Auto and Construction Numbers came in better thatn expected. Who would have thunk??

My gut is tumbling.

BA is at 6.04. there is some rule I read that when it hits the 5's The big corps have to sell out of it or something. Anybody explain that

Lot's of funds have a rule against holding stocks with very low values. Too volatile.