World stock markets plunge

[ADL Colin]

Germany down 6%
Paris down 6%
Shanghai down 5%
Canada down 4%
Pan-European Dow Jones Stoxx 600 index down 4.3%

Dow Jones futures down 350 points

yay!!!!!

[Nydahl]

my todays lost is 7K USD - nothing but good news lately

[marketsmart]

Thats why I love FOREX, make money regardless of economic situation....

[Quagmire]

Canada is only down 4%. does that mean we win? yay!

[Naughty]

AEX also more than 5% down.
Lost 24% since december 1st on my funds ;-(

[JesseD]

I think the futures are down 500 now.

[teomaxxx]

fuck, I covered around 20% of my short positions on friday. I have expected a bounce, because of Bush prop plan and some rate cut talk rumours like usual, but fear has come into the markets faster then I thought.

Originally Posted by teomaxxx

Yesterday and today decline isnt mainly about recession, its mainly stupid market who finally figured out, that two of the biggest monoline insurers (ABK, MBI) are going under...as their every other competitor already did it.

these two companies, with current 1.5 bilion market cap, insure around 1.2 trilion of debt.

"Losing the AAA stamp would cripple the bond insurers and throw doubt on the ratings of $2.4 trillion of debt the industry guarantees, causing as much as $200 billion in losses, according to data compiled by Bloomberg."

Their current AAA ratings are biggest joke ever and once they are done (MBI, ABK) and bankrupt, you can talk about immediate 100$ billion write-off in financial industry.
That day wont be great for any stock.

ABK was downgraded to AA just before close on friday by FITCH.


That day wont be great for any stock.


You better read this article to understand what whole game is about.
http://www.washingtonpost.com/wp-dyn...011803592.html

"Everyone thinks they're looking at the cliff over Armageddon," said Ed Rombach, senior derivatives analyst at Thomson Financial. "If you think the write-downs have been bad so far, the next write-downs could be twice as big."

[notoldschool]

Shit I thought this was a britney spears thread. My mistake.

[TheSenator]

http://www.mercurynews.com/ci_8030355?nclick_check=1

[ADL Colin]

Jan. 22 (Bloomberg) -- Almost half of the world's biggest stock indexes fell into a bear market as mounting concern about a U.S. recession dragged down banking and retail shares across Asia, Europe and Latin America.

[Axeman]

Originally Posted by teomaxxx

fuck, I covered around 20% of my short positions on friday. I have expected a bounce, because of Bush prop plan and some rate cut talk rumours like usual, but fear has come into the markets faster then I thought.



ABK was downgraded to AA just before close on friday by FITCH.


That day wont be great for any stock.


You better read this article to understand what whole game is about.
http://www.washingtonpost.com/wp-dyn...011803592.html

"Everyone thinks they're looking at the cliff over Armageddon," said Ed Rombach, senior derivatives analyst at Thomson Financial. "If you think the write-downs have been bad so far, the next write-downs could be twice as big."

Bush's prop plan was a big reason for such a drop in the world markets as it fell much below expectations. If he offered a stronger package that looked at short term and long term goals then the unrest would have been much less severe.

[IllTestYourGirls]

hmm isnt this what Ron Paul said would happen back in 2002? Oh well.. ignore the truth.. your computers will still run, your ipod will still play songs...

[johnuno11]

I feel bad for those of you who held on to the tech stocks and didn't short sell.

[spacedog]

Boy am I so glad my investments more than doubled in less than 6 months

I'm expecting a 300% return in another 6 months, 400% in 12

[NoComments]

Colin,
Japan,
down another 587 points:
http://www.bloomberg.com/index.html?Intro=intro3


and the entire world looks bleak
http://www.bloomberg.com/markets/stocks/futures.html

I am preparing myself mentally for 5 digits loss tomorrow.

I need advice:
who is the best Sig Whore payer in the business!?

Time to put my latex gloves on and hit the key board!

[pr0]

good thing this business is semi recession proof

[zigx]

Originally Posted by ADL Colin

Germany down 6%
Paris down 6%
Shanghai down 5%
Canada down 4%
Pan-European Dow Jones Stoxx 600 index down 4.3%

Dow Jones futures down 350 points

yeah i have been getting fucked up the A this month, thats for sure.

[Fap]

yeahh my google stock went down over $100 in the past month WTF

[teomaxxx]

Originally Posted by Axeman

Bush's prop plan was a big reason for such a drop in the world markets as it fell much below expectations. If he offered a stronger package that looked at short term and long term goals then the unrest would have been much less severe.

actualy his prop plan would be good in short run only for pump monkeys in television to prop stock prices. thats how stock markets work.

but as I stated the main reason for such declines is

Originally Posted by teomaxxx

ABK was downgraded to AA just before close on friday by FITCH.

You better read this article to understand what whole game is about.
http://www.washingtonpost.com/wp-dyn...011803592.html

"Everyone thinks they're looking at the cliff over Armageddon," said Ed Rombach, senior derivatives analyst at Thomson Financial. "If you think the write-downs have been bad so far, the next write-downs could be twice as big."

"

[NoComments]

GOOG is 549 in Europe

[Christina Muller]

it was all expected unless you live under a rock

[NoComments]

Fed cuts rate 3/4 points

the futures cut 1/2 of their losses

[brand0n]

Originally Posted by NoComments

Fed cuts rate 3/4 points

the futures cut 1/2 of their losses

just seen that

morning serge, how ya been?

hows mayflower treating, and how come i havent merrited an invite?

[Fletch XXX]

cash rules everything around me