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-   -   World stock markets plunge (https://gfy.com/showthread.php?t=801239)

ADL Colin 01-21-2008 09:12 AM
World stock markets plunge
 
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

Gasper 01-21-2008 09:33 AM
yay!!!!!

Nydahl 01-21-2008 09:43 AM
my todays lost is 7K USD - nothing but good news lately:mad:

marketsmart 01-21-2008 10:13 AM
Thats why I love FOREX, make money regardless of economic situation....

Quagmire 01-21-2008 10:38 AM
Canada is only down 4%. does that mean we win? yay!

Naughty 01-21-2008 10:49 AM
AEX also more than 5% down.
Lost 24% since december 1st on my funds ;-(

JesseD 01-21-2008 11:02 AM
I think the futures are down 500 now.

teomaxxx 01-21-2008 11:29 AM
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.

Quote:
Originally Posted by teomaxxx (Post 13667268)
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 01-21-2008 11:39 AM
Shit I thought this was a britney spears thread. My mistake.

TheSenator 01-21-2008 12:15 PM
http://www.mercurynews.com/ci_8030355?nclick_check=1

ADL Colin 01-21-2008 07:41 PM
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 01-21-2008 07:49 PM
Quote:
Originally Posted by teomaxxx (Post 13677484)
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 01-21-2008 08:07 PM
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 01-21-2008 08:09 PM
I feel bad for those of you who held on to the tech stocks and didn't short sell.

spacedog 01-21-2008 08:15 PM
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 01-21-2008 08:17 PM
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 01-21-2008 08:22 PM
good thing this business is semi recession proof

zigx 01-22-2008 12:00 AM
Quote:
Originally Posted by ADL Colin (Post 13676953)
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 01-22-2008 12:17 AM
yeahh my google stock went down over $100 in the past month WTF

teomaxxx 01-22-2008 01:55 AM
Quote:
Originally Posted by Axeman (Post 13679877)
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

Quote:
Originally Posted by teomaxxx (Post 13677484)

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 01-22-2008 03:04 AM
GOOG is 549 in Europe

Christina Muller 01-22-2008 03:10 AM
it was all expected unless you live under a rock :thumbsup

NoComments 01-22-2008 06:23 AM
Fed cuts rate 3/4 points

the futures cut 1/2 of their losses

brand0n 01-22-2008 06:24 AM
Quote:
Originally Posted by NoComments (Post 13681546)
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 01-22-2008 06:24 AM
cash rules everything around me


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