After a very small "dead cat" type of bounce late last week the Dow slipped back into negative territory on Friday. This morning the All Ords is down 2.1% at lunch time and China has opened lower as well down around 1.6% Stocks like BHP are already down over 5%. A fresh wave of selling this week with circuit breakers removed in China and the Fed stuck in no mans land - it could get very ugly.
Aussie shares found some support Monday afternoon, but after the close China nosedived and the SSE finished down 5.26% Will be interesting to see how the Dow responds tonight....
On tonight's MSM, Macquarie wealth forecast that the all ords would rise to 5900 by the end of 2016.. Oh ye of little faith. Regards Errol 43
Here's some recommendations/predictions just before the 2008 crash. http://www.bloomberg.com/bw/stories...siness-news-stock-market-and-financial-advice
RBS says sell everything! http://www.smh.com.au/business/markets/rbs-tells-investors-sell-everything-20160111-gm3ssa.html
Lol. Jp organ says sell the rallies. http://www.marketwatch.com/story/bearish-jp-morgan-says-sell-stocks-on-any-bounce-2016-01-11
A lot of pessimism in the air, and as one of the articles warns, it could become self-fulfilling: "Pessimists warn that unless there is a batch of irrefutably good data from China over the next two or three months, the sell-off could become self-fulfilling and quickly metamorphose into the next global crisis."
The only thing that is certain is that China will be copping the blame for the sell off. If the Fed is presented with an opportunity to deflate or pop the bubble it's created and blame someone else for it.....I reckon they'll take it.
Markets In Freefall: Stocks Extend Worst Ever Start To Year http://www.zerohedge.com/news/2016-01-13/markets-freefall-stocks-extend-worst-start-year Zero Hedge is interesting reading at the moment. Also Market Watch. p.s. Maybe skip King World News: Global Debt Crisis To Increase Worldwide Panic As Historic Super-Bubbles Begin To Burst With the Dow plunging more than 350 points, today a 50-year market veteran warned King World News that the global debt crisis will increase worldwide panic as historic super-bubbles begin to burst. :lol: )
http://mobile.abc.net.au/news/2016-....5-per-cent-early-after-wall-st-slump/7088224 ASX 200 loses 2.5 per cent early after Wall St slump
Just look at the volatility in the gold and silver price over the last few days. Panic is brewing. Will it all settle down, or explode?
I think it's going to explode, but it's really a question of WHEN and WHAT is going to be the trigger. Certainly seems like a bit of a perfect storm is brewing. Maybe we won't get a specific trigger it will just look like everyone's had enough and rushing the exits. This renewed heavy selling in the US overnight has been independent of a Chinese trigger (this time) and I think that's telling....
And in Obamas very last State of the Union, just the other day, he said Americas Economy is the strongest its ever been and the most stable in the world... or something to that effect lol. If we use history to gauge the future its time for Armageddon based on those comments lol
I tried but I couldn't sit through Obamas speech. It made me legitimately feel sick watching him sprout such utter BS and have all those suckups in the crowd standing and applauding on every populist point he touched. If this is the Leader of the Free World then it's no wonder we're all going to get fked.
I felt the same. It's always the same BS. All past US presidents were the same and so was the crowd there. Head jobs all round is what I always think when I see State of the Union address.
I just thought I'd wack it on in the background in my office while I did other things and found myself sitting mouth agape and wondering if he actually believed or even understood what he was talking about... I don't like or dislike him either way, and have mostly not kept too much notice on him over the years. But that address actually made me feel sorry for him, and america, and then the rest of us.... Myself included....
that is ameraican arrogance there, believing THEIR leader is the World leader and the only one that is free. financial Death to America.(after I win the 1.5billion)
