Stockmarket Blues

BuggedOut said:
If she's too dovish I'll be looking to go long gold on any break above $1200 and if she's too hawkish I'll be shorting bank stocks on the next rally.
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Gold through $1200 :)
 
London is coming to the party. FTSE Down 2.3% shortly after open. Gold is spiking up and they are also pushing the $A down so we have got a serious tailwind going now.

The only thing gnawing the back of my mind is Yellen. Is she going to change her tune and spoil the party?
 
Teetering on the edge. Will we witness a Black Friday event, or will the PPT work their butts off.........
1987 event was on a Monday (U.S.)
 
Japanese stockmarket down almost ANOTHER 5% early this morning, with most of the trading day still left!

The sheet is getting real my friends. I feel sorry for the Chinese when their market re-opens... actually, no I don't - if holding long they deserve what they get :D
 
I think the OPEC rumour might have pulled the market up and it's trying to find a bounce. S&P 500 Futures are up 0.34% at the moment so no panic in the market right at the moment.

Reckon we could see some next week though if China comes online and sells off heavily (to catch up on the week it's missed) but freaks everyone out in the process.

So...maybe Black Tuesday??
 
Japan stock index closing 5.5% down.

Please excuse me while I crawl into my underground bunker.
 
Yeah, and who will hold into Friday's close here in the U.S. Too much happening around the world. It may rally a bit, but it will fade later in the day (??). That's my roll of the dice.
 
May get a bounce today simply because it's been so oversold. Should fade, but maybe not until early next week. US retails figures are out tonight and Fed member Dudley is speaking today who was very dovish a couple of weeks ago saying the Fed may have made a policy mistake by raising rates. If he continues to be dovish he could influence the market's direction and gold's direction into the close.
 
Do we have a good thread on the kyle bass letter on Chinese banks? Baby help but think that will have an impact on Chinese equities and other instruments come the Chinese open.
 
Bass would be sweating on the US dollar rallying from here. If it drops below about 93 on the index, he could get crushed
 
Europe and US looking very green in Friday trade. Up 2-3% so that's some strong momentum there that could easily carry into early next week.

China's open and the OPEC rumour are the developments to watch.
 
Japan rebounding 7.16% today and China shrugging off the week it missed to still only be down -0.48% with a little bit of time still left in the days trade. US Futures are up 1-2% so it's looking like a pretty green start to the week and potentially a sharp bear market rally kicked off.

All of this was triggered by the OPEC rumour of a production cut, which has yet to be confirmed. If that gets discredited we could see a market reversal back into the red just as quick.
 
It still has to get past the other OPEC members including Iran - who are going to be pretty keen to ramp up.

But at the end of the day, a freeze is NOT the same thing as a cut, so the rumour that sparked this rally has proven to be totally bogus IMO.
 
Stockmarket to continue tumble.. was always going to happen, whether it was today or in a couple days.
 
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