Why the sell off today?

[whatsup]

Why the sell off at the end of the days trading on an otherwise flattish day?

[digger]

Why the sell off at the end of the days trading on an otherwise flattish day?


Long weekend coming up.Expect any bad news to come in next day or so.

[macduffy]

Why the sell off at the end of the days trading on an otherwise flattish day?

A bit of lack of nerve?

Following Wall St's example last night and fear of a repeat.

[COLIN]

Why the sell off at the end of the days trading on an otherwise flattish day?

AIA and CEN seem to be two of the main culprits, for some reason or other - some large-scale dumping of "Specials" at the end of the session, by institutional investors - likely from overseas and linked to FX.

[Anna Naum]

AIA and CEN seem to be two of the main culprits, for some reason or other - some large-scale dumping of "Specials" at the end of the session, by institutional investors - likely from overseas and linked to FX.

I am told there was a Market on Close benchmark sell order.

[GR8DAY]

Tel was looking strong right to the end then some off market discounted trades went thru that distorted the days end price.....not sure why they allow that to happen?....I was in positive territory there for a while and it felt bloody good!

[Cannibal]

From the Rich Dad emails I got today from Richard Kiyosaki

"Now the suckers are rushing back into the stock market—but the smart money is exiting the stock market. Big institutions are getting out of the market, leaving the amateurs behind and at great risk. A crash is coming, and those investors who aren’t quick with their money will be wiped out."

– Excerpt from Robert’s Conspiracy of the Rich bulletin

[peat]

I reckon theres a lot of nervousness and people are keen to be out of the market at the times when they cant sell. That is they're scared of overnight gaps. Its been quite noticeable on the S+P lately how the market will climb during the day and then get hit at the end of the session.

[digger]

From the Rich Dad emails I got today from Richard Kiyosaki

"Now the suckers are rushing back into the stock market—but the smart money is exiting the stock market. Big institutions are getting out of the market, leaving the amateurs behind and at great risk. A crash is coming, and those investors who aren’t quick with their money will be wiped out."

– Excerpt from Robert’s Conspiracy of the Rich bulletin

Volumn not big enough for that to be happening. The kiwi sell off is more likely the latest world finanical jitters and the Korean situation and also middle East problems. About every two weeks now we have to have a world market meltdown for some reason or other.Maybe in long run a good thing.In fact in my wish list i would have a finanical meltdown every decade to sort things out.If left too long the mess gets pushed aside too much until a major is required to fix it up.

[darksentinel]

I took a quick peek on DB at some of the stocks I watch, and the volumes traded between ~4:30 and 5:21 are generally small. I.e. in the order of $10000 or less, which seems a bit low for any institutional investors unless they're reducing a tracking fund or somesuch.

[COLIN]

I took a quick peek on DB at some of the stocks I watch, and the volumes traded between ~4:30 and 5:21 are generally small. I.e. in the order of $10000 or less, which seems a bit low for any institutional investors unless they're reducing a tracking fund or somesuch.

Don't know which shares you were "peeking at", DS, but my "peek" on the DB depth shows an entirely different story, e.g. the following volumes went through after 5 p.m:
FBU 898,000
AIA 871,000
CEN 195,000
TEL Several million
Don't forget that its the relative weightings in the NZX50 that are the key; these are the biggies, and when they dip at the end of the day it has a significant impact on the overalll index performance.

[darksentinel]

Don't know which shares you were "peeking at", DS, but my "peek" on the DB depth shows an entirely different story, e.g. the following volumes went through after 5 p.m:
FBU 898,000
AIA 871,000
CEN 195,000
TEL Several million
Don't forget that its the relative weightings in the NZX50 that are the key; these are the biggies, and when they dip at the end of the day it has a significant impact on the overalll index performance.
Hmmm, ok that's more serious than what I saw :P. Lately I've been paying a lot more attention to mid caps, and less to the blue chips, my mistake.

[Dr_Who]

From the Rich Dad emails I got today from Richard Kiyosaki

"Now the suckers are rushing back into the stock market—but the smart money is exiting the stock market. Big institutions are getting out of the market, leaving the amateurs behind and at great risk. A crash is coming, and those investors who aren’t quick with their money will be wiped out."

– Excerpt from Robert’s Conspiracy of the Rich bulletin

He should give us some fundamentals to back up his theory. Hence I dont agree with him. The so called "smart money" got slammed dunk during the financial crisis and missed out on the sharp recovery recently.

All the numbers coming out of the US is a recovery and parts of Asia pacific regions growth figures are too good so they have to put on the brakes. This leaves only the EU zone still in deep poo poo. EU only makes up around 10% world trade, so expect only a minor slowdown in global growth. The main concern now is in China property bubble. If China property bubble dont burst, we can continue to see an expansion going forward by the end of 2010 or early 2011.

I agree we are heading for a tough year or two, but not a crash.

[belgarion]

US market up 2% today. Sellers got suckered. Still looks like a bottoming process to me.

[bull....]

agree b looks like US may be finding support , stuck in a 9800 to 10250 range break of either confirm short term moves
NZ needs to break above 3060 to change my mind on 2800.

[whatsup]

Why the sell off at the end of the days trading on an otherwise flattish day?

Back up today to the late sell off level yesterday, all be it on the back of a stronger DOW !!!

[Hoop]

US market up 2% today. Sellers got suckered. Still looks like a bottoming process to me.

Bottoming process? ..could be... hard to know ..however there are faint signs appearing ..one being the shorters jumping in on technical weakness on Wednesday (bear trap as it happened) and got their bottoms kicked for their efforts. Other indicators are mixed thereby causing uncertainty, however one indicator the US$ index although still in an uptrend looks from my viewpoint very toppy and looks well overdue to correct and it could result a bigger than normal correction if situational history repeats. Due to the timing of the Euro crisis the US$ 84 correction due point never happened therefore creating an unsustainable uptrend. If that is the case and an US$ fall results the network influence would see a sharp rise on the Equity markets especially Downunder and Asia as the commodity shares would get an extra boost with momentum + commodity market price rises.

However this has not happened so my post is hyper theoretical at this stage.

My US$ chart ..sorry... a bit cluttered with my doodling ..caution ..its has simple and perhaps not totally correct methodology and contains approximate values....


http://i458.photobucket.com/albums/qq306/Hoop_1/US03062010.png

[belgarion]

NZ needs to break above 3060 to change my mind on 2800.

Won't breach 3060 today ... What an anemic start! Just pathetic!

[whatsup]

Why the sell off at the end of the days trading on an otherwise flattish day?

Sell off again today , down to where we finished yesterday , disappointing for a good strong day world wide except- you guessed it "good ode N Z "