Closed below 12,000 on more concern about further credit crunch fallout. More volatility to come me thinks.
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Closed below 12,000 on more concern about further credit crunch fallout. More volatility to come me thinks.
DOW down 220 points & DOW Futures down 200 points on Friday = very ugly day on ASX tomorrow.
Watch for the panic selling, followed by the recoup on Tuesday...
My stocks dont seem to get catch up with the general market sentiment.
Probably cos they never go up on green days!
Margin buyers........I think many have come back into this scheme over the last few months- as things appear to have become more stable.
With the Dow again on the skids.............look for some stocks to drop 3-10% as Margineers gets squeezed.
What about all the NZOers on Margin loans......could get ugly?
Hawke.
THE USD is also acting a bit indecisive too...
Well, both the ASX and NZX shugged that off, for today at least.
The Dow is getting close to its primary support level of 11750.
Indications are, it has a better than average chance of falling below that support. If it does the TA target is 11000
see Colin Twiggs Diary,
I would be surprised if the Dow didn't rally from around here: as you say, around a key support level right now. I think we may be around a low for the year in terms of the Dow - time will tell. A Dow chart from around the start of the decade and in particular the levels reached in 2002 tell a story as to where things might spring off in the near future.
So much for my prediction: Dow tanking tonight along with the Naz.
Financials getting hammered - tech stocks getting pasted - gold and oil up, US $ down.
I have to admit that I am surprised that many, if not all, are saying the US is going to be in for a 'mild' recession - when all indicators point to a very long and very deep recession.
Thing is, in relation to the Dow, the reality of a recession hasn't even hit yet, let alone one that could be much nastier than anything in living memory - what is going to happen to the Dow if the USA really does fall into more than a 'mild' recession?
I was expecting a bear market rally off support, but clearly my call was wrong. The Dow will go much lower from here one would expect.