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Down opened down 1000 points (5%) still down around 2%, it doesn't look like its going into free fall... but it is pretty close... NZX 50 probably down another 1-2% today
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Tyre Kicker
The one poster I sorely miss. Very knowledgeable.
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Thanks TJ. Closing 584 points down DOW after being as low as 1000 points 3100 stocks declining 100 lifting.Hilarious the closing bell with lots of clapping and cheering.
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Probably lots of cheering as "its over" goes through traders minds... Its been a while since I've seen traders literally running around the trading floor on Wall Street. 1 Trillion wiped of Europe, probably a similar amount in the US (at least when it was down 7.5% at the start)
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A couple of questions.
Is this a very sharp corrections in equities or something bigger?
There are many companies out there particularly in the energy & resources sector sitting on huge amounts of debt and eroding or even negative cashflow.
This is the sort of time when banks start making short term decisions to try & protect their own capital.
Do we see a raft of debt covenants triggered ?
China has been propping up world growth since 2008 and its seen as a very real problem that they are winding things back.
I think China is quite fixable, as in the listed enities with collapsing share prices on the China50 are all state owned.
My biggest area of concern is that debt particularly around the energy sector & the bank's exposure to it.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision. 
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Mike Hosking says just a healthy correction
Whew ... no worries after all
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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On my rounds and just a little behind..
 Originally Posted by winner69
Mike Hosking says just a healthy correction
Whew ... no worries after all
Did he tap his pen on the table though? Its not official until he does that......
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Haha, yep because he's an expert... I heard he was up at 4am this morning with calving. ;-)
I'm sure he's related to Key as he has the same glib explanations for everything.
Nothing to see here, move along, its not really a problem, its only a little bit.
And the best of the lot. Who cares! LOL
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.
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Originally Posted by drcjp
Did he tap his pen on the table though? Its not official until he does that......
Hosking = shoeshine boy
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25-08-2015, 09:52 AM
#100
Originally Posted by Daytr
A couple of questions.
Is this a very sharp corrections in equities or something bigger?
There are many companies out there particularly in the energy & resources sector sitting on huge amounts of debt and eroding or even negative cashflow.
This is the sort of time when banks start making short term decisions to try & protect their own capital.
Do we see a raft of debt covenants triggered ?
China has been propping up world growth since 2008 and its seen as a very real problem that they are winding things back.
I think China is quite fixable, as in the listed enities with collapsing share prices on the China50 are all state owned.
My biggest area of concern is that debt particularly around the energy sector & the bank's exposure to it.
Daytr, If they are " all state owned" they wouldn't be listed . Are they like MEL , etc ????
btw, being state owned doesn't stop you from going under , Solid Energy, DFC , and nearly Air NZ as an example .
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