Blood on the floor.

[biker]

Ahhhhhh. Love that smell of napalm in the morning.

[tommy]

More blood being spilt.FTSE down 163 already tonight.

Yeah, look at Europe all bleeding... the entire world needs a transfusion badly!

http://finance.yahoo.com/intlindices?e=europe

Worse to come according to DOW futures, might have to get ready for another nosedive tomorrow:

http://money.cnn.com/2007/08/16/mark...atch/index.htm

Another pounding for stocks
U.S. futures point to lower open as credit fears keep battering sentiment; global markets plunge.
August 16 2007: 4:44 AM EDT


LONDON (CNNMoney.com) -- U.S. stocks are likely to take another pounding Thursday, even as Treasury Secretary Henry Paulson attempted to alleviate fears about the economic fallout from the turmoil.

At 4:31 a.m. ET, Nasdaq and S&P futures were lower, with a comparison to fair value pointing to a negative start for Wall Street.

Paulson told the Wall Street Journal that the turmoil in financial markets will slow U.S. economic growth but should not spark a recession.

In a report published Thursday, he told the newspaper that some funds or businesses may go under as a result of the turmoil, but that he expects the U.S. economy to keep growing.

Stocks have been on a downward spiral with no signs of the credit situation improving. The blue-chip Dow Jones industrial average, which tracks 30 big U.S. companies, fell to a four-month low Wednesday.

Investors rushed to safe-haven investments like Treasurys on Wednesday, leading the Fed to pump another $7 billion into the banking system.

Taking a cue from Wall Street, overseas stocks plunged overnight. Stocks in Asia plunged, and major European markets fell sharply after the open.

In major corporate news, biotech Amgen (Charts, Fortune 500) said late Wednesday that it will cut 14 percent of its staff and warned that 2007 earnings won't meet forecasts.

[ananda77]

...very high volatility accompanied the first successful 5650 test today with the All Ordinaries closing at 5712; the high volume suggests a huge shake-out of the panicky hands -one or two more tests may follow

...at the same time the Dow continues to test 12800 and if again closing above this level overnight, we will most likely see a very good day tomorrow with the All Ordinaries retracing to the 50%-level

some info for the bored:

Financial Meltdown: A "Slow Motion Train Wreck"

by Stephen Lendman

http://www.globalresearch.ca/index.p...xt=va&aid=6551

...and one to potentially keep nerves calm in the event of future crashes:

http://money.cnn.com/magazines/fortu.../23/100135590/

Kind Regards

[FTG]

It is times like these and the tide is rapidly going out that we learn "who isn't wearing togs". The severity & speed of the current decline is clearly amplified by the amount of leverage (e.g. CFD's), right down to retail traders, in the market.

On one hand there are some extremely juicy looking prices on the offer. On the other hand rationality is not prevailing at the moment. There are a lot of headless chooks running around. From a technical perspective prices can still fall a lot further. Despite all the fundamental indicators pointing to the fact that companies are undervalued.
Hence if one jumps prematurely (as I'm sure lots have already over the last few days) one can not only burn their fingers, they can lose them!
I would suggest that capital preservation should be a primary objective. Buying at the moment is not for the fainthearted. Certainly not for the "average" share investor.
This is a classic battle between Fear & Greed. If you can't really afford to lose money then DON'T buy tomorrow. Let the dust settle, however frustrating that may seem.

[ananda77]

FTG:

...nothing wrong with what you say, problem is, with this kind of thinking, making a buy or sell decision becomes a theoretical game

...buy at a major support line -no matter what- if you think, it's too late...and keep in mind:

markets are subject to change

Kind Regards

[FTG]

Absolutely ananda77.

I guess my heart just goes out a little to those here who have been taking a bit of a bruising over the last few days. Rightly or wrongly my sense is that there are a few here on ST licking some serious "wounds". I would also venture to say quite a few of those folk are facing quite a dilemma. Do I buy for a potential big rebound? Or do I hang it tough for a while?

A bit like a punter who has lost a few hundred on Roulette but still has their last $100 in their pocket. Black or Red, Black or Red, Black or Red? When perhaps all they should do is call it a night!

[Footsie]

One thing for sure folks

just as the sun will rise, the market will recover.


At the end of the day, trust your instinct and buy value......

a growth stock on a fwd p.e of 10 with div yield of 5% IS VALUE

and i can name a few!!

sure u might have to stomach being down 10% if u get the timing wrong.... but in 2 years time u'll be sitting pretty.

[FTG]

One period that always sticks in mind was October 1987. What an exciting, yet harrowing time it was.

On Friday 16th October (US time) the Dow dropped 154 points. At that time it was the biggest points drop for a day in the history of the Dow! Of course in those days there wasn't blog sites but believe me there was lots of "chat" in the market. What will Monday 19th October be like!? How big will the rebound be!?

Of course the rest is history, but a lot of "smart" people learnt a few lessons that Black Monday.

[OneUp]

FTG

Black Monday.

Yep the Dow tanked that day. But within 3 months the index was hitting new highs.

[trendy]

Hah! I have been buying Canroys too. Mostly Baytex and Harvest. And you?

Skinny got into Harvest at a 16% yield....looking at ERF and few others. These are for my income investment basket....


As for market today it woud have hammered the quant funds again and any leveraged fund forbvthat matter. HF redemption requests had to be in by yesterday for September. Next two weeks will see more forced liquidations for redmemptions and margin calls.

Have to wait for the smoke to clear too see what is left to buy.