world stock markets crashing

podborski says on Jan 21, 2008, 03:44:

my dream scenario is to be able to buy Microsoft cheap, under $25, maybe WalMart at $40, some Canadian banks at 30% cheaper than today (Cdn banks are great investments, they have protected domestic markets)

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RAAAY says on Jan 21, 2008, 05:28:

The most recent figures are even more dramatic.....................It's probably a good thing that Wall St is closed today......



London's FTSE 100 nose-dived 5.5% to stand at 5,579 as it fell under 5,700 points for the first time since July 2006. The Frankfurt DAX crashed 7% to 6,787 and the Paris market tumbled 5% to 4,819 - the first time it stood under 5,000 since August 2006.

.........Its useless to argue with ignorance

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Rob77 says on Jan 21, 2008, 06:38:

It's have a nice effect on the dollar here, up around 50 pesos this morning!

BOYCOTT CITGO - CHAVEZ SUCKS!!!

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podborski says on Jan 21, 2008, 07:10:

I'm wondering RAAAY if the closed US market is better or worse? Maybe people will sleep on things and calm down by tomorrow, or maybe they will panic? Maybe they are selling whatever they can on foreign exchanges which are not as liquid?

Hate to see people lose money, but I do love these interesting times, makes for opportunities if you keep your head on : )

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podborski says on Jan 21, 2008, 07:16:

aussie and NZ dollars are getting hit, unwinding of the carry trade, plus, like canada, they are resource sellers, so if the world slows, they will slow too.

CDN$ is down under 97 cents US after hitting 1.12 a very short time ago.

I'm telling you, it's not time yet, but soon it will be a once in a lifetime chance to buy US stocks cheap, with a cheap dollar to boot.

I rarely have a REALLY strong opinion about predictions (typical economist, on the one hand x on the other hand y), but this is shaping up to be a perfect storm (that's a real cliche now huh?)

Of course, the benefit of the low USD only applies if you are a non US resident, like me.

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podborski says on Jan 21, 2008, 07:43:

wow, India was down over 11% at one point today! Ended up down 7.4%

IGBC is down almost 7%, Brazil as well

it will be VERY interesting to see what happens tomorrow when NY is open

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scotty says on Jan 21, 2008, 11:03:

the sneezing has begun.

Get Rhythm, when you got the blues. Johnny Cash

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houstongal says on Jan 21, 2008, 11:12:

Ugh....I'm fearing a bloodbath tomorrow. A great time to buy though. I've been putting off putting $ into my IRA, but this now looks like a good time to add to my portfolio.

"It is now official: there's no place on earth where you will not find a Peruvian band." David Sedaris

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slguy says on Jan 21, 2008, 11:22:

I sure don't want to be chairman of the FED tomorrow. He must be sweating bullets.....

Before you throw me out, make sure I pay my bar tab

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miamimike says on Jan 21, 2008, 11:35:

I'm thinking for the US it will be temporary. Big Ticket Blue Chip Companies (GE, Caterpillar, Boeing ect) have huge International customer backlogs of Orders for Locomotives, planes, defense equipmnt, Earthmoving equipment ect. Its not as dire as it sounds,,,a lot of these people will bail on the market as they did in oct '87, on 9/11, and now and take a bath financially. I'll bet Warren Buffet is on a buying spree this week coming.

Why You should buy GE Stock TODAY at $33/share: http://www.usatoday.com/money/perfi/columnist/krantz/2006-01-23-ge_x.h...

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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gringoloid says on Jan 21, 2008, 12:40:

HG, I wouldn't jump into the market right now. I have a feeling things are going to get a whole lot worse.

The equity stock markets are a fraction of the debt markets. I think the big trouble is going to come from the debt market.

Prudent Bear and Rydex has gone up 30% since October. I'm checking into it but tomorrow there is a Treasury Auction of 3 month bills.....and that is where I'm going to be.

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houstongal says on Jan 21, 2008, 13:19:

GL...I have now until April 15 to put the $ into my IRA for the 2007 tax season. At some point I just need to do it. These are long-term holdings so I prefer to get in when the market is down and hold on.

"It is now official: there's no place on earth where you will not find a Peruvian band." David Sedaris

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Man Tequila says on Jan 21, 2008, 13:29:

This is ugly, but like you say should have some longer term opportunities.

Aunque no me creas/ si me lo propongo/ lograre olvidarte/ porque a fin de cuentas/ no soy tan cobarde./ Y termino todo una de estas tardes/ no sera dificil buscar algún sitio donde refugiarme/ donde nunca mas vuelvas a encontrarme. (Polo Montañez)

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scotty says on Jan 21, 2008, 21:26:

could be worse, the Mayans say the end of earth as we know it will be on Dec 21, 2012.thats only 4 years from now.

Get Rhythm, when you got the blues. Johnny Cash

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goin_south says on Jan 21, 2008, 21:27:

that's 12/21/12.... humh

Ciao! Gustav.

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scotty says on Jan 21, 2008, 22:41:

yea, according to the Mayans and the oldest Indian tribe in north america the Hopi tribe the wolrd will end as we know it on 12/21/2012. kinda makes the recent problems seem small huh?

Get Rhythm, when you got the blues. Johnny Cash

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Man Tequila says on Jan 21, 2008, 22:55:

The Mayans and the Hopi agreed? Geez, scotty, there must be some things you don't buy.

Aunque no me creas/ si me lo propongo/ lograre olvidarte/ porque a fin de cuentas/ no soy tan cobarde./ Y termino todo una de estas tardes/ no sera dificil buscar algún sitio donde refugiarme/ donde nunca mas vuelvas a encontrarme. (Polo Montañez)

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scotty says on Jan 21, 2008, 23:52:

not only do the Mayans and the Hopi agree on this date so did Merlin of England. So dont worry about the stock market alot worse is on the way.

Get Rhythm, when you got the blues. Johnny Cash

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podborski says on Jan 22, 2008, 02:37:

can one of you ask the Mayans if I should jump in and buy today or wait?

asian markets hit hard again today (Tuesday)...

I always sell too soon and buy too soon...

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Medellin Traveler says on Jan 22, 2008, 05:24:

FEDS CUT RATES 3/4 OF POINT!

It's getting interesting!

"Huevos Rancheros en Medellin, No Quiero Taco Bell." - www.medellintraveler.com

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slguy says on Jan 22, 2008, 07:57:

.75 rate cut in advance of the meeting? somebody's awful nervous- and showing it.

Before you throw me out, make sure I pay my bar tab

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scotty says on Jan 22, 2008, 12:11:

they are trying to get through this with out to much damage

Get Rhythm, when you got the blues. Johnny Cash

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goin_south says on Jan 22, 2008, 18:18:

Let's not ask the Mayans and the Hopi's... (although the last one does have., uh... good feel to it.. but,).....

LET'S JUS GET LA_CAMPINA ON HERE... I trust him.
Whatever he says,... it's as good as gold!
(well, maybe.....FOOL'S GOLD! jjejajj)
Camppppppp! donde esta?

Ciao! Gustav.

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scotty says on Jan 23, 2008, 19:39:

the mayans cant do any worse than the Fed

Get Rhythm, when you got the blues. Johnny Cash

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podborski says on Jan 24, 2008, 05:13:

helicopter Ben to the rescue!

Good thing I am sitting on the sidelines in this one, I would have been slaughtered. I can't believe the fed cut has had this big a reaction...I bet Ben is even surprised.

Very well respected (great results managing many billions) Jeremy Grantham is very bearish...I have to side with him. This is just a temporary reprieve.

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Man Tequila says on Jan 24, 2008, 17:55:

I think the US will just avoid a depression. I think Ben did the right thing even though it made him look very nervous. I hope he doesn't know something really bad that I also don't know.

Aunque no me creas/ si me lo propongo/ lograre olvidarte/ porque a fin de cuentas/ no soy tan cobarde./ Y termino todo una de estas tardes/ no sera dificil buscar algún sitio donde refugiarme/ donde nunca mas vuelvas a encontrarme. (Polo Montañez)

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podborski says on Jan 24, 2008, 18:17:

I don't see a depression either...but some excesses have to get wrung out.

Just saw an interesting article that pointed out the US was advising latin american countries that went through similar credit market collapses a few years ago to let the market work, wring out the excesses, don't bail anyone out.

Yet look what they are doing now...

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goin_south says on Jan 24, 2008, 21:28:

some have said, the Duck is a lil Goofy, but...
I thought Google was a bargain at $550 yesterday

Not that I bought any, but 2 years from now, probably wished I had

Ciao! Gustav.

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podborski says on Jan 25, 2008, 09:01:

I dunno g_s...I wouldn't be buying it, but I am part scottish, I look for good stuff cheap not great stuff expensive

it's caused me to miss out on some good stocks before.

I did think it looked good when it came out at $85, but $550? I'm too chicken

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goin_south says on Jan 25, 2008, 23:13:

I'm a lil fowl myself.

Ciao! Gustav.

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scotty says on Jan 30, 2008, 02:06:

maybe not crashing after all, maybe just a slow down??

Get Rhythm, when you got the blues. Johnny Cash

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podborski says on Jan 30, 2008, 08:33:

I am completely baffled right now (not a new feeling).

I really think the market should be at least declining, if not crashing.

So either I am just early (again) or else I have no idea what is going on. I think it's 50/50 which one it will turn out to be : )

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podborski says on Jan 30, 2008, 08:48:

yeah I'm just too chicken to buy financials...I worked for them for so long I know what kind of crap they could be hiding : )

I'm not getting killed luckily, I am just sitting on the sidelines, which I do far too much of. I tend to wait for the perfect stock at the perfect price...doesn't happen too often.

I was hoping for a real panic drop so that I could load up, but we know that didn't pan out.

Must be the cheap canadian in me, I can't buy stocks that aren't screamimng bargains jaja!

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scotty says on Jan 31, 2008, 03:03:

today the european stock market is trading down, however, the asian market is trading up.

Get Rhythm, when you got the blues. Johnny Cash

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gringoloid says on Jan 31, 2008, 06:58:

I usually don't open these economic or political threads up because a lot of the opinions are based on propaganda shovelled out from the mass media.

But my take is that this recent turbulence in the financial markets is only in the beginning stages.

I think the downside is in the debt market and not in the stock market. The stock market is a fraction of the debt market. Throw in some currency problems too.

So what the hell.......everybody is always asking for a time frame.........so I say, June of 2009, there is going to be a major financial collapse of some kind. I really want to say October but the election would be in the way.

This is just a hunch, I have no idea when or what things will happen. But all you financial experts reemed me earlier this year when I called the current downturn.

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podborski says on Jan 31, 2008, 07:33:

so it looks increasingly like the "crash" was woresened dramatically by soc gen selling off in a panic the huge position that rogue trader had.

now how smart was that?

hard to believe the french would just panic like that? (couldn't resist that jaja)

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podborski says on Jan 31, 2008, 13:55:

well at least I was right about not buying google, down $45 in after hours!

g-s...I hope you are reading this...no more i-pod, you can call me google guru

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