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STI to cross 3000 boosted by long-term investors
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Sgshares
Elite |
06-Sep-2011 21:51
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Is ISM data an impt data to US? | ||||
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louis001
Master |
06-Sep-2011 21:48
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Like it or not, believe it or not........just 1.5 months ago, these are the market darlings/blue chips/value stocks.....maybe another 15 months, they will be back again to tell another story, sing another song... (SINGAPORE) The proverbial falling knife in the stock market has landed on target prices for local shares. Analysts are making significant cuts - particularly for banking, property, and shipping and offshore counters - as the economic outlook grows murkier by the day........./Biz Times 6/9/2011...... |
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MasterNg9999
Senior |
06-Sep-2011 21:36
Yells: "Isnt Human center of the universe???" |
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Woohoo Ah Xing me think the situation is not bad..... will only go worse ........ hehhehehehe....... Swiss Franc Collapses 7% - Swiss National Bank to Fix CHF to EUR and Debase CurrencyCurrency markets have seen massive volatility this morning after the Swiss National Bank decision to fix the Swiss franc to the euro. Gold is trading at USD 1,899.50, EUR 1,339.10, GBP 1,177.30, CHF 1,611.10 (up from CHF 1,486.50 yesterday) and JPY 146,350 per ounce. Gold is down 0.18% in dollar terms and strong physical demand continues at these levels. http://www.zerohedge.com/news/swiss-franc-collapses-7-swiss-national-bank-fix-chf-eur-and-debase-currency " With Immediate Effect"From Simon Black of Sovereign Man " With Immediate Effect" Holy Red Screen, Batman! If you haven’t seen the news, the Swiss National Bank has just announced that it is putting a ceiling on the franc’s appreciation against the euro… effectively abandoning its economic sovereignty and putting its future in the hands of woefully corrupt and incompetent bureaucrats. On the news, the franc fell off a cliff, dropping almost 10% INSTANTLY. Gold priced in Swiss francs jumped from 1497 to 1620 per troy ounce, all in about 45 seconds. Precious metals are now all alone as the only forms of sound money that are truly safe havens. Just 6-weeks ago on July 27th, in a letter entitled “Should I buy gold at its all-time high”, I wrote: “Even stronger currencies like the Swiss franc have limits to their appreciation. At some point, the Swiss National Bank will impose capital controls to thwart the rise of its currency. . . [Y]ou’ll probably feel like a sucker for not buying gold at $1600 when you still had the chance.” Since then gold has soared roughly 20%, and as of this morning, the SNB has imposed capital controls to thwart the rise of its currency. This is just the beginning. The Swiss government has basically told the world that they will print as much money as it takes, and buy up as much crap sovereign debt as they can, to competitively devalue the currency. This essentially puts Switzerland in the same sinking boat as Italy, Greece, and Portugal… with one key difference: Switzerland has 0% interest rates. In other words, you can now borrow in francs at 0% and buy government-backed euro garbage yielding 5%, 10%, 30%…. with absolutely no downside currency risk. Here’s a practical example you can do– open a FOREX trading account and borrow Swiss francs at 0.5%. Buy the EURCHF cross and simply hold euro cash, paying 0.65%. At 100:1 leverage (quite common in FOREX trading), that translates into a 15% return simply for HOLDING CASH with no downside currency risk. It’s free money, courtesy of the Swiss National Bank. I’m just waiting for the next wave of margin hikes. Needless to say, this is utter madness and will absolutely hasten the end game for Europe. A few other points to make: 1) Big Swiss exporters like Novartis and Nestle are dancing a jig right now as this will surely boost their sales in the short-term. Also, banks in Switzerland and Austria who had heavy exposure to Eastern Europe are breathing a sigh of relief right now. You see, Swiss interest rates have traditionally been lower than in Europe’s emerging economies. For example, many Hungarians took out mortgage loans in Swiss francs because the borrowing rate was so much cheaper. Once the Swiss franc began to rise, however, borrowers had a difficult time paying back the loan suddenly their mortgage payment and balance were much higher than before, and default rates soared. Banks in Austria, Germany, and Switzerland who wrote most of the loans were sitting on huge potential losses… and this destruction to the financial system has been mitigated thanks to today’s move. I have to imagine this had some influence in the decision. 2) For all the talk of a pullback in gold, this is only further reason for a rise in precious metals. It’s true that nothing goes up (or down) in a straight line, but given that the world just lost nearly its last remaining safe haven currency, there are few other asset classes to turn to. 3) Markets are not functioning properly. Competitive devaluation means that governments are all striving to out-print each other… Europe is printing as much as they can to bail out the PIIGS, Switzerland just signed up to join then, Japan and China are not far behind, and QE3 is set to launch soon in America. With so much money sloshing around the financial system, there is absolutely no sense of value anymore people cannot invest with confidence given all the massive bureaucratic intervention. 4) In the Swiss National Bank’s brief statement, they said “With immediate effect, [the SNB] will no longer tolerate a EUR/CHF exchange rate below the minimum rate of CHF 1.20. The SNB will enforce this minimum rate with the utmost determination and is prepared to buy foreign currency in unlimited quantities.” The three key words here are ‘WITH IMMEDIATE EFFECT’. This is just another example of a government making instant changes that pose dramatic risk over people’s lives and livelihoods. Make no mistake, we can all wake up tomorrow to a new reality. http://www.zerohedge.com/news/guest-post-immediate-effect Hahah now the Swiss BB and AI turn on their risk aversion mode ........ then only to find out that the stock market is equally bad.... Angmo Hell 616 ..... Cheer |
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des_khor
Supreme |
06-Sep-2011 21:33
Yells: "Tell me who is the God or MFT from this forum??" |
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Expect the unexpected !! The market will recovery as long no new bad news .... btw , only for short term trade .
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xing78
Elite |
06-Sep-2011 21:28
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Situation in Europe not that bad today. At least Swiss is rallying and FTSE is flat. Those dropping 1% or so are from Euro-zone. I believe market has factored in the possibility of Greece defaulting on her payment already. |
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JUNWEI9756
Supreme |
06-Sep-2011 21:26
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Dow 's future was -140 during STI trading hours just now... europe was green then.. Now Europe in deep red and dow's future in deep red. Tmr bye bye. Lol.
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iPunter
Supreme |
06-Sep-2011 21:24
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It need not be a gap down to " tarn tio" ... In any case, gapping down is not the only way to fall... a long black bar is just as juicy for those holding short positions. As long as stocks drop a few cents a day, it is juicy enough... 
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des_khor
Supreme |
06-Sep-2011 21:20
Yells: "Tell me who is the God or MFT from this forum??" |
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No worry..... DOW today drop is expected and market already factor in liao..... This morning very good chance to bargain !!
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JUNWEI9756
Supreme |
06-Sep-2011 21:18
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confirm 500 percent chop noble will drop at least 10 cents tmr.. Lol.
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Sgshares
Elite |
06-Sep-2011 21:14
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Especially those shorted $1.49 / $1.495...if tonight DOW very red then they really got it this time. Very lucky and good foresight. U think tmr will gap down from $1.48?
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iPunter
Supreme |
06-Sep-2011 21:13
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There's big-time carnage now in Europe, and Dow futures too...
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iPunter
Supreme |
06-Sep-2011 21:09
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Those who shorted at today's closingwill " tarn tio" tomorrow... It was a really juicy-juicy peak to short... |
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JUNWEI9756
Supreme |
06-Sep-2011 21:08
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i expected dow to go at least -400 today but its abit over rated.. It depends on U.S whether they want to announce something to push the market up.. If they dont do anything then most probably dow will be very red tonight
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Sgshares
Elite |
06-Sep-2011 21:02
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The US futures looks scary. Will there be another 200 - 300 pts down tonight?
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Sgshares
Elite |
06-Sep-2011 20:51
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Sad n relief at the same time.
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JUNWEI9756
Supreme |
06-Sep-2011 20:42
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congrats to those who shorted today :P
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RachelG
Member |
06-Sep-2011 20:41
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Doesn't look good. DAX, CAC etc all red now. Pray for those who participated in this evening rally. My amatuer view. To re enter stock market when YZJ, COSCO hit 0.90 :) |
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iPunter
Supreme |
06-Sep-2011 20:39
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Europe started very green green... but is now red... Maybe the bloodbath will continue...and the Dow too...
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iPunter
Supreme |
06-Sep-2011 20:27
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The overall situation is really bad... Yesterday slumped nearly 6% but today rose (" Chiong Aaaarrrhhhhhh!!!" ) only 0.2%... and people are very upbeat to buy stocks... lol... |
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belgeran
Veteran |
06-Sep-2011 20:16
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dows futures is peng san because of monday's non trading.... much remains to be seen of US trading... in any case.. if anyone wants live data feed, http://www.forexpros.com/indices/germany-30 ... has the feeds for all indices, including futures, commods and forex... bad thing is u can only see 1 chart.. good thing is the recent quotes section is all live feed )... used to use liveindices.. but the server dies sometimes.. |
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