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STI to cross 3000 boosted by long-term investors
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hpong5
Master |
07-Aug-2011 12:21
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Aug. 7 (Bloomberg) -- The U.S. Treasury Department said there is “no justifiable rationale” for Standard & Poor’s move to downgrade the nation’s credit rating as global finance ministry officials prepared responses to the historic announcement. Standard & Poor’s officials stood by their decision announced Aug. 5 and laid blame on a political system that failed to adequately address deficit reduction in the compromise law that President Barack Obama signed Aug. 2 to avert a U.S. default on its debt. President Barack Obama The Treasury Department issued a statement saying S&P had acknowledged an “error” in its calculations and claimed the rating company made a $2 trillion mistake. Euro-region central bank governors will hold emergency talks today aimed at limiting the market fallout from the U.S. rating downgrade and at stopping Spain and Italy from becoming the next victims of the sovereign debt crisis. The central bank heads will hold a conference call at 6 p.m. Paris time, said a central bank official who declined to be identified because the talks are confidential. The Obama administration worked yesterday to reassure investors around the world that Treasury securities remain a safe place to invest and sought to limit any negative effects on the economy in part by criticizing S&P, according to an administration official who spoke on the condition of anonymity. Meanwhile, some lawmakers said yesterday the S&P downgrade announcement may put pressure on Congress to come up with more significant deficit reduction in coming months. Senator Tom Coburn, an Oklahoma Republican and a member of the so-called Gang of Six that has been working since early this year on a bipartisan deficit-reduction plan, said the S&P downgrade was “probably long overdue.” | ||||
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hpong5
Master |
07-Aug-2011 12:11
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The U.S. stock market will be a crucial barometer when Wall Street opens Monday, and some analysts expect it could rally after the big losses last week. "This may be one of those sell-the-rumor-and-buy-the-news relief rallies," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. | ||||
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chris168
Senior |
07-Aug-2011 12:03
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Lack of political will. The house is burning ... and all they cared was arguing what to give what not to give in .... who has the better bargaining power ...... anything but to put out the fire! Ya really siao ....
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MasterNg9999
Senior |
07-Aug-2011 11:42
Yells: "Isnt Human center of the universe???" |
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Babama has basically make himself into a puppet master with all the jokers around him On Sunday, Senate Minority Leader Mitch McConnell (R-Ky.) and his counterpart, Majority Leader Harry Reid (D-Nev.) sought to disabuse everyone of that notion. " The joint committee -- there are no constraints," Reid said on the Senate floor. " They can look at any program we have in government, any program. ... It has the ability to look at everything." " Let me emphasize the joint committee," McConnell said Sunday morning on CNN's " State of the Union." " In the early stages of this discussion, the press was talking about another commission. This is not a commission. This is a powerful, joint committee with a equal number of Republicans and Senate -- equal number of Republicans and Democrats, and, to make recommendation back to the Senate and House by Thanksgiving of this year for an up or down vote. Think of the base closing legislation that we passed a few years ago for an up or down vote in the Senate." this change the political demographic of US .... and global market is not impressed by it... Cheer
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hpong5
Master |
07-Aug-2011 11:28
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History shows that there is 80% chance of rally the following week after such plunge. Those with holding power will not fear the selloff. Just bet that something "positive" will come out of FOMC next tuesday. Worth a bet for some investors after the recent plunge. I'm willing to take that bet too. After all, like what iPunter says, all are betting. You weigh your own risks tolerance. | ||||
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Joe2020
Veteran |
07-Aug-2011 11:15
Yells: "I am the Oracle sent forth unto you that ye shall be warned" |
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Relax and be calm. Nothing will change even if you jump from OUB tower or let your steam off on someone else les you will regret your action later. The market already factored in these crisis since the debt ceiling issue started and most of us know US will be d/graded to AA. We know price have been going south since July and the reason was, this crisis that we are talking now. For those who do not have a holding power, sell tomorrow and for those who tolerence level is high and afford to hold, hold because, as I said traders and investors alike have learnt alot from the past crisis. I believe most of us too have gone through many of the same one. Yet we are still alive and kicking and still bidding and selling. So what ever happen tomorrow is all depends on our tolerence level not because US got AA. So when market opens tomorrow, trade wisely. If you panic, you are giving your money to those who are conspiring to gain from this crisis and allow those who are behind it to make easy money. If you stand together and defend the position, they are forced to go with you. So you decide. |
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hpong5
Master |
07-Aug-2011 11:02
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My strategy is to buy into weakness aka betting. | ||||
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hpong5
Master |
07-Aug-2011 11:00
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Many are expecting a knee-jerk selloff next week. | ||||
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iPunter
Supreme |
07-Aug-2011 10:52
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Many think that the act of holding is not a bet... But this is not logical... or wrong logic. Whether one is long or short, the act of holding is still a bet, since no one an tell the market's next move...  |
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iPunter
Supreme |
07-Aug-2011 10:46
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As long as one respects the stock market like a casino (eg " all is betting" ), it doesn't matter which course of action one takes. In other words, as long as one realises fully the risk one is in for, one can bet to one's heart's content. By the way, sidelining is itself a betting move...
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hpong5
Master |
07-Aug-2011 10:25
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There are three things investors can do next week. First, sell everything. Second, buy anything. Third, do nothing. Which would you choose? Or maybe, strike a balance among the three? | ||||
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iPunter
Supreme |
07-Aug-2011 09:50
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[" if you did not read newspaper, you are not inform, if you read newspaper you are misinform." ] This is the greatest post of all time... But it's very sad that too many simple brains will believe everything... 
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hpong5
Master |
07-Aug-2011 09:49
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Aug. 6 (Bloomberg) -- The Standard & Poor’s downgrade of the U.S. credit rating was unjustified and calls into doubt the credibility of the firm’s decision, a U.S. Treasury official said.
S&P made a $2 trillion “mistake” and then changed the rationale for its decision, raising “fundamental questions about the credibility and integrity of S&P’s ratings action,” John Bellows, acting assistant secretary for economic policy, wrote in a Treasury blog post today.
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louis001
Master |
07-Aug-2011 09:29
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Politics, money politics, rubbing salt into the wound.. Very sad that a huge country's economy can be taken hostage by credit rating agency, stock analyst, trader Personal pursue of self-interests and benefits to the maximum and fullest, disregard of others...... Individual freedom of speech and expression, with or without responsibility and consequences... Welcome to America..... How are you doing ? |
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Isolator
Supreme |
07-Aug-2011 03:37
Yells: "STI is hard landing to below 2000..." |
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The timing of S& P rating obviously not honest in certain sense.... For some reasons, they need the Dow to drop.... Not sure do they short the markets too..... For the sake of money, they will do anything even at their integrity.... lol |
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andreytan
Veteran |
07-Aug-2011 03:19
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Don't believe in every news you read. there is a saying, " if you did not read newspaper, you are not inform, if you read newspaper you are misinform." those journalist want you to buy their story at time. don't panic, i believe we will see px way higher than prior to mkt crash last friday.. wish everyone here well and safe. so be it...Amen |
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andreytan
Veteran |
07-Aug-2011 03:04
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This guy over at S& P is a junk, what have a late approval to rise the debt ceiling got to do with credit agencies??? they should be more concern on the ability of the debtor to pay. how they are going to pay, does that matter??? does your bank ask you how you got your money to pay your loan? did u borrow it or steal it or ask your mother for money??? did the bank ask you these questions? this guy is truthly a junk??? really. have US defaulted before. since they are always behind the curve and rate junk only when ppl did not pay, why not wait till US cannot pay then rate them, also not too late. OK, you guy take this guy out and whack him. till he become a junk, then i will pay for his koyok. |
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warrenbegger
Elite |
07-Aug-2011 02:27
Yells: "Anyhow Buy Anyhow Die ^_^" |
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http://www.channelnewsasia.com/stories/afp_world_business/view/1145404/1/.html US lingered too long over debt ceiling: S& P official -The United States could have avoided the downgrade of its credit rating if it had lifted its debt ceiling earlier. -The first thing it could have done is raise the debt ceiling in a timely manner so the debate would have been avoided to begin with. -He said that in the past the US debt limit had been raised about 60 or 70 times " without that much debate. -I think there's plenty of blame to go around. They really make a mess/fool of themself. They not only mess with themself, they mess with the whole world economic recovery. Puiii!!! Poor Babama, i think he cry till no sound in toilet liao... He kanna play out... Kanna scam... Kanna Rape... Kanna F**K... Kanna still wondering why like that??? :)
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EdwardLiu
Senior |
07-Aug-2011 00:47
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In last week, STI dives lower 194 points from the opening of 3189 and close lower at 2995. A long black candle sticks with short upper/lower shadow affirms that investors have no qualms in selling their stocks for safety. Friday was the biggest daily loss in percentage terms since March 2, 2009 and its lowest closing level since March 21, 2011. Key Economics Data report: On Friday, S& P reduce the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits. This downgrade came despite President Barack Obama signed legislation to reduce the fiscal deficit by $2.1 trillion over 10 years. For the week, the DOW tumbled 5.75 percent, logging its steepest weekly decline since Mar. 2009 while S& P 500 plunged 7.18 percent posting their biggest fall since Nov. 2008. In addition, both indexes are in correction mode since Apr 29 as they drop of 10 percent from its peak . Volume also at the heaviest level since the day after the Flash Crash in May 2010 with the consolidated tape of the NYSE at 8.18 billion shares, while 2.25 billion shares changed hands on the floor. Technical Analysis on STI STI index has broke the 3000 psychological support area and closed at 2995. 1) In weekly chart, a long black candle sticks with short upper/lower shadow indicates that investors sold indiscriminately reacting to the possibility of double dip 2) The weekly trading volume rose greatly as investors sell on fear. 3) MACD and RSI indicators are bearish as MACD lines cross down. 4) STI is currently supported by the resistance at 2973. 5) The critical support at 2936 is expected to be very strong and likely that bulls will put up a good fight at that level. Important resistance of STI: 3000 (Daily charts) Immediate Support of STI: 2973 (Daily charts) MY tactics: STI has fall 6.1% in last week as fears over the condition of the U.S. economy spread across global markets. We are surprised there are such a huge selling pressure and investors are just dumping their stocks for safety. This could be just the beginning of a steep correction as the market sentiment is being gripped by fear of a new recession. Do not buy now and instead watch for signs of selling eased at the support level before entry. http://singstocks.com/ |
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warrenbegger
Elite |
07-Aug-2011 00:19
Yells: "Anyhow Buy Anyhow Die ^_^" |
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U said like that very danger leh :) So many siao bear outside raping 1 poor bull, how long can the bull endure? Unless some big bull willing to help in short term, if not very hard for bull to win...
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