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1-20 of 28
no bear, just a prolonged correction ? long pull back ??
Bid today, all Green, green and green
It is going green for sgx, good for today, taking a cue from DOW
Since grandma is out, bring in the grandson lohh...or even great grandson, can break even liao, now can run again, let grandma hv a rest lohh...
grandmother is more "original" than the mother mah, must have grandma before mama.
Holy smoke!!!!!
Dow down 1% and Nasdaq 1.7% now .... Whole world's grandmothersssss all run out now!
Hi Mamasan, I thought it should be the other round, if the market is very bullish, then grandmothers will come out also.
Oil mkt px is down to US$68, tomoro up or down ??. Can support go up above STI 2,330 level ??
if continue to drop, grandmother also come out liao.
The present correction is not as worst as the meltdown in 1997. It is just a lull before recovery take places. Those who currently continue hoping to take profit by playing with margin or contra are trying to commit suicide quickly. In the meanwhile, hope they will keep out of the market until the downtrend reverses, and live frugally.
There are lots of uncertainities in the global economy. US economic growth is slowing down and this is made worse by rising inflation. To fight inflation, US Federal Chief, Ben Bernanke has to raise interest rate. But raising interest rate is going to slow US economic growth even more. High oil price is one of the main causes of inflation. With new refineries taking 4 years to build, oil price shall likely remain high till 2010 when new refineries come online.
The US housing market is also slowing and will restrain other household spending. I remember when George Soros was in Singapore a few months ago, he predicted a world recession in 2007 due to a "bubble burst" in the US housing market. If that happens, the US economy will slow down as 2/3 of its economy depends on the US consumer. The Fed meets on 29 June to decide on a possible rate hike. Now if interest rate continue to rise, the US consumer will find it more difficult to pay his housing loan.
If there are many US consumers who have borrowed beyond their means for their homes, the bubble predicted by Soros can become a reality. China is not ready to be the largest economy. The US is still the largest economy at the moment. Once the US consumer loses his ability to spend, the world economy could go into a recession.
global meltdown... people now talking about committing suicide and borrowing money to repay debts.
The selldown occured globally. Cheap funds added to the liquidity which was leveraged and found its way into the global financial markets. The rise was orderly for 2.7 years and became frenzied in the last 3 months, when mkts hit multi year highs. It took core inflation in the US to knock it down. BUT inflation may be creeping but is only the catalyst. What is more hidden is a spectrum of events, from housing boom to unbridled consumer spending etc etc and the spectre of a global economic slowdown and signs are there. Catch hold of Bank Credit Analyst (or BCA) recent report on Inflation and it will become apparent.
Charts can now be thrown out of the windows and dont hope against hope. (Judging by the numbers who flock here for the free charting service.) It is impt for us retailers to also understand the macro economics aspects to arrive at a judgement. How long this saga will take, nobody knows. A rebound may jolly well be on the cards but brings little relief. The thing to do is preserve capital and minimise your losses, to fight another day. Watch for signs of strength and sell into it.
The FED is talking up rates to calm inflation fears and to show they are not behind the curve. come Jun 14, will be CPI numbers.....watch it. The markets have already priced in a 25 basis points hike on June 29. If June 14 CPI numbers show inflation abating we may not even see a june 29th hike or at most a last one followed by a pause. But what we have to contend with if it is not inflation, then must surely be "slowing US and global economy"....so be prudent.
Cheers and Take Care
Ya, like Bernanke, etc..
Our market is directly influenced by US, Japan, others..
They're down, we're out!
Mamasan I agreed with you. MAS has not been doing anything since May 15th up till now. A drop of 1.5 to 2% daily on the indexes, how much that work out?
Hi billywows,
I disagree. They used to be crazy about American football and not soccer. But not any more. Soccer is now growing in popularity and the American team's standard has improved tremendously. They will be playing in the World cup. In fact, the women's team is the best in the world.
may be americans are setting a trap for football crazy countries, push down so everyone panicked and run. then buy back during world cup, and sell again after ..
I believe MAS should do another survey, considering the recent sharp fall in stock markets.
Dow's up today ... Shiok!
By the way, most American don't watch world cup cos they don't dig soccer - unlike Europe, Asia and etc ... It will be mind-blowing for us if US market rallies next week while we are drowsy over world cup!!?!!
Makes me wonder if I should position myself this week since our local market is down so much now .... How much more lower can it go with our better economical results announced today, huh?Hmmm ....