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3801-3820 of 8312
euro open green, dow nw still green..
green all the way la for these few days..haha
look at brasil,mexico ,euro all small lost,,,,,,,,,,,,,,,dont worry lah,,,,now bank of am,,even citi bk reverse gear liao,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,i think they q confident when dow jones touch below 8000point sure got hungry buyer or supporter come out and push push all the way,,,,,,,,,,at least now dont have big problem news going to release,,,,,,,,,,,,,,,,,,,,,,so cheers
Purchasing Index contracted, although less than analysts forecast, it's still a drop. SO dun expect any ups in DJ! I thought just now -63pts was alright that DJ held on well, but now it's dropping to -100pts range again.
not bad, held on well, just dropped -63pts.
ya..... :(
Wow dropping fast and furious... broke 7,900 level liao...
dow start -75 liao....
It's -121 now...30 mins to trade.
tanglinboy ( Date: 02-Feb-2009 21:38) Posted:
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Don't think so lah... now only -94
idesa168 ( Date: 02-Feb-2009 19:59) Posted:
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There is a good chance.... I am seeing 7750 (-250pts) tonight!
Livermore ( Date: 02-Feb-2009 19:03) Posted:
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Looking at Dow futures, 7882.51 could be broken tonight
February 1, 2009
Business Times
By R SIVANITHY
If Dow at 8,000 is artificial, where does this leave the STI?
SINGAPORE - Elsewhere in this issue of BT (see Hock Lock Siew column on Monday) we've pointed out the shortcomings of the price-weighted Dow Jones Industrial Average as a reliable benchmark for the state of the US stock market and economy.
In a nutshell, a big reason why the Dow appears resilient around the 8,000 mark (exactly where it ended after Friday's plunge) is that the index guardians have not removed those stocks which have dropped below US$10 as they have in the past.
For the record, as of Friday there were four such counters - Citigroup at US$3.55, Bank of America at US$6.58, General Motors at US$3.01 and Alcoa at US$7.79.
Readers would note that these are among the stocks most likely to react to bad news from the banking and auto industries but because they have already crashed to rock-bottom levels, their influence on the Dow is severely limited since the index is price-weighted and all price movements are treated equally, regardless of market cap.
To see how distorted a picture the Dow transmits to observers, note that on Friday, a US$3.72 slide to US$54.50 in Proctor & Gamble (P&G) which has a market cap of US$163b cut 29.6 points off the index, while 3M, with a market cap of just US$37b (one-quarter P&G's), exerted almost the same effect of cutting 22 points off because its almost-identically-priced shares fell by almost the same amount - US$2.76 to US$53.79.
Meanwhile, the four sub-par US$10 stocks mentioned above all fell, but only contributed a combined total of 11 points to the Dow's final loss of 148 points at 8,000 despite having a total market value of US$86b.
Still, even if one accepts that price-weights are allowable, the failure to replace the low-priced stocks with higher-priced stocks conveys the mistaken impression that the index is more resilient to bad news than it actually is.
Speaking of resilience - or rather lack of it - traders might have noted that Wall Street's January performance was a 7-9 per cent loss for its major indices, not a particularly auspicious portent for those who believe in the old market adage 'as goes January, so goes the rest of the year'.
It might simply be yet another bit of superstitious market folklore with no fundamental grounding, but if Wall Street had posted a January gain, you can bet your bottom dollar that opportunistic brokers and analysts would have used it to offer hope to the investing public and to urge clients to buy.
The smart money however, would stick to the two central tenets of investing in this new age of high volatility, low returns and bankrupt US investment banks - 'sell into strength' and/or 'buy in anticipation, sell on news'.
Both have proven effective throughout 2008 and again in 2009 and last week's rise before US President Obama presented his stimulus bill to the House of Representatives which was followed by an immediate collapse when the Bill passed leads us to believe there's no reason to expect any different in the weeks ahead, not when US news is expected to somewhat negative.
In its report over the weekend, research outfit Ideaglobal noted that the US Conference Board has said the US jobless rate may reach at least 9 per cent by end-2009 and that Q4 inventory buildup does not bode well for current and coming quarters.
'The 'Bad Bank Plan' may be delayed, according to CNBC. The White House says GDP data shows crisis in housing and financial sectors has spread to all areas of the economy', noted Ideaglobal. On Monday, the Commerce Department will release its December personal income and spending report, which is not expected to be encouraging given rising job losses and deepening anxiety associated with the housing crisis. There are also a slew of earnings reports due, which are expected to add to a volatile week ahead.
There is a sudden drop of Futures from -76pts @5.05pm to -120pts @5.20.....dropped of -50 in 15 minutes. Something very bad must have happened. Even FTSE, CAC & DAX all dropped tremendously during that 15 minutes. Wonder what had happened.
Dow will break 8000 tonight. Futures are very negative now.
Jia lat
Dow has been in trading range since it reached 7882.51. If this breaks, it could go back to the lowest point of 7449.38.
Looking at the movemnt of the DJ, it seems quite confirm it will break 8000.
good chance to break 8000 tonight!
seems like its approaching 8000 soon....
:(
dow red le
I would prefer the mkt to let it drop. If it rally, who dares to pick any counters knowing that the mkt rally while economy numbers suggest the mkt SHOULD drop. High possibilities that it will fall in later days. Like that nobody will enter the mkt liao! The rally will not be sustainable!