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Bad news:
Banks in record Fed borrowing
Ongoing credit crunch sends commercial banks to Federal Reserve for $105 billion in daily borrowings.
Looks like the plunge is losing steam.
COUNT DOWN Fr 1600 liao. My goodness.
wonder will it hit 1600 below.....long time no see such war liao....stay side line.....ready to buy anytime
The share price of our big banks cannot fall to dirt levels, thk if they go below 1/2 their book value, temasek and GIC will move.
OCBC and UOB at book value now, DBS at 0.8 book value, exactly same level as 2003 Apr SARs bottom, now attempting 1997/98 financial crisis level where they shrink to 0.5 book value.
It will bottom out between now to 0.5 book value, exactly where is anybody's guess and depends on news flow next few days as well as global govt intervention.
Today's slide is already crazy. All panic selling.. but may recover at 1700H
I'll certainly like that. But who knows for sure?
goondoo ( Date: 24-Oct-2008 14:46) Posted:
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U think so? Likely "they" are busy whacking Hong Kong now.
Wait & see how bad is HSI first.
Blastoff ( Date: 24-Oct-2008 14:45) Posted:
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HSI opened with -958, Asian markets knee jerking as well.
Scary, can't recall when SGX stop trading due to STI intra day down of >10%? 97 ?
Dun worry, we are at the end of the tunnel, next fri will be 31st Oct.
Usually capitulation ends in Oct. 4 more trading days next wk to go, see how much it can fall.
Maybe drop 400 pt in 4 days to reach 1200? Then bull run and everybody happy.
Usually capitulation ends in Oct. 4 more trading days next wk to go, see how much it can fall.
Maybe drop 400 pt in 4 days to reach 1200? Then bull run and everybody happy.
Remember Warren Buffet said "Greed when there is fear (now), fear when there is greed"
No one can time the market, except perhaps GOD, so just buy & hold, when market recovers, it can also be fast & furious and you may end up chasing after the bull then.
Market seems to be fighting back now...
Looks like slowing down the plunge at the moment.
Maybe DOW futures now -ve 387 causing concern
don't worry, let it crash big time, then, we all have chance to buy what.. then, the rebound will be beautiful.
Why "greedy" people never come out to support market when so many people are "fearful" selling .?
........
The market is insane now, just hope for sanity to return.
It is now irrational capitulation in a bear end as oppose to irrational exuberance in a bull end
Market is going crazy, everyone is fearful and throwing like nothing...
nervous, now marks 1613.74
Massive selldown. When is the technical rebound???