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Watch this.....
http://www.cctv.com/video/bizchina/2007/09/bizchina_300_20070910_17.shtml
Nw even more convincing...buy now..buy GOLD...buy stock after Oct..or maybe after 2009..
Don' t wait till gold hit headline then it will be a little expensive...2 race are champion of gold
INDIA AND CHINA
http://www.cctv.com/program/bizchina/20070910/104047.shtml
Will see a 4 figure soon..
This is a follow up of my previous post....as the dollar get weaken...and after panic selling of US dollar asset..everything finally look cheap...invester will rush back in to buy up US asset once again ...this time trillion of dollars are coming back home from aboard only to cause super high hyperinflation...this will benefit gold....
So whether inflation or what gold will perform well...buy gold.
Housing bubble so long in the making with easy credit created by previous Alan...will not digest with even 1% reduction of fund rate...not enough...to see lot of forclosures come Oct....becareful...with an eye on the $ which is already below historical support level..
http://quotes.ino.com/chart/?s=NYBOT_DX&v=s&w=1&t=l&a=2
The dollar will weaken by 20% overtime if rate is reduce by 0.5% according to expert..if that happen there will be a run on the dollar...ppl will sell US asset...sell stock..still equate to not rate reduction...I think stockk will gain short term with rate reduction...make use of this opportunity to get out..buy GOLD...and related stock..Look gold already soar...invester and big fund and some central bank know the flight to safety in precious metal with the $ toasted..y not us..buy gold.
Today's buyers are hoping for a DJ technical rebound from Friday heavy sell down. Looking at the buying I do hope they are right coz it will be lotsa $$$.
Heavy volatility expected ahead of FOMC meeting.
Wall Street got back to work on Tuesday following its summer vacation, looking forward to continuing the rally that stocks had staged over the previous two weeks and with hopes that the volatility of the past twoplus months was finally calming. But thanks to a mightily troubling jobs report, the Dow's two-week long winning streak came to an abrupt and screeching halt last week. And with it ended the optimistic hopes that the markets had weathered the worst of the credit market contagion that has roiled them throughout the summer. 'We're in for a very tough two weeks now as investors look ahead to the Fed's meeting and wring their hands over the economy,' said Joe Liro, chief equity market strategist at Stone & McCarthy. Last Friday's August jobs report showed the US economy suffering a loss of jobs that came out of nowhere: Instead of the consensus 100,000 jobs that economists were expecting, the actual figure showed 4,000 fewer non-farm employees on the payrolls, the first such decline in four years. (BT)
Market Overview
| Market Diaries |
 |
| Issues: |
NYSE |
Nasdaq |
|
|
| Advancing |
754 |
664 |
|
|
| Declining |
2,558 |
2,337 |
|
|
| Unchanged |
69 |
92 |
|
|
| Total: |
3,381 |
3,093 |
|
|
| Issues at: |
|
|
| 52-Week High |
13 |
11 |
|
|
| 52-Week Low |
44 |
51 |
|
|
| Volume: |
|
|
| Advancing |
142,238,000 |
207,260,000 |
|
|
| Declining |
1,308,090,000 |
1,671,154,000 |
|
|
| Unchanged |
9,661,000 |
15,670,000 |
|
|
| Total: |
1,459,989,000 |
1,894,084,000 |
|
|
9/7/2007 4:20:00 PM |
|
|
|
|
U.S. stocks tumbled, driving major indexes down nearly 2%, as data showing the first monthly drop in payrolls in four years stoked fears on Wall Street that the economy was headed into recession.
Stocks across the board dropped sharply after the Labor Department said U.S. employers cut a net 4,000 jobs in August, when turmoil in the subprime mortgage market led to a tightening of corporate credit and heightened concerns about the wider economic impact. The report cemented expectations the Federal Reserve would cut interest rates when policymakers meet on September 18.
The Dow Jones industrial average ended down 249.97 points, or 1.87%, at 13,113.38. The Standard & Poor's 500 Index was down 25 points, or 1.69%, at 1,453.55. The Nasdaq Composite Index closed 48.62 points lower, or 1.86%, at 2,565.70.
Hope DOW do recover faster,
and after it have recover,
hope China will not put a fast one,
and go downwards.
Then it will be like a see-saw, between US and China market,
and STI will be sitting on the see-saw, between them both,
cannot go up or down.
Business Week CNN:
Light at the End of the Subprime Tunnel
The Mortgage Bankers Assn.'s new numbers are grim, but the group's chief economist says a recovery, though delayed, is in sight
Henry Paulson : Temp blip in job loss but believe will bounce back next month
It just take some big fund to short the dollars now to make it dive...China got no reason to acc,more so is Japan...in fact they are thinking how to divert out of the dollar..as 1 quarter 2006 Japan no longer buy the doaalr...mainly China...but that wont last for long..
Anyday now...gold is going to soar to stratosphere...this will accelerate if recession come next year..i think we will see a $1000 gold end of the year..
When you have -ve growth for 2 quater,then technically u are in recession....currently there is none in sight,but come Jan,,then we will know more clearly but too late..so i think to sell first,then can alway come back when the picture is clearer....now GOLD is potential...come stock later.
Dates to watch: 11th Sept.
18th Sept
and the month of October.
Very similar scenario compared to the year 1987.
Sept 11 is coming. US problems started way back when the Sept 11 crash happened......
Greenspan: We've seen this turmoil before
Report: Economic bubbles can't be defused through interest rate adjustments, he suggests in speech.
September 7 2007: 1:34 PM EDT
NEW YORK (AP) -- "The human race has never found a way to confront bubbles," Former Federal Reserve Chairman Alan Greenspan said Thursday in reference to the euphoria that can precede contractions, or reactions, like the current market turmoil, according to a published report.
Greenspan, speaking to economists in Washington, D.C., compared the turmoil to that of 1987 and in 1998, when the giant hedge fund Long-Term Capital Management nearly collapsed, the
Wall Street Journal reported on its Web site.
"The behavior in what we are observing in the last seven weeks is identical in many respects to what we saw in 1998, what we saw in the stock-market crash of 1987, I suspect what we saw in the land-boom collapse of 1837 and certainly [the bank panic of] 1907," Greenspan said at the event organized by the Brookings Papers on Economic Activity, according to the
Journal.
Greenspan, now a private consultant, said euphoria takes over when the economy is expanding and leads to bubbles, "and these bubbles cannot be defused until the fever breaks," the
Journal said.
Bubbles can't be defused through incremental adjustments in interest rates, he suggested, the paper reported. The Fed doubled interest rates in 1994-95, and "stopped the nascent stock-market boom," but when stopped, stocks took off again. "We tried to do it again in 1997," when the Fed raised rates a quarter of a percentage point, and "the same phenomenon occurred."
Countrywide plans to slash up to 12,000 jobs
The mortgage lender also says loan originations will be 25% lower in 2008.
See what I mean about these Americans???!!!
Of all times, now they report slashing so many heads - rubbing salt into the wound right?
Now, see what Ben has to say on the 18th this month.
There is lot of speculation on potential RECESSION heading into month of October. As in 1987 October, Dow crashes 23%.
At the moment, cash is king...just ensure you have enough bullets to fight through this roller coaster ride.
Stocks slammed on jobs report
Dow,
Nasdaq and S&P all tank after weak employment number raises worries
about the economy; bond prices surge; dollar plummets.
By Alexandra Twin, CNNMoney.com senior writer
September 7 2007: 5:58 PM EDT
NEW
YORK (CNNMoney.com) -- Stocks slumped Friday after a surprise drop in
August payrolls raised worries that the problems in the housing and
financial markets are spreading to the rest of the economy.
Treasury prices jumped as investors sought safety, while the dollar plunged. Gold prices jumped as well. Oil prices rose.
The Dow Jones industrial average (down 249.97 to 13,113.38,
Charts) lost nearly 250 points, or around 1.9 percent. The broader S&P 500 (down 25.00 to 1,453.55,
Charts) index lost 1.7 percent. The tech-fueled Nasdaq Composite (down 48.62 to 2,565.70,
Charts) retreated 1.9 percent.
For the week, the Dow lost around 1.8 percent, the S&P 500 eased around 1.4 percent and the Nasdaq gave up 1.2 percent.
Next week could start off on a rough note too. After the close of trade,
Countrywide Financial (
Charts,
Fortune 500),
the poster child for the subprime mortgage mess, said it will cut
between 10,000 and 12,000 jobs, or 20 percent of its work force, over
the next three months.
Obtained from Yahoo Finance - closing
| Dow |
13,113.38 |
-249.97 |
(-1.87%) |
| Nasdaq |
2,565.70 |
-48.62 |
(-1.86%) |
Ok...Dow's reading is >
-270 already.
Enjoy the weekend...
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