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Have alway believe in gold...alway my ambition to see a gold px of US$2600...and this is a reality..
I do not mind all the stock on STI go to zero...so long my gold and gold cheong...if gold hit no need 2600,,,if it go to 1500...the dow will be i guess 8000!!...STI will be 2000!!we shall see.
no wonder tonite gold cheong... gold stock also cheong on Wall Street..keep a lookout for the dollar if u want to the health of DOW...
http://quotes.ino.com/chart/?s=NYBOT_DX&v=s&w=1&t=l&a=2
I sympathise with those contra losses and those got the nerve to buy again...this is no simple one short affair...this housing bubble is some 6 yrs old...time for it to burst..
Tonite got lousy job report...factory jobs down..unemployment go up...
Got a gut feeling tonite dow will be down 3 figure....let hope 100 ..and not 400!!!otherwise monday all died standing.
Hey guy...just log into cnn business only to found that the dollar was badly beaten..it is at 80.2XX...look like the subprime have pull down the dollar as well...when ppl and foreign fund sell the dow..they convert back into their currency..in other word they sell down the dollar''
This subprime problem is getting more and more complicated..sooner...with a weak dollar...it spill over to other sector as well..luck is running out for US...they got all those political trouble in ME...now bridge collaspe..
Sooner one by one the bubble will burst ...send the whole world into depression for 10 to 15 yrs.............dont buy stock...buy gold now!!!
U.S. stocks rose in another late-day rally as enthusiasm about strong earnings tempered nervousness about more weakness in credit conditions with news another mortgage lender may fold. Stocks surged late in the session, echoing the previous day's last-minute rally. Bets the market would drop were reversed after stocks shook off further evidence of a deteriorating lending environment.
The Dow Jones industrial average shot up 100.96 points, or 0.76 percent, to end at 13,463.33. The Standard & Poor's 500 Index rose 6.39 points, or 0.44 percent, to 1,472.20. The Nasdaq Composite Index climbed 22.82 points, or 0.89 percent, to close at 2,575.98.
It was the first time in three weeks that the S&P 500 has risen for two days in a row. But the market is still struggling to leave credit jitters behind for good. Concerns that worsening credit conditions could hurt the economy pushed the S&P 500 down in July to its worst monthly performance in three years.
Wall Street pulls off another winner
Stocks surge in late trading for second straight session, despite subprime, credit market worries.
NEW YORK (CNNMoney.com) -- Wall Street staged another late-session rally Thursday, with the Dow industrials finishing 100 points higher, even amid persistent subprime and credit market fears.
The Dow Jones industrial index (up 100.96 to 13,463.33, Charts) gained about 100 points, finishing nearly 0.8 percent higher.
The broader S&P 500 (up 6.39 to 1,472.20, Charts) climbed over 0.4 percent higher after dipping into negative territory earlier in the session, while the tech-laden Nasdaq Composite index (up 22.11 to 2,575.98, Charts) rose nearly 0.9 percent.
From Yahoo! Finance:
US STOCKS-Profits lift market. but credit concerns persist
NEW YORK, Aug 2 (Reuters) -U.S. stocks rose on Thursday, buoyed by a fresh batch of strong earnings, though further signs of distress in the mortgage market kept investors on edge.
But credit concerns persisted, keeping a lid on gains. Accredited Home Lenders Holding Co. (LEND.O: Quote, Profile, Research), a subprime lender in the process of being sold, raising concern about its ability to stay in business. Its shares plunged 37.3 percent to $5.15 on the Nasdaq.
"We've had a barrage of impressive earnings reports. Every day there are companies with reports that support the market," said Bucky Hellwig, senior vice president at Morgan Asset Management in Birmingham, Alabama.
"But any trickle of negative news regarding what the ultimate outcome will be with the whole debt market, the spread products, the mortgages can quickly offset that."
In a further sign of deteriorating credit conditions, bond insurer MBIA said delinquencies among some subprime home loans that are serviced by Countrywide Financial Corp. Stocks trimmed gains after a government report showed new orders at U.S. factories rose less than expected in June. Stripping out the the volatile transportation sector, the index fell slightly.
| Index Value: | 13,390.25 |
| Trade Time: | 11:47AM ET |
| Change: |  27.88 (0.22%) |
Another subprime lender raises concern
Accredited Home Lenders can't assure its ability to stay in business due to rising losses and mounting defaults.
The US housing is much worse than u think...u think onli US...some as far as the US shore are also involved...read
http://www.businesstimes.com.sg/sub/suite/story/0,4574,243482,00.html?
So..run first..tok later..the article said...there still more cockroaches to come out fr under the fridge....take care...Bernanke said involved 50 to 100b...but..that is onli in the US...outside not included.
NEW YORK (CNNMoney.com) -- Stocks are likely to keep fluctuating Thursday after a volatile session that ended with a late-stage run on Wall Street.
At 4:31 a.m. ET, futures were lower, with a comparison to fair value pointing to a weak start for U.S. stocks.
U.S. stocks surged in a last-minute rally on Wednesday as investors snapped up shares beaten down by worries over deteriorating credit conditions. Major stock gauges zigzagged wildly throughout the session. The Dow swung between positive and negative dozens of times and the S&P 500 changed direction even more frequently. In the final minutes of trading, the Dow turned positive in a 180-point burst higher -- the mirror image of Tuesday's last minute swoon by the blue chips.
The Dow Jones industrial average jumped 150.38 points, or 1.14 percent, to end at 13,362.37. The Standard & Poor's 500 Index gained 10.54 points, or 0.72 percent, to finish at 1,465.81. The Nasdaq Composite Index rose 7.60 points, or 0.30 percent, at 2,553.87. In the last few minutes, several events collided as market participants sold off U.S. Treasury bonds, while in futures trading, investors covered short positions set up earlier in the day on bets the market would continue to fall. Utilities, known for consistent returns and high dividends that are attractive in times of volatility, were the S&P 500's top performers. An S&P index of utilities' stocks rose 2.71 percent.