Market Continues to Get Spanked

[Soultrader 12]

Another warning today... Nikkei is extremely weak breaking out of its morning range downwards. Roughly 750yen difference from its close yesterday.

 

Its pretty bad.... the markets are taking an ass whooping. One interesting thing is that since price traded within a tight range for most for the day, value area is still in the upper half of the daily range. Usually I would develop a long strategy for the following day... but situations are different and there is a big degree of fear in the markets.

 

[sdoma 10]

Usually I would develop a long strategy for the following day... but situations are different and there is a big degree of fear in the markets.

 

I think that perceptions of value are so unstable that value is difficult to trade right now. Where is it, really?

[firewalker 10]

Not claiming to call thé bottom, but here looks like a nice level to put this downtrend to an end...

 

back to 2002:

 

and today:

[Soultrader 12]

Interesting quote here:

 

"Greed and Competition are not the result of immutable human temperament... greed and fear of scarcity are in fact being created and amplified... the direct consequence is that we have to fight with each other in order to survive."

 

-

Bernard Lietaer -

Founder of the EU Currency System

[Soultrader 12]

Interesting documentary worth a watch: http://files.filefront.com/ZeitgeistIIAddendummp4/;12009001;/fileinfo.html

[MC 10]

Interesting documentary worth a watch: http://files.filefront.com/ZeitgeistIIAddendummp4/;12009001;/fileinfo.html

 

Thanks...do you have the 1st one in mp4 format or other good quality. I've seen crappy youtube resolution and didn't want to bother watching it like that.

[Soultrader 12]

Nikkei gaps down over 1,000 yen today temporarily halts due to a limit down.

 

Ive never seen anything like this before. Here is an quarterly chart on the Nikkei... look at where we are, close to the bottom of the last collapse of the Nikkei.

 

But there is definitely a difference in investor emotions. The situation is alot different compared to the previous crash.... as if we are immune to this or since we have seen this before people are not too worried. Though many businesses are going belly flop, banks are still strong here with minimal exposure on the subprime crisis. Though some banks got hurt by lending to Lehman... Any thoughts?

 

[sdoma 10]

Ive never seen anything like this before. Here is an quarterly chart on the Nikkei... look at where we are, close to the bottom of the last collapse of the Nikkei.

 

Check out this Spoo chart. This is un-freaking-believable, we've almost done in 1 year what it took 3 to do the last time, and that time we had 9/11!

 

I look at this chart and I know I'm a trader because it actually induces an emotional response now.

[firewalker 10]

Check out this Spoo chart. This is un-freaking-believable, we've almost done in 1 year what it took 3 to do the last time, and that time we had 9/11!

 

I look at this chart and I know I'm a trader because it actually induces an emotional response now.

 

Yes you have to say it's not even showing signs of climactic action...

At this rate we could even shoot past the 2002 lows. Who would've thought that, one month ago?

 

I don't listen or read what others think usually, but this is an interesting observation, for everybody who considers himself a contrarian:

 

http://www.marketwatch.com/news/story/bottom-still-come-says-one/story.aspx?guid=B344F30B-1D0E-4874-98ED-96602A1B4EC7&dist=SecMostRead

[firewalker 10]

Any thoughts?

 

If you take the big picture account, it doesn't even look that bad... which perhaps is worrying, considering there's no signal of a reversal around the corner...

[Soultrader 12]

Yes you have to say it's not even showing signs of climactic action...

At this rate we could even shoot past the 2002 lows. Who would've thought that, one month ago?

 

I don't listen or read what others think usually, but this is an interesting observation, for everybody who considers himself a contrarian:

 

http://www.marketwatch.com/news/story/bottom-still-come-says-one/story.aspx?guid=B344F30B-1D0E-4874-98ED-96602A1B4EC7&dist=SecMostRead

 

Good read, thanks for this fw. I also do not think the bottom is in place just yet.

 

My mistake at the moment is my own ignorance of currencies.... should of transferred all my USD into JPY months ago.

[firewalker 10]

Interestingly, the S&P hasn't really lost that much when we compare it to other global markets:

 

Oekraine (PFTS index) -73,05%

 

Iceland (Iceland 15 index) -71,07%

 

Servia (Belex 15 index) -68,5%

 

Romania (BET index) -66,33%

 

Bulgaria (Sofix index) -65,88%

 

Russia (RTS index) -60,49%

 

China (CSI 300 index) -59,13%

 

Ireland (Irish Overall index) -58,83%

 

India (Sensex 30 index) -55,07%

 

Turkey (ISE 100 index) -53,85%

 

Belgium (Bel 20 index) -49,09%

 

South-Korea (kospi index) -48,97%

 

Germany (Dax index) -44,31%

 

France (CAC 40 index) -43,26%

 

UK (FTSE 100 index) -43,03%

 

Japan (Nikkei 225 index) -34,69%

 

US (S&P 500 index) -33,61%

 

Switzerland (Swiss index) -30,41%

[firewalker 10]

We're not moving and we're coming to a standstill!

 

Price refusing to go lower and completely flatlining. You don't see this very often

EquityIndexPriceLimitGuide.pdf

[method 10]

Wow, weird considering that the the dax has fallen quite a bit over the past hour

 

EDIT: just read your post again, missed the 'limit down' part the first time round....

 

Looks like the dax is going to break the 4k figure at this rate, its free falling.

[bootstrap 47]

gonna be a fun day....wooooooooooooooooooooooooooooo son!!!!

[bootstrap 47]

i don't trade it, but just heard that the S&P is limit down

[vinodg 10]

Last couple of week's economy of any country is really bad. Due to this bad economy most of the people in my country have lost their jobs. I really feel bad about it.

[sevensa 10]

Last couple of week's economy of any country is really bad. Due to this bad economy most of the people in my country have lost their jobs. I really feel bad about it.

 

What is your definition of "most people". Most to me would mean more than 50%. Are you saying that more than 50% people there lost their jobs? That sounds like a stretch to me.

[MHJ 10]

There really is no way that the market will make a comeback any time soon. Huge economic downturns take years to straighten out