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Friday, 12Th November, 2010: Black Friday


Realistbear
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Yep, its contained. Another Black day cancelled. :angry: :angry: :angry:

Ireland denies bailout being hammered out with EU
Europe.
11:19, Friday
12 November 2010
DUBLIN (
Reuters
) - Market talk that a rescue package for Ireland is being hammered out with its European partners is untrue, Ireland's finance ministry said on Friday.
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There's something about a Black Day Thread that cheers the soul. :lol:

You start out with a cheery disposition only to find the Banksters win the day and everything resumes on its eventual (eventual) path of self-destruct.

FTSE 100 5797.11 -0.31%

GOLD 1385.70 -23.20 -1.65%

$ = Euro 1.36756 £1.60416

NEW YORK (AP) -- Stock futures are falling as investors worry that China might try to curb its surging economy to combat inflation.

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£12b worth of welfare cuts leads to a 100 page thread pretty much calling for the extermination of anyone on less than £20k a year.

£750b guranteed by Cameron so that rich people who have gambled and look like they could lose don't even have to suffer the tinest loss- meh

Welcome to the brave new world of right-wing thinking.

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Stock futures are falling as investors worry that China might try to curb its surging economy to combat inflation.

They could always end the peg and stop gaming the system.

If they don't Ben will simply print up some more money and inflation will become unbearable in China

The federal reserve stand ready to alter the size and scope of QE should market conditions require.

The politicos want jobs, jobs and more jobs pronto - devaluation in the quick fix and politicos like quick fixes.

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I thought the guarantees were made by Brown et al.

And the cuts are a direct result of Labour mismanagement and profligacy.

Correct, and they were rightly criticised for it.

Cameron has just pledged to join the EU in providing financial gurantees to Ireland so that bond holders don't have to take a haircut.

This is worth far more than the piddling cuts made so far.

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£12b worth of welfare cuts leads to a 100 page thread pretty much calling for the extermination of anyone on less than £20k a year.

£750b guranteed by Cameron so that rich people who have gambled and look like they could lose don't even have to suffer the tinest loss- meh

Welcome to the brave new world of right-wing thinking.

Let me guess, you are one of those Socialists who have been in power for thirteen years.

But of course instead of keeping check on your political masters you let them run riot.

Now you are in oposition you suddenly feel the urge to keep the politicians in check.

Where the hell were you during the last thirteen years?

Asleep at the wheel or too busy swilling champagne and feeding at the trough.

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Let me guess, you are one of those Socialists who have been in power for thirteen years.

But of course instead of keeping check on your political masters you let them run riot.

Now you are in oposition you suddenly feel the urge to keep the politicians in check.

Where the hell were you during the last thirteen years?

Asleep at the wheel or too busy swilling champagne and feeding at the trough.

great post

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Let me guess, you are one of those Socialists who have been in power for thirteen years.

But of course instead of keeping check on your political masters you let them run riot.

Now you are in oposition you suddenly feel the urge to keep the politicians in check.

Where the hell were you during the last thirteen years?

Asleep at the wheel or too busy swilling champagne and feeding at the trough.

Err I've never voted Labour in a general election......but well done for missing the point anyway.

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Update:

8:00 FTSE 5747 - open

8:10 FTSE 5710 - low for the day thus far

8:25 FTSE 5730 - you start thread

9:30 FTSE 5763 - i give good natured joshing

10:30 FTSE 5794

10:50 FTSE 5815 - positive for the day, and 100 points off the low. Now closing in on 100 point gain since you started the thread.

12:30 FTSE 5809

US trading should be interesting

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Who do you think might be one of the biggest bond holders of Irish debt?

Lose if we do, lose if we don't.

Basically praying that the 'guarantee' never gets called upon, versus a big haircut for UK banks, pension funds, taxpayer etc.

So you support massive government intervention in private business deals if it is your pension or savings that are on the line, but if a tiny fraction of that is spent on welfare it is some kind of sick socialst plot......

I'd like just once for one of the STR crew to admit it was THEM who got bailed out by Brown and the rest of us who are paying off their debts through decreased services and increased taxes.

Just so long as the hypocrisy is out in the open I'm fine with it :)

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Update:

8:00 FTSE 5747 - open

8:10 FTSE 5710 - low for the day thus far

8:25 FTSE 5730 - you start thread

9:30 FTSE 5763 - i give good natured joshing

10:30 FTSE 5794

10:50 FTSE 5815 - positive for the day, and 100 points off the low. Now closing in on 100 point gain since you started the thread.

12:30 FTSE 5809

US trading should be interesting

Stephen Bernard, AP Business Writer, On Friday November 12, 2010, 7:01 am

NEW YORK (AP) -- Stock futures rose dramatically on Friday with an opening 200 points higher as investors cast of their worries that China might try to slow its surging economy to combat inflation or Ireland might default.*

___________________________

* Kidding.

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Its all contained and the recovereh is locked in.

Its a buy day--but get in before the markets rise 2% by the close--maybe more?

Another hindsight call, RB? going by your OP and thread title, it isn't a buy day?

Might have to wait until next year now for a HPC as I can't see much happening with sentiment riding this high--as Nationwide poll seems not to suggest.

...unless something tomorrow tells you otherwise?

Edited by Lepista
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You're really confusing me with your contra-indicator status - am I supposed to be selling now?

Does anyone know these days?

One minute Ireland is going into bankruptcy and the next there is market euphoria and a buying frenzy underway.

Just look at the FTSE which is a strong buy today: FTSE 100 5805.07 -0.17%

Even gold is attracting buyers: 1388.50 -20.40 -1.45%

Sterling having a buy day too with only small lossers vs the Euro and $: 1 GBP $1.60948 Euro 1.17392

Overall, I would call it quite a strong contrarian market as all that good news out there is triggering the buyers as indicated by the red ink on all the SMs at present. But that is not to say that the containment will cause the buyers to turn things around by the close. That is, unless some good tractor production figures are released and who knows what that might do to oil futures.

Bottom line: Whats your call? And how can you be so sure?

Edited by Realistbear
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Nia Williams, 12:51, Friday 12 November 2010
LONDON (
Reuters
) - The top share index pared losses on Friday after market talk of an EU
rescue package
to resolve Ireland's debt woes sparked a recovery in the banks...../
"These rumours could all be complete puff and nonsense but the market likes it," Yusuf Heusen, senior sales trader at IG Index said.
Royal Bank of Scotland (LSE: RBS.L - news) was one of the top performers on Britain's blue chip index, adding 2.7 percent and reversing losses from Thursday when investors fretted over the knock-on effect of any possible Irish default.

Silly, silly investors thinking RBS would lose money. Tut....

There you have it. Black Friday cancelled after promise of more debt creation. :lol:

Edited by Realistbear
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Let me guess, you are one of those Socialists who have been in power for thirteen years.

You can call New Labour many things, but 'Socialist' is NOT one of them.

Generally, Socialists don't approve of deregulating financial services, selling off public assets, allowing tax loopholes for the rich, etc, etc..

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Another hindsight call, RB? going by your OP and thread title, it isn't a buy day?

...unless something tomorrow tells you otherwise?

In case you haven't noticed, I sometimes wear my Synical Sam* hat to poke fun at sheeple-think.

No way there can be a black market day with the central banks ready to bail out anything that might cause a panic. What we are seeing is the ongoing implementation of the Brown Plan: nothing fails, no bust, debt will solve all.

__________________

* Cousin to Tautologous Tim who also appears from time to time to poke a bit of fun at the markets.

Edited by Realistbear
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£12b worth of welfare cuts leads to a 100 page thread pretty much calling for the extermination of anyone on less than £20k a year.

£750b guranteed by Cameron so that rich people who have gambled and look like they could lose don't even have to suffer the tinest loss- meh

Welcome to the brave new world of right-wing thinking.

What is this £750bn guaranteed by Cameron, have I missed something?

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Correct, and they were rightly criticised for it.

Cameron has just pledged to join the EU in providing financial gurantees to Ireland so that bond holders don't have to take a haircut.

This is worth far more than the piddling cuts made so far.

Link please, I cant believe that anyone sane would want a country from the poundzone to bailout the superprofligate in the Eurozone.

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You can call New Labour many things, but 'Socialist' is NOT one of them.

Generally, Socialists don't approve of deregulating financial services, selling off public assets, allowing tax loopholes for the rich, etc, etc..

As socialism is inherently an artificial construct doomed to corruption, hypocrisy, perversion of its alleged core themes and always fails, I would have thought New Liebour fitted the bill perfectly.

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BUY BUY BUY!

Pan Pylas, AP Business Writer, On Friday November 12, 2010, 6:39 am EST

LONDON (AP) -- Economic growth in the 16 countries that use the euro fell by more than half in the third quarter of the year, official figures showed Friday, as the pace of recovery in Germany, Europe's biggest economy, slowed and the Netherlands saw output unexpectedly drop.

:lol:

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