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The Dow could be down because of Osama Bin laden's tape.

9/11 was an attack on the US economy.

Was that where he was threatening more terrorist acts on American soil? Soon.

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Oil is up to it's highest level since Hurricane Katrina. Light sweet went as high as $69.20 today before easing (I was watching live prices on IG Index all through yesterday and today and it was scary). Nonetheless, it's just worry.. and unless something *significant* happens to vindicate that worry, the price will ease back. Technicals are at at nosebleed levels.

Edited by Van

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9/11 was an attack on the US economy.

Indeed. But the attack was led by George Bush, not bin Laden: if they'd just swept up in New York and shrugged, that would have saved a few trillion dollars for the US economy.

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Oil is up to it's highest level since Hurricane Katrina. Light sweet went as high as $69.20 ...Technicals are at at nosebleed levels.

Any idea why it's called sweet? I bet a mouthfull of it wouldn't be all that sweet... I'm only being slightly silly as I would be interested in any oilbug's explanation :)

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The DOW started crashing months ago and the fall is now accelerating. But the masses have not realised yet, because they look at it in terms of paper money.

Look how different the picture looks in terms of real money. And the same applies to many other assets, including housing.

http://stockcharts.com/def/servlet/SC.web?...U:$GOLD,uu[w,a]daclyyay[df][pb50!b200][vc60][iUb14!La12,26,9]&pref=G

Protect yourselves (but try to buy gold on pullbacks, as it looks rather overbought now)

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What % will they let it drop before suspending it as in Japan?

OMG, is anyone else watching the DOW ticker? They're getting hammered big time. Are we looking at a repeat of October '87 crash? If memory serves, the DOW took a big knock Friday and we threw in the towel. Monday's sure going to be interesting................

Whether by foresight or fortune I liquidated 90% of my portfolio this week. Only holding one share, Centrica.

FTSE was looking more overbought than the DOW.

Guess it's going to be brown trouser weekend for those who've remained fully invested.

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Indeed. But the attack was led by George Bush, not bin Laden: if they'd just swept up in New York and shrugged, that would have saved a few trillion dollars for the US economy.

You'll get no arguments from me on that.

OMG, is anyone else watching the DOW ticker? They're getting hammered big time. Are we looking at a repeat of October '87 crash?

If I remember right there is some safeguard and trading stops if it falls too far too fast.

Edited by Karen

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Dow has dropped 170 and it seems the Fed has started an assult on Bloomberg

U.S. Commerce Sec. Gutierrez: U.S. Economy, Budget Deficit

Jan. 20 (Bloomberg) -- U.S. Commerce Secretary Carlos Gutierrez (left) talks with Bloomberg's Tom Keene in Washington about the outlook for the U.S. economy, the budget deficit and tax cuts. They speak at the U.S. Treasury.

U.S. Treasury's Snow: Economy, Health Care, China Currency

Jan. 20 (Bloomberg) -- U.S. Treasury Secretary John Snow (right) talks with Bloomberg's Tom Keene about the performance of the U.S. economy, the outlook for wage and job growth in 2006, government efforts to help control health-care costs and China's yuan policy. They speak at the U.S. Treasury in Washington.

U.S. Treasurer Cabral: New $10 Bill and Immigration Policy

Jan. 20 (Bloomberg) -- U.S. Treasurer Anna Escobedo Cabral talks with Bloomberg's Tom Keene about her responsibilities, security measures to stop counterfeiters, the redesigned $10 bill and issues surrounding current U.S. immigration policy. They speak at the U.S. Treasury Department in Washington.

White House Adviser Hubbard: U.S. Economy and Indiana

Jan. 20 (Bloomberg) -- Al Hubbard (right), director of U.S. President George W. Bush's National Economic Council, talks with Bloomberg's Tom Keene in Washington about the U.S. economy, productivity growth and economic conditions in Indiana.

White House Adviser Rove: U.S. Economy, Health Care, Taxes

Jan. 20 (Bloomberg) -- White House Deputy Chief of Staff Karl Rove (right), talks with Bloomberg's Tom Keene from Washington about the economic issues President George W. Bush will focus on in his State of the Union address and the outlook for the Alternative Minimum Tax (AMT) and health-care legislation. Bush addresses Congress on Jan. 31.

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[whistling noise]phewww[/whistling noise].

I hear Ford is cutting 25,000 jobs announced on Bloomberg. Is that one of the reasons?

Yeah, and Iran, but I think we can pin that one on CNNfn rather than Bloomberg :)

Ohh... and North Korea, who's gonna be in for that, BBC v. NBC, I'm undecided.

Edited by BuyingBear

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Any idea why it's called sweet? I bet a mouthfull of it wouldn't be all that sweet... I'm only being slightly silly as I would be interested in any oilbug's explanation :)

Heh! Apparently it's lighter (in density.. physics 'n all that stuff) than the heavier crude oil that we drill in the north sea and better suited to, er, things (although technically both are "crude".. go figure). As far as I'm concerned, oil is oil.. :P

You can sometimes do good arbitrage trades with the forward gap - the difference between light and crude fluctuates - sometimes as high as 350pts, sometimes as low as 20pts. Usually if you go short brent/long crude when the gap is 100pts or less you can skim off a few buck, or long brent/short crude if the gap goes over 300pts. You'll probably lose 20pts on the spread, but it's a low risk way of making a few bucks.

Edited by Van

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Guest Charlie The Tramp

OMG, is anyone else watching the DOW ticker? They're getting hammered big time. Are we looking at a repeat of October '87 crash? If memory serves, the DOW took a big knock Friday and we threw in the towel. Monday's sure going to be interesting................

Whether by foresight or fortune I liquidated 90% of my portfolio this week. Only holding one share, Centrica.

FTSE was looking more overbought than the DOW.

Guess it's going to be brown trouser weekend for those who've remained fully invested.

Watch the Asian Markets Monday and follow the markets westwards as we reach the London market.

Still a bit dubious of a total crash, a little early yet IMHO but it depends whether there will be total panic.

Just think of those who have MEWed hoping to get a quick buck on the back of the rising market in 2005.

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Heh! Apparently it's lighter (in density.. physics 'n all that stuff) than the heavier crude oil that we drill in the north sea and better suited to, er, things (although technically both are "crude".. go figure). As far as I'm concerned, oil is oil.. :P

The benchmark Brent is a measure of a light sweet crude, it's generally not a measure of heavy sour grades, which have an undeserving premium at the moment, the sulphur tends to eat refineries :-

20050324_refineryfire.jpg

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Any idea why it's called sweet? I bet a mouthfull of it wouldn't be all that sweet... I'm only being slightly silly as I would be interested in any oilbug's explanation :)

If I remember correctly from university days, the sweeter the oil, the less impurities (such as hydrogen sulphide) they contain. The impurities require processing to remove them to acceptable levels, and that incurs costs.

I'm prepared to be corrected by my more knowledgable forum colleagues though..............

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Down 170pts.. it's hardly a meltdown. Everyone seems to forget that we were as low as 10,200 back in October and some blow-off was inevitable. It's oil-price worry more than anything, IMHO.

Nonetheless, anyone who holds shares knows that you get days like these - think of it as "no pain, no gain" :) I remember one particularly bad session last year when the Dow lost 200pts.. the intraday was a very similar plummet like what happened today. Everyone waited for the bounce that just didn't materialise. But you know what? These sessions are not just required, they are actually GOOD because the purge the weak holders out and bring the buyers back in ready for the next move up. When gold lost 3% in one session earlier in the week, no-one was screaming "meltdown"..

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If I remember correctly from university days, the sweeter the oil, the less impurities (such as hydrogen sulphide) they contain. The impurities require processing to remove them to acceptable levels, and that incurs costs.

I'm prepared to be corrected by my more knowledgable forum colleagues though..............

So light means lighter in density (ie more combustable) and sweet means it contains less impurities.

Ta muchly :)

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Will members of the audience please refrain from shouting when the Dow is falling :rolleyes:

Hrm, GOOG is a real scream, 8% down following the same yesterday, it's about to break 400, if they cannot find support at that level then it's going to 380 level.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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