Gel Posted May 22, 2006 Share Posted May 22, 2006 FTSE 100 -80 pts FTSE 250 -100 pts FTSE ALL - 37 pts Quote Link to comment Share on other sites More sharing options...
mbga9pgf Posted May 22, 2006 Share Posted May 22, 2006 BEAUUUUUUUUUUTIFULLLLLLLLLLLLLL!!!!!!! Quote Link to comment Share on other sites More sharing options...
karhu Posted May 22, 2006 Share Posted May 22, 2006 Nothing much going on. It's just commodities being hammered, but we knew a bubble had grown there. Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted May 22, 2006 Share Posted May 22, 2006 Gold has taken a pasting too. I also see Rightmove shares at their lowest ever! 340p Quote Link to comment Share on other sites More sharing options...
FreeFall Posted May 22, 2006 Share Posted May 22, 2006 FTSE 100 down 110 now...wish I'd bought a house - they're still going up apparently Quote Link to comment Share on other sites More sharing options...
teddyboy Posted May 22, 2006 Share Posted May 22, 2006 Indian SE stopped trading for an hour after 10% drop! Quote Link to comment Share on other sites More sharing options...
Guest The_Oldie Posted May 22, 2006 Share Posted May 22, 2006 Gold has taken a pasting too. I also see Rightmove shares at their lowest ever! 340p Builders have lost pretty much what they pulled back on friday. Quote Link to comment Share on other sites More sharing options...
Gel Posted May 22, 2006 Author Share Posted May 22, 2006 (edited) Take my thread subject with a pinch of salt but it's not looking good today is it.... Edited May 22, 2006 by Gel Quote Link to comment Share on other sites More sharing options...
Realistbear Posted May 22, 2006 Share Posted May 22, 2006 The credit powered bubble is unwinding. No wonder Warren Buffett got out of comoodities and real estate and into cash ready to buy at the bottom! The bear market for IR sensitive assetts begins. Confidence in borrowing huge sums of money to buy into the late stages of the property bubble will be plummeting very soon. I expect to see the US $ head back up somewhat as the Fed raise the rates and as the deficit reduces due to their HPI and MEW correction. When the market rumbles Gordon's "Miracle Economy" today's SM correction may seem mild in comparison. Quote Link to comment Share on other sites More sharing options...
MRMX9 Posted May 22, 2006 Share Posted May 22, 2006 Perhaps we all need to pile into mortgage sellers Alliance and Leicester and Bradford and Bingley shares - they're up 7% and 2% due to Credit Agricole bid speculation! Obviously some hope there for the future of the housing market? Quote Link to comment Share on other sites More sharing options...
zag2me Posted May 22, 2006 Share Posted May 22, 2006 Oh dear, here we go again Down 1.67% currently I keep on telling myself I invested for the "long term" but this is hurting. Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted May 22, 2006 Share Posted May 22, 2006 Builders have lost pretty much what they pulled back on friday. Yep I noticed Quote Link to comment Share on other sites More sharing options...
Gel Posted May 22, 2006 Author Share Posted May 22, 2006 (edited) Europe is wayyyy down too... roll on 2pm when the US opens up. FTSE 100 -110 pts FTSE 250 -190 pts FTSE ALL - 56 pts Edited May 22, 2006 by Gel Quote Link to comment Share on other sites More sharing options...
29929BlackTuesday Posted May 22, 2006 Share Posted May 22, 2006 Doesn't the stock market always drop wildly in the morning? Then pick back up in the afternoon? Quote Link to comment Share on other sites More sharing options...
DoubleBubbleTrouble Posted May 22, 2006 Share Posted May 22, 2006 Builders have lost pretty much what they pulled back on friday. They are still well off their top though... can't imagine what possessed people to buy back into them. Can only think it was private investors thinking "property" + "share" = "safe!". I keep on telling myself I invested for the "long term" but this is hurting. Only way to beat the city is to invest 10yr+, buy at the bottom and enjoy in 10 years time. Quote Link to comment Share on other sites More sharing options...
mbga9pgf Posted May 22, 2006 Share Posted May 22, 2006 Doesn't the stock market always drop wildly in the morning? Then pick back up in the afternoon? Not nearly 2% it dont. Thats a serious amount of cash wiped off the boards, and I am guessing the people who will have lost the most will be the ones who jumped on last. . . missed the boaters. Article over at FT up already. FT.com Quote Link to comment Share on other sites More sharing options...
DoubleBubbleTrouble Posted May 22, 2006 Share Posted May 22, 2006 Doesn't the stock market always drop wildly in the morning? Then pick back up in the afternoon? It doesn't normally drop wildly although it does have a tendency to rally after big drops if everyone isn't scared out of their wits... Quote Link to comment Share on other sites More sharing options...
Guest Guy_Montag Posted May 22, 2006 Share Posted May 22, 2006 It doesn't normally drop wildly although it does have a tendency to rally after big drops if everyone isn't scared out of their wits... 10% is a correction 20% is a crash apparently Quote Link to comment Share on other sites More sharing options...
Realistbear Posted May 22, 2006 Share Posted May 22, 2006 (edited) When Warren Buffett dumps commodoties and goes to cash it must have been for a reason! I went 85% cash and am thinking about dumping the other 15% when the US opens. Things could go 2002 again with an IR sensitive assett meltdown. House prices are already heading sharply south in the froth markets everywhere and itys hard to see how long Gordon and the VIs can keep the pretense going here. Speaking of house market related IR sensitive assetts, some really bad news this morning (good news for HPCers though ): http://www.kamcity.com/namnews/asp/newsart...sp?newsid=27313 UK: B&Q To Reveal Major Fall In Profits The Sunday Telegraph reports that Kingfisher will this week reveal that operating profits at its B&Q chain fell by more than 70% in the first quarter, due to severe price cutting in the face of depressed consumer spending. For the three months to the end of April, profits at B&Q are expected to be just £17m, down from £71m last year, according to the company's house broker, Credit Suisse. Gold meltdown: GOLD AUG 06 (NYM:GC6Q.N) Last Trade: 649.00 $ Trade Time: 9:34AM Change: 36.00 (5.26%) Prev Close: 685.00 Edited May 22, 2006 by Realistbear Quote Link to comment Share on other sites More sharing options...
SHERWICK Posted May 22, 2006 Share Posted May 22, 2006 UK: B&Q To Reveal Major Fall In Profits The Sunday Telegraph reports that Kingfisher will this week reveal that operating profits at its B&Q chain fell by more than 70% in the first quarter, due to severe price cutting in the face of depressed consumer spending. For the three months to the end of April, profits at B&Q are expected to be just £17m, down from £71m last year, according to the company's house broker, Credit Suisse. Hmmm I wonder why that could be? Could it be because all the people that have bought houses in the past few years are now spending a huge %age of their disposable income on simply paying their huge mortgage payments, and don't have money for anything else (other than rising bills and essentials like food/petrol)? So rising House Prices have crowded out spending on anything else maybe? No, of course not. Silly me. I forgot, everyone in the UK is rich in our 'miracle economy'. Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted May 22, 2006 Share Posted May 22, 2006 (edited) perhaps it wasn't so unexpected as everyone thought - an ex-trader friend of mine has been kind enough to share his little charts with me - he uses a variation on some nomura inhouse system he 'borrowed' before he left, and it's been fascinating watching this chart develop. All the red line were in place WEEKS before the turns. Shame I don't actively trade anymore! edit: its the S&P, of course. Edited May 22, 2006 by CrashIsUnderWay Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 22, 2006 Share Posted May 22, 2006 This will be a repeat of the 1929 crash... The market will fall now in the next few weeks then, once the World Cup and weeks of sunshine come, the market will bounce to new, greater heights. The financial press will convince themselves that previous falls were just a blip and forecast a bull market that will run for years... at which point sometime around Oct/Nov the market will crash BIG time. This is TMT's crystal ball of the future and investors are reminded that shares can go up and down. Forecasts of the future are no indicator of future events. 15% commission will be charged on all investors who follow this lunatic advice. Quote Link to comment Share on other sites More sharing options...
jp1 Posted May 22, 2006 Share Posted May 22, 2006 Hmmm I wonder why that could be? Could it be because all the people that have bought houses in the past few years are now spending a huge %age of their disposable income on simply paying their huge mortgage payments, and don't have money for anything else (other than rising bills and essentials like food/petrol)? So rising House Prices have crowded out spending on anything else maybe? No, of course not. Silly me. I forgot, everyone in the UK is rich in our 'miracle economy'. Dont be stupid. People dont go to B&Q anymore because, thanks to the Miracle Economy, they are now professionals and get a 'man in' to do the DIY for them - Well thats the lame explanation that Rosie Millard and her BTL media-mates are spinning Quote Link to comment Share on other sites More sharing options...
Gel Posted May 22, 2006 Author Share Posted May 22, 2006 Dont be stupid. People dont go to B&Q anymore because, thanks to the Miracle Economy, they are now professionals and get a 'man in' to do the DIY for them - Well thats the lame explanation that Rosie Millard and her BTL media-mates are spinning Or they have already done up their houses ... I can't see people redecorating once a year. For example..for the last 3 years I've been trapsing back and forth to B + Q to buy what Travis Perkins doesn't sell...yet now my house is done up I have absolutely no use for them whatsoever....I would say their profits are falling in to a more realistic line. Quote Link to comment Share on other sites More sharing options...
MRMX9 Posted May 22, 2006 Share Posted May 22, 2006 Market picking up now - only down 36 points (0.6%). Maybe not Black Monday after all! Quote Link to comment Share on other sites More sharing options...
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