Realistbear Posted June 13, 2006 Share Posted June 13, 2006 Today's Market Last Change DJIA 10,706.14 - 86.44 NASDAQ 2,072.47 -18.85 S&P 500 1,223.69 -12.71 Russell 3000 710.02 -8.07 Data as of 6/13/2006 4:06pm Will the sell off continue Wednesday. IMO, it will as there does not appear to be any good news out there at the moment. Even Gordon is going bearish and repeating what his banker has said about rough times ahead. Gold is anyone's guess: http://personal.fidelity.com/research/stoc...ketsindex.shtml Gold drops 7% to tally a six-session loss of almost $82 3:23 p.m. 06/13/2006 By Myra P. Saefong SAN FRANCISCO (MarketWatch) -- Gold futures tumbled more than 7% Tuesday to tally a six-session loss of almost $83 an ounce as crude prices fell to a two-month low and the dollar continued to strengthen on expectations U.S. interest rates are headed higher -- sapping demand for the precious metal. "Gold now stands at a point where the $300 move it had achieved over the past year has been reversed by 50%, and questions are being raised about its ability to sustain much more damage before the bull cycle is declared as being on a permanent summer vacation," said Jon Nadler, an investment products analyst at bullion dealers Kitco.com. I sense that we could see Gold drop below 550 tomorrow with no sign of a rally in Asia following the NY close: www.kitco.com The World Spot Price - Asia/Europe/NY markets MARKET IS OPEN (Will close in 21 hrs. 19 mins.) Metals Date Time (EST) Bid Ask Change from NY Close GOLD 06/13/2006 16:10 562.70 563.40 0.00 0.00% Quote Link to comment Share on other sites More sharing options...
Randall Herbert Posted June 13, 2006 Share Posted June 13, 2006 Fantastic time to get a few more Krugs for the pile. Gold is where its at. The dollar is finished, the printing presses will not save it either. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 13, 2006 Author Share Posted June 13, 2006 Fantastic time to get a few more Krugs for the pile. Gold is where its at. The dollar is finished, the printing presses will not save it either. Haven't they been predicting the end of the dollar since 1930? Mark Twain comes to mind when he said that the rumours of his death had been greatly exaggerated. The world has been printing money and Asia more of it than most. If the US stops buying Europe stops selling. That is a recipe for a depression. Gold is a great investment like all commodities but timing is everything. Buy low and sell high and don't expect to get it right every time. Anyone who bought at $730 may be feeling a little edgy right now. Quote Link to comment Share on other sites More sharing options...
onionpie Posted June 13, 2006 Share Posted June 13, 2006 Gold is a great investment like all commodities but timing is everything. Buy low and sell high and don't expect to get it right every time. Anyone who bought at $730 may be feeling a little edgy right now. Wow - $560 - £305 - the lowest gold has been since January - in Sterling at least? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 14, 2006 Author Share Posted June 14, 2006 FTSE a little hesitant at the start: FTSE 100 (FSI:^FTSE) Index Value: 5,521.30 Trade Time: 8:27AM Change: 1.70 (0.03%) Prev Close: 5,519.60 Open: 5,519.60 Day's Range: 5,503.80 - 5,527.40 52wk Range: 5,013.40 - 6,137.10 INteresting article on who gains when the bounce finally comes: http://business.guardian.co.uk/story/0,,1797102,00.html Turmoil prompting flight to quality, says Merrill Lynch Angela Balakrishnan Wednesday June 14, 2006 The Guardian Turmoil in financial markets over the past few months has led to a shift in investors' expectations about which stocks will do well in the future, Merrill Lynch said yesterday. The investment bank said the UK and US were in a good position if markets bounced back, after emerging markets fared badly in the recent sell-off. Volatility in the markets had sparked a "textbook" rotation into defensive countries as investors shed riskier assets, the bank said. "Quality is starting to matter," said Mr Bowers, "I think we will see a change in leadership as people are beginning to rethink their views on the USA. There was a belief in the emerging market growth, people thought their stocks were robust and could withstand a US slowdown, but this hypothesis has been challenged. Investors won't go back there so readily." "The UK is also a winner in this environment," he said, "There is a significant degree of defensive stocks and defensive market mix here compared to emerging markets." We may see a stronger SM at the expense of other more IR sensitive assets. Quote Link to comment Share on other sites More sharing options...
non-FTBer Posted June 14, 2006 Share Posted June 14, 2006 FTSE up 0.24% now... will it hold? Gold at $568 / £308. Be an interesting day. I expect the FTSE to be fairly flat today, no significant fall or rise. I expect the FTSE to finish within 40 points up or down of where it started. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 14, 2006 Author Share Posted June 14, 2006 (edited) FTSE up 0.24% now... will it hold? Gold at $568 / £308. Be an interesting day. I expect the FTSE to be fairly flat today, no significant fall or rise. I expect the FTSE to finish within 40 points up or down of where it started. Seems like a no-confidence vote from Asia: http://www.finfacts.com/irelandbusinessnew..._10006210.shtml News : International Last Updated: Jun 14th, 2006 - 09:05:21 Dead-cat-bounce on Asian markets; China's industrial production surges By Finfacts Team Jun 14, 2006, 09:00 Asian stocks rebounded on Wednesday and the Morgan Stanley Capital International Asia Pacific Index, which tracks about 1,000 stocks in 14 markets, rose 0.6 percent after falling 3.9 percent yesterday, its biggest decline since May 2004. It has fallen 18 percent since closing at a record on May 8th. With demand bound to fall China's frenzied manufacturing based economy may lead the way further down. I like what Merril Lynch say in today's Observer--flight to safety ahead as money will eventually return to the US and UK stockmarkets. Emerging markets will be in poor shape for the medium to long term. The US/UK market may simply be following the traditional bearish May-October time to go away phase. I am a little more bearish and think we will go into recession later this year. Edited June 14, 2006 by Realistbear Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted June 14, 2006 Share Posted June 14, 2006 the FTSE is now UP for a bit. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 14, 2006 Author Share Posted June 14, 2006 (edited) FTSE 100 (FSI:^FTSE) Index Value: 5,509.50 Trade Time: 9:59AM Change: 10.10 (0.18%) Prev Close: 5,519.60 Open: 5,519.60 Day's Range: 5,503.80 - 5,543.00 52wk Range: 5,013.40 - 6,137.10 Down again, possibly on the weak employment numbers and Tesco's disappointing sales numbers. All points to recession rather than a no-hike policy? Yesterday was quite bad for the rest of the world: http://www.telegraph.co.uk/money/main.jhtm.../ixcitytop.html Yesterday, the FTSE collapsed 101.3 points to 5519.6, after the Nikkei registered its biggest points fall since 2001 and investors worried about flagging demand in the US. Indian shares fell briefly below 9000 yesterday, 28pc below last month's peak, as foreign and domestic investors cashed in profits. Trading in Russian shares was suspended after heavy falls. The Turkish government was forced to intervene to prop up the lira , while stocks dived. The Dow Jones in New York fell 86.50 to close at 10706.10 last night. London was also hit by a higher-than-expected rise in inflation in May to an annual rate of 2.2pc, the fastest rate of growth since October 2005. Gold crashed $42 to $562.1 an ounce, its worst fall in five years. In London Brent oil fell more than $2 to $66.92 yesterday but was up 1 cent to $66.93 in London this morning. IMO, Mervyn was right about rocky times ahead. We are just beginning to see such times. Edited June 14, 2006 by Realistbear Quote Link to comment Share on other sites More sharing options...
jp1 Posted June 14, 2006 Share Posted June 14, 2006 If it drops as far as $300 - it might be a good time for Gordon to sell of the rest of UKs gold reserves! As Gordon Broon knows - timing is everything Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted June 14, 2006 Share Posted June 14, 2006 FTSE has slipped below 5500. Is this regarded as a psychologically significant point? Big sell off to follow? Program trading kicking in? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 14, 2006 Author Share Posted June 14, 2006 FTSE just took a vertical dive a few minutes ago: FTSE 100 (FSI:^FTSE) Delayed quote data Index Value: 5,481.10 Trade Time: 8:34AM ET Change: 38.50 (0.70%) Prev Close: 5,519.60 Open: 5,519.60 Day's Range: 5,475.60 - 5,543.00 52wk Range: 5,013.40 - 6,137.10 Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted June 14, 2006 Share Posted June 14, 2006 FTSE just took a vertical dive a few minutes ago: FTSE 100 (FSI:^FTSE) Delayed quote data Index Value: 5,481.10 Trade Time: 8:34AM ET Change: 38.50 (0.70%) Prev Close: 5,519.60 Open: 5,519.60 Day's Range: 5,475.60 - 5,543.00 52wk Range: 5,013.40 - 6,137.10 Yep I noticed that. Had gained up 10 points, then all of a sudden down by 40. CPI figures for US not looking good - I guess the news had an effect. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 14, 2006 Author Share Posted June 14, 2006 Yep I noticed that. Had gained up 10 points, then all of a sudden down by 40. CPI figures for US not looking good - I guess the news had an effect. Looks like it. FTSE is in for a very dissappointing day it seems. AP Inflation Rises 0.4 Percent in May Wednesday June 14, 8:41 am ET By Martin Crutsinger, AP Economics Writer Inflation Rises 0.4 Percent in May As Gasoline Prices Soar WASHINGTON (AP) -- Consumer inflation registered another sizable increase in May , pushed higher by soaring gasoline prices. And most worrisome, there was further evidence that the jump in energy costs is beginning to cause more widespread inflation troubles. Quote Link to comment Share on other sites More sharing options...
erd Posted June 14, 2006 Share Posted June 14, 2006 FTSE just took a vertical dive a few minutes ago: FTSE 100 (FSI:^FTSE) Delayed quote data Index Value: 5,481.10 Trade Time: 8:34AM ET Change: 38.50 (0.70%) Prev Close: 5,519.60 Open: 5,519.60 Day's Range: 5,475.60 - 5,543.00 52wk Range: 5,013.40 - 6,137.10 FTSE 100 5,517.30 -2.30 (-0.04%) recovering? Quote Link to comment Share on other sites More sharing options...
Guest Alright Jack Posted June 14, 2006 Share Posted June 14, 2006 Looks like the bank of england are not going to allow the ftse100 to go below 5500. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 14, 2006 Author Share Posted June 14, 2006 Looks like the bank of england are not going to allow the ftse100 to go below 5500. Not so sure: FTSE 100 (FSI:^FTSE) Index Value: 5,514.70 Trade Time: 2:45PM Change: 4.90 (0.09%) Prev Close: 5,519.60 Open: 5,519.60 Day's Range: 5,475.60 - 5,543.00 52wk Range: 5,013.40 - 6,137.10 I wonder what is causing the mini rally? Confusion or the end to bargain hunting? If I was an stock investor at this time I would be going to cash not buying into the storm. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 14, 2006 Author Share Posted June 14, 2006 Looks like it was a mildy disappointing day on the FTSE with a close just above the support level of5500: FTSE 100 (FSI:^FTSE) Index Value: 5,506.80 Trade Time: 4:36PM Change: 12.80 (0.23%) Prev Close: 5,519.60 Open: 5,519.60 Day's Range: 5,475.60 - 5,544.40 52wk Range: 5,013.40 - 6,137.10 Thursday? Let's see if the DOW holds onto its big gains today. DJ INDUSTR AVERAGE (DJI:^DJI) Index Value: 10,774.19 Trade Time: 5:42PM Change: 68.05 (0.64%) Prev Close: 10,706.14 Open: 10,706.78 Day's Range: 10,698.85 - 10,796.18 52wk Range: 10,098.20 - 11,709.10 Volume: 185,649,616 Quote Link to comment Share on other sites More sharing options...
DonnieDarker Posted June 14, 2006 Share Posted June 14, 2006 I wasn't dissapointed! ABP take over imminent with speculation of a bidding war sending the share price up up and away. Hmmmm. That'll be 75% profit in less than a year. Yeah. Stocks really suck compared to housing! Quote Link to comment Share on other sites More sharing options...
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