Panic Day.....

Discussion in 'Wall St. News' started by ASusilovic, Aug 16, 2007.

  1. Australia's S&P/ASX 200 index tumbles 5.2% to 5,484.80...
    South Korea's Kospi skidded 6.2% to 1,704.64
    he Nikkei 225 index fell 3.2% to 15,953.58, on top of Wednesday's 2.2% drop
    Hong Kong's Hang Seng Index dropped 3.2% to 20,684.71
    Taiwan's Weighted index ank 3.5% to 8,293.13
    Singapore's Straits Times Index slumped 3.6% to 3,155.06
    New Zealand's NZX 50 index declined 1.4% to 3,947.84.

    I love PANIC days !!!

    :D :D :D
     
  2. dont

    dont

    Volare Volare

    Classic stuff really when it goes up 5% in one day gee its a good thing.

    When it goes down 6% we suspend trading etc etc.
     
  3. Yes, stupid bullish crowd.





     
  4. The last few weeks have been great for quote watchers like me, here are a few:

    ``Blood is hitting the streets, everyone seems to be panicking, and there's reason to panic,'' said Patrick Chang, who helps manage $4.5 billion at CIMB-Principal Asset Management Bhd. in Kuala Lumpur. ``There's been so much blow-up, we don't know when it's going to end. Liquidity is drying up.''

    ``We're biting our nails here,'' said Tobias Davis, senior currency dealer at Custom House Global Foreign Exchange in Sydney. ``There's a massive unwinding of carry trades. Foreign-exchange and stock markets are being driven by fear. Everyone was prepared for a correction, but not to this extent.''

    ``Money managers are being pressured to sell and they're going into cash and U.S. Treasuries,'' said Mark Mobius, who oversees $30 billion at Templeton Asset Management Ltd. in Singapore. ``It's a selling panic.''

    ``This is where people take refuge,'' said Komal Sri-Kumar, who oversees $145 billion as chief global strategist at TCW Asset Management Co. in Los Angeles. ``The dollar is still a safe-haven currency.''

    ``no one has called up and said the sky is falling.''
    William Poole, president of the St. Louis Federal Reserve Bank,
     
  5. dont

    dont

    And of course it will rally 4% just to show them whose the boss!
     
  6. Dow down 200 today. Its science.
     
  7. MattF

    MattF

    It's history in the making...enjoy the ride.
     
  8. lassic

    lassic

    [​IMG]
     
  9. "This market is going down like free beer." Art Hogan