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


    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


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


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


  9. "This market is going down like free beer." Art Hogan