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Bad Monday in Asia
Yahoo!Finance ^ | 03/17/08

Posted on 03/16/2008 7:34:49 PM PDT by TigerLikesRooster

Symbol Name Last Trade Change Related Info
^AORD All Ordinaries 5,131.80 10:33PM ET Down 156.70 (2.96%) Components, Chart, More
^SSEC Shanghai Composite 3,873.54 9:59PM ET Down 89.14 (2.25%) Chart, More
^HSI Hang Seng 21,109.58 10:18PM ET Down 1,127.53 (5.07%) Components, Chart, More
^BSESN BSE 30 15,760.52 Mar 14 0.00 (0.00%) Chart, More
^JKSE Jakarta Composite 2,263.51 10:32PM ET Down 119.91 (5.03%) Components, Chart, More
^KLSE KLSE Composite 1,194.84 Mar 14 Down 6.51 (0.54%) Components, Chart, More
^N225 Nikkei 225 11,726.99 10:00PM ET Down 514.61 (4.20%) Chart, More
^NZ50 NZSE 50 3,430.24 10:13PM ET Down 70.67 (2.02%) Components, Chart, More
^STI Straits Times 2,753.13 10:33PM ET Down 85.88 (3.03%) Components, Chart, More
^KS11 Seoul Composite 1,539.87 10:33PM ET Down 60.39 (3.77%) Components, Chart, More
^TWII Taiwan Weighted 7,907.93 10:33PM ET Down 253.46 (3.11%) Chart, More


TOPICS: Business/Economy; Japan; Your Opinion/Questions
KEYWORDS: asia; globaleconomy; imminentdestruction; ormaybenot; stpatricksmassacre; wereallgonnadie
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To: Cringing Negativism Network

I’m sure at higher headquarters it seemed like a good idea at the time.

The Chinese are in a pickle of their own making.


121 posted on 03/16/2008 9:10:08 PM PDT by Leisler
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To: what's up
But ... is this the last doom week?

While it is quite true, looking back, that you wanted to buy in the face of doom, and sell in the face of euphoria, you can't tell (unless you're a better forecaster than most of us) whether this is the week of doom in which to buy or not. I'll wager when the DJIA was down 20% in December of 1929, or whenever that happened then, that folks were gloomy. When was it that the DJIA finally bottomed - August 1932?

Don't try to catch falling Guillotines until after you hear the solid thunk of the blade hitting bottom.

122 posted on 03/16/2008 9:11:47 PM PDT by ThePythonicCow (By their false faith in Man as God, the left would destroy us. They call this faith change.)
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To: italianquaker

It is too early to be buying. The market has much further to drop yet.


123 posted on 03/16/2008 9:13:51 PM PDT by B4Ranch ("In politics, nothing happens by accident. If it happens, you can bet it was planned that way." FDR)
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To: Farmer Dean

Actually it’s sort of built in circuit breaker, every day. Probably is actually helpful on a day like today. Gets a circuit-breaker’s benefit, without a circuit-breaker’s chief downside which is signalling market panic.


124 posted on 03/16/2008 9:15:18 PM PDT by GovernmentShrinker
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To: SevenofNine
Floor 80 checks in.
125 posted on 03/16/2008 9:16:38 PM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: Farmer Dean; TigerLikesRooster
Did the Japanese markets suspend trading at 10?Just checked and no movement for 45 minutes.

Yes but they always have a mid-day break. Nothing unusual or new or panic-driven there.

126 posted on 03/16/2008 9:18:23 PM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: Leisler

“The Chinese are in a pickle of their own making.”

-

Seems to this poster, we’re sharing that pickle with the Chinese.

They’re eating one end. We’re eating the other. *chomp*. Factories head to China. *chomp* Walmart profits up. *chomp* China builds nuclear weapons and submarines with our trade dollars. *chomp* we both suddenly look:

It’s almost gone.
Now what?...


127 posted on 03/16/2008 9:19:25 PM PDT by Cringing Negativism Network
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To: RayChuang88

We won’t see DJII 8000 tomorrow, no way, not that much in one day. The PPT (which officially met today BTW) is there to make sure that people with foresight don’t get rich quick. We will see DJII 8000 before it’s all over, but not before late summer.


128 posted on 03/16/2008 9:21:18 PM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: LikeLight
"My thought as well. At some point I still see the EU unraveling at the seams - too much diversity amongst the membership - the uglier things get, the more the interests of the different EU members will be pitted against one another and I don't know that the union will hold. Europe has a long history of war."

I read something similar and that the unravelling will probably begin with Ireland.

129 posted on 03/16/2008 9:23:59 PM PDT by blam (Secure the border and enforce the law)
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To: stockstrader

This will throw the whole world into chaos. Propaganda won’t cut it this time. Holy week is going to be a real rough ride. Hold on.


130 posted on 03/16/2008 9:24:38 PM PDT by Shady (The Fairness Doctrine is ANYTHING but fair!!!!)
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To: HeartlandOfAmerica; BigBadVoodooDaddy

Today’s rate cut was the “discount rate” which is different than the “federal funds rate” on Tuesday.


131 posted on 03/16/2008 9:25:24 PM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: FFranco

The media will blame blame blame blame Bush, and they will be half right. Every “incumbant” will share the blame for the collapse of the economy.


132 posted on 03/16/2008 9:25:53 PM PDT by Shady (The Fairness Doctrine is ANYTHING but fair!!!!)
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To: Shady
Holy week is going to be a real rough ride

Maybe the Creator is trying to tell us something?
133 posted on 03/16/2008 9:28:12 PM PDT by hedgetrimmer (I'm a billionaire! Thanks WTO and the "free trade" system!--Hu Jintao top 10 worst dictators)
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To: jiggyboy
With the extensive system to slow down trading in case of a panic, if we see a panic drop it may never approach 25% in one session like what happened in 1987 and 1929. In fact, even a 1000-point drop of the DJIA in a week would bring out the bargain hunters en masse to pick up undervalued American stocks.

The fear right now is that if the American financial institutions start to fail, it will take Europe and eastern Asia with it because they too have a huge amount of money invested in the USA. The prospect of the world's currencies going back to a combined gold/silver standard won't be so far-fetched anymore.

134 posted on 03/16/2008 9:30:45 PM PDT by RayChuang88
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To: Proud_USA_Republican

Just one more big reason we should have kept the $ on a gold standard. Thanks you asshole politicians.


135 posted on 03/16/2008 9:31:26 PM PDT by pankot
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To: GregoryFul

Frankly the $2/share purchase price, and even then only with a guaranteed loan from the Fed, says to me that:

1) The real market price of Bear was $0 — nobody wanted it, period; and

2) The Fed put really, really heavy pressure on JPM to buy it. Not force, but really, really heavy pressure, while still letting JPM set the price. The only reason JPM didn’t do an ING-Barings style purchase — i.e. a token $1 paid for the whole company — was for just the reason you stated: it would have spooked the markets way too much and left JPM wishing it had paid $2/share. However, I suspect JPM thought this all through, and decided that paying $30+/share actually would not bring them out ahead.


136 posted on 03/16/2008 9:31:30 PM PDT by GovernmentShrinker
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To: MinorityRepublican
I'm going to listen to what the CEO's of Goldman, Lehman, and Morgan Stanley have to say (they are the companies reporting this week).

Merrill Lynch CEO said today or yesterday that he believes the worst of the credit crunch to be behind us. He said that troubles would most likely continue for 6-9 months, but that the worst is over.

Of course the three banks reporting this week will all report bad numbers, but I'm going to see what their bias is for the future.

I think it may be time to start nibbling at some of these companies. Wachovia, Bank of America are others which might be good buys for the long haul (Wachovia is paying over 9% dividend to boot).

Also, the internet is not going anywhere. If one is afraid of financials one might consider a stock like Cisco when the dust from this week settles. Most are saying tech will hold up well regardless and Cisco has indeed held up surprisingly well over the last few dismal weeks. Cisco is a great company and its CEO John Chambers is solid. All the best.

137 posted on 03/16/2008 9:40:36 PM PDT by what's up
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To: GovernmentShrinker
The real market price of Bear was $0 — nobody wanted it, period;

Just think, less than a year ago, BSC was $159/sh. Amazing.

138 posted on 03/16/2008 9:41:28 PM PDT by stockstrader (Voting for CHANGE by voting for Obama--is like trying to pick up a turd by the clean end.)
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To: jiggyboy
Today’s rate cut was the “discount rate” which is different than the “federal funds rate” on Tuesday.

True. Apologies.

But that's ALSO going up and probably not by a lousy 25 basis points.

I stand corrected

Godspeed

139 posted on 03/16/2008 9:53:14 PM PDT by HeartlandOfAmerica (Don't blame me - I voted for Fred and am STILL a FredHead!)
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To: what's up
Merrill Lynch CEO said today or yesterday that he believes the worst of the credit crunch to be behind us.

Consider the source... Merrill Lynch is on the "Watch List" (as was Bear Sterns)!

140 posted on 03/16/2008 9:58:19 PM PDT by ExSES (the "bottom-line")
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