Another hammering again today.superfrank wrote:Stock markets getting hammered this afternoon
http://www.igindex.co.uk
DAX down over 3%.
Markets post debt ceiling agreement
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andyfuller
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The FTSE and the S&P 500 are both at their lowest levels this year...
On a more positive note, though, oil is steaming (although I'm not holding my breath for cheaper prices at the pump!).
Jeff
On a more positive note, though, oil is steaming (although I'm not holding my breath for cheaper prices at the pump!).
Jeff
andyfuller wrote: Another hammering again today.
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superfrank
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FTSE and DAX down 4.5% in after hours trading tonight.
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mulberryhawk
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Asian markets not looking too healthy before the open either, anyone fancy picking a bottom?
It's hard to see what can be done, either...
The US is out of ammo, having printed loads of money and gone on the mother of all spending sprees.
The ECB can help to a point, but I think Italy and Spain are just too big for anyone to bail out.
Maybe this will prove to be a storm in a teacup, but things don't look good...
Jeff
The US is out of ammo, having printed loads of money and gone on the mother of all spending sprees.
The ECB can help to a point, but I think Italy and Spain are just too big for anyone to bail out.
Maybe this will prove to be a storm in a teacup, but things don't look good...
Jeff
superfrank wrote:FTSE and DAX down 4.5% in after hours trading tonight.
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superfrank
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If I was tempted into a long-term bet I'd buy the DAX that contains solid large industrials - not banks, retail and foreign mining companies like the FTSE.
It worries me that the German's have in effect decided to underwrite the debts of the Eurozone, but this will not necessarily hurt German companies' profitability - the Euro is likely to weaken long-term with this approach, and raw materials look like getting significantly cheaper in the short-term.
Buying the DAX and selling the FTSE might be a good hedge? The problem is that QE3 may result in another commodities boom and free money for banks which could doom that trade.
The other thing I'd have my eye on is crude. It's measured in increasingly worthless dollars and can't be manipulated downwards easily. I last bought (US Light) crude at $72 - I'd be very interested if it got anywhere near there again. 'just checked and it's sub-$78, not far to go!
It worries me that the German's have in effect decided to underwrite the debts of the Eurozone, but this will not necessarily hurt German companies' profitability - the Euro is likely to weaken long-term with this approach, and raw materials look like getting significantly cheaper in the short-term.
Buying the DAX and selling the FTSE might be a good hedge? The problem is that QE3 may result in another commodities boom and free money for banks which could doom that trade.
The other thing I'd have my eye on is crude. It's measured in increasingly worthless dollars and can't be manipulated downwards easily. I last bought (US Light) crude at $72 - I'd be very interested if it got anywhere near there again. 'just checked and it's sub-$78, not far to go!
Last edited by superfrank on Tue Aug 09, 2011 1:42 am, edited 1 time in total.
It won't necessarily hurt it. But if Germany ends up landed with a load of sovereign debt because of the bailouts, that could hurt German firms, as if German taxes rise, then the cost of having a business based in Germany will probably also rise...
Jeff
Jeff
superfrank wrote: It worries me that the German's have in effect decided to underwrite the debts of the Eurozone, but this will not necessarily hurt German companies' profitability -
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superfrank
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Not many better places to do business than Germany - most of the rest of Europe is irretrievably bust and the UK is on fire.
We really have had a stock market crash - just in fairly slow motion over the last few weeks.
We really have had a stock market crash - just in fairly slow motion over the last few weeks.
The Germans have a great work ethic, and they are a very well educated people. But there are places in the world with loads of graduates and where labour is far cheaper...superfrank wrote:Not many better places to do business than Germany - most of the rest of Europe is irretrievably bust and the UK is on fire.
As for Britain, if I wanted to open a factory somewhere, the rioting traitors would make me think twice about locating here. IMHO, one of the reasons why Britain has been as successful as it has been is because firms knew that this island was a peaceful and stable place...
Jeff
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superfrank
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The other great bet is selling US bonds - at all time highs despite the downgrade - a great hedge against QE3 and a pretty low risk trade (I think - 'never sure how bond pricing works).
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andyfuller
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Looking even worse now at 3am:superfrank wrote:FTSE and DAX down 4.5% in after hours trading tonight.
Nikkei -4.57%
S&P Fut -2.10%
DOW Fut -2.02%
NAS Fut -2.31%
CAC Fut -4.69%
DAX Fut -4.71%
And
FTSE Fut -6.21%
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andyfuller
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$76.900 now and Brent Crude Fut 99.990superfrank wrote:I last bought (US Light) crude at $72 - I'd be very interested if it got anywhere near there again. 'just checked and it's sub-$78, not far to go!
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superfrank
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It looks like the pros called the bottom overnight.
They probably got the nod from the FED to start buying.
They probably got the nod from the FED to start buying.
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mulberryhawk
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superfrank
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Markets falling hard again.
DAX near its Tuesday early hours lows.
Does anyone know how to get live prices (stock market indices, major currency pairs) into Excel?
DAX near its Tuesday early hours lows.
Does anyone know how to get live prices (stock market indices, major currency pairs) into Excel?
Last edited by superfrank on Wed Aug 10, 2011 4:15 pm, edited 1 time in total.