Another Big RED day.


Dow 7,552.29 -444.99 -5.28%
Nasdaq 1,316.12 -70.30 -5.07%
S&P 500 752.44 -54.14 -6.71%


Can we go lower?? How much more blood on streets??

This post has been edited by danmooncake: Nov 21 2008, 05:37 AM

If it keeps going lower.. it might be cost more the produce a barrel of oil than to sell the oil in the market.
Something really bad will happen.

Goodness.. celebrating already?

Yeah.. Obama chosen new Treasury guy.. good news on that part.

But.. watch out next week. fundalmentals and confidence are still weak.
Could be going for another dip.. this time.. maybe reaching below 7000.

Got a question to ask the Forex players here.

What do you think of Australia currency now.. further downside or
upside against US dollars in the next 6-12 months.. say if global economy still weak & hasn't recover.

Currently, Australia interest rate is still high compared to US and Japan who have slashed theirs like crazy.

This post has been edited by danmooncake: Nov 22 2008, 09:48 AM

RBA scheduled another rate cut? That's means Aussie dollars have further downside.

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Added on November 22, 2008, 11:36 amI'm sure I understand the correlation there.

You're not buying the HSBC in UK pounds right?


This post has been edited by danmooncake: Nov 22 2008, 11:36 AM

KLSE get a bit of dip but not much because all the big boys are left to play alone.

If Obama's plan hit the streets on Monday, I think DJ may rise due to confidence but it all also depends on CitiGroup, which is running out of cash.

On one of Obama's plan - the alternative energy . if this do gets thru, this may cause less
oil consumption from US. In future, Malaysia and other OPEC nations could suffer in the long run because Malaysia revenue now is very dependent on oil and we have zero alternative energy plan.

Now, I guess that's one of the key reason why Malaysia govt refuses to lower price of petrol to match global oil prices that has gone down is because govt don't have money and we tax payers now have to reverse subsidy the govt for their massive expenditure.This is very bad.

This post has been edited by danmooncake: Nov 23 2008, 12:38 AM

Citibank group was the largest Bank in US back in May 2008, with
market cap of 2 trillion dollars. As of Friday, its share price closed 3.87.
It market cap now worth only 34billion. One can see how dreadful those toxic debts... it wiped out over 95% of company net worth.

The largest bank now goes to Wells Fargo now, with market cap of 75 billions. Citi is extremely mad at Wells Fargo for stealing away Wachovia, now that its shares have tank so much.. it is very much in trouble and most likely a candidate for hostile take over.

It is EAT or BE EATEN situation now.

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Added on November 23, 2008, 3:02 amHow come everybody still talk'n about Zelan... man since it is so damn apparent that it is big time
insider selling.. better get the hell out now.

This post has been edited by danmooncake: Nov 23 2008, 03:03 AM

DOW will pop open 100+ today. Both C (CIT) and CIT (CitiGroup) will rally today.. those who got it at closing $1.83 and $3.77 will gain to profit today.

Tonight, trading will be light because in observation of US ThanksGiving Day on the following day - Thursday Nov 27, most traders will go home early for the holiday.

On Friday evening, there will just be half day trading - NYSE will close around noon time (Msia time: 1:00am Saturday).

You'll see traders return enmasse next Monday.

DJIA opens down.. - 200+ points

Nah..Opec too smart for that. They won't allow that to happen. They will continue to cut production until Oil goes back to $60~$70. It will happen soon.