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Bombay Stock Exchange halts trading after 9.7% drop
AFP via translation
| January 22, 2007
Posted on 01/21/2008 9:51:30 PM PST by HAL9000
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To: steve86
I think Sensex down -17% on cnbc India
61
posted on
01/21/2008 10:38:21 PM PST
by
steve86
(Acerbic by nature, not nurture™)
To: steve86
62
posted on
01/21/2008 10:38:48 PM PST
by
steve86
(Acerbic by nature, not nurture™)
To: janetjanet998
exactly! the damn thing is up 350% in 3.5 years, of course its crashing, what else should it do?
To: Professional
I wouldn’t short anything at this point. If the market makers get in and start infusing artificial support then you could get a short squeeze that would be very unpleasant, to put it mildly.
To: Greenpees
Join the club, we’re dumb asses across the board on so many issues these days, I’m just getting used to it.
What a revoltin’ predicament.
65
posted on
01/21/2008 10:39:45 PM PST
by
DoughtyOne
(< fence >< sound immigration policies >< /weasles >< /RINOs >< /Reagan wannabees that are liberal >)
To: janetjanet998
Good call Janet, had no idea how overbought it was. Short....India!
To: All
anyone know the rules for halting it again?
To: politicket
Look at #66. That is a crazy up move, that needs a serious correction. That short looks better than China.
To: Greenpees
I think that is true. I was ready to buy in Novemeber, but even with great credit and a good down payment BofA gave me a slightly higher rate than I expected. I demanded to know why, and they simply said it was the way things were headed. There's a big risk premium now that is preventing lower rates from getting to the consumer. The Fed should take that into account when it comes to lowering interest rates.
69
posted on
01/21/2008 10:43:56 PM PST
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: Professional
what’s interesting is that commodities are getting whacked as well. Speculators obviously active in those markets as well.
To: All
The real problem can be seen very easily. Usually you see a delicate balancing act between stock prices, the price of gold, and the price of crude oil. When all three go down sharply at the same time then it becomes "Houston, we have a problem."
It means that people are pulling cash out of ALL their investments and sitting on the sideline until this plays out. The people with retirement accounts that can't be removed from the game are the ones that will take it in the shorts. Especially those nearing retirement age.
To: steve86
I think Sensex down -17% on cnbc India That should have been -12%
Midcaps are currently down 16%
72
posted on
01/21/2008 10:44:44 PM PST
by
steve86
(Acerbic by nature, not nurture™)
To: Eyes Unclouded
My friend, Captain McQueeg is everywhere on FR.
73
posted on
01/21/2008 10:46:39 PM PST
by
khnyny
(Clinton and Co. are the carnies of American politics.)
To: babble-on
whats interesting is that commodities are getting whacked as well. Speculators obviously active in those markets as well. While commodities have done well..., if you have margin calls..., they will be sold down to cover!
That said..., at least such contracts represent tangible goods and not promises or balance sheets of dubious validity!
74
posted on
01/21/2008 10:47:31 PM PST
by
ExSES
(the "bottom-line")
To: Professional
I agree that a short play on the Sensex could make a pile of cash. But we have now entered a phase where the "big boys" are going to begin playing high-powered games with the markets. We may have tens of thousands to invest in a short play, but there are many investors with millions and some with billions. One day of a short play going in the wrong direction with gusto would put you in a very bad spot.
In other words, there's too much market volitility. Once things settle down to where the index is only losing 1-2% per session then it might be a great opportunity to go short.
To: steve86
Bit of a rally now, Sensex down a mere 11%.
Reliance Energy getting killed.
76
posted on
01/21/2008 10:50:57 PM PST
by
steve86
(Acerbic by nature, not nurture™)
To: steve86
This Nikkei rallied mid-session as well, and then closed almost at the very bottom of the day’s range. It will be interesting to see if this rally holds or fizzles.
To: babble-on
For people who have cash lying around, what would you recommend they do? And yes, I know I’m asking you, some random freeper. But I don’t suppose you’ll be much worse than my financial advisor who seems barely past puberty.
To: Professional
"Only half the stocks have bids. So, basically nobody is buying," So, if I tell my broker to unload 1000 shares of BRG at market, he might not even be able to sell it tomorrow, eh? It might take him a day or a week? Until it gets so low someone says OK?
yitbos
79
posted on
01/21/2008 10:54:00 PM PST
by
bruinbirdman
("Those who control language control minds. - Ayn Rand")
To: steve86
They’re still talking like this is a correction in the bull market and not a new bear market. Good luck with that. Finally mentioned a structural breakdown in the system.
80
posted on
01/21/2008 10:54:47 PM PST
by
steve86
(Acerbic by nature, not nurture™)
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