Shanghai stock market CRASH

[laurentius]

Personally I believe the Shanghai anxiety is linked to this news.

http://news.bbc.co.uk/2/hi/asia-pacific/6399627.stm

and whether the CCP will renounce the old "others get rich first"-political mindset. The structural inequality is becoming a strain on the Chinese society not a benefit as Mao intended. There might be a bigger political shift coming. That might be bad for Chinese corrupt capitalism.

[Pekka]

I might have heard or understood it wrong, but there was some talk about the Dow and that there was some kind of a computer glitch, with such high volume of all kinds of actions, that it sunk like a stone for a while just because of that. Don't know if that's possible, it was on msnbc like an hour ago, and I might have just heard it wrong.

[Zkribbler]

Although the following is due to fortuitousness rather than foresight, but last week, I moved BIG BUCKS into a CD.

[Whoha]

This may just be the thing we've been waiting for to knock Anna Nicole Smith off of TV.

[DanS]

Originally posted by Pekka
I might have heard or understood it wrong, but there was some talk about the Dow and that there was some kind of a computer glitch, with such high volume of all kinds of actions, that it sunk like a stone for a while just because of that. Don't know if that's possible, it was on msnbc like an hour ago, and I might have just heard it wrong.

Uhhh... Did you read the WSJ article that I posted above?

[The Mad Monk]

Is this a good time to buy, or would you expect further tumbles?

[Pekka]

DanS, no.

[MRT144]

Originally posted by The Mad Monk
Is this a good time to buy, or would you expect further tumbles?

depends. For some stocks that are falling despite being strong companies with good fundamentals and a history of profits, it might be a good time to buy. for others it might make you reconsider why they were valued so high to begin with.

for the most part this looks to be an across the board correction with all sectors being impacted.

[Tingkai]

Mainland China stocks climb

The Shanghai and Shenzhen 300 Index, which tracks yuan- denominated A shares listed on China’s two exchanges, advanced 3.5 percent to 2544.57. The Shanghai Composite Index rose 3.9 percent to 2881.07, while the Shenzhen Composite Index gained 3.8 percent to 736.81.

This is the really big news: Early Tuesday, the Commerce Department said January durable-goods orders fell 7.8% to a seasonally adjusted $203.90 billion. The decline in orders surprised economists, who expected a 3.2% drop.

That's the main factor behind the U.S. markets falling.

[Bkeela]

Sell you fools, sell. I will be waiting to profit from your foolishness.

It is times like this that seperate speculating scum from investors.

[Flubber]

Originally posted by Bkeela
Sell you fools, sell. I will be waiting to profit from your foolishness.

It is times like this that seperate speculating scum from investors.

I'm a "buy and hold" guy . THis news caused me to glance over my holdings but I don't see anything that I want to sell at this time

[Colonâ„¢]

*ouch* @ new home sales report.

[Kidlicious]

Originally posted by Tingkai
Mainland China stocks climb

The Shanghai and Shenzhen 300 Index, which tracks yuan- denominated A shares listed on China’s two exchanges, advanced 3.5 percent to 2544.57. The Shanghai Composite Index rose 3.9 percent to 2881.07, while the Shenzhen Composite Index gained 3.8 percent to 736.81.

This is the really big news: Early Tuesday, the Commerce Department said January durable-goods orders fell 7.8% to a seasonally adjusted $203.90 billion. The decline in orders surprised economists, who expected a 3.2% drop.

That's the main factor behind the U.S. markets falling.

These things have more to do with each other than that. There's a lot of hot money in China and if the US goes into a recession it's going to put a lot of pressure on the market there and the govt to do something that the market won't like.

[DanS]

And 4Q GDP growth was revised down sharply.

Mostly, I think Shanghai was a convenient trigger for New York to sell off. The valuations in the US are rich.

The U.S. economy is doing so-so. Some signs of weakness. Manufacturing is already shedding jobs, if not technically in recession.

[MRT144]

damnit DanS you cant stop cheerleading now!