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Hang Seng just dropped 11%!!

Eldarchen
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27-Oct-2008 20:51

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Alert Admin Sadly with EU/Japan/HK dropping like that We could have a 8-12% drop in our market tommorrow, unless US can pull something out of its hat tonight. I was expecting US to drop lesser than expected last friday which would lead us into a rally but sadly even if they did drop lesser than expected, HK and Japan continued to tank due to corp warnings from HSBC and Cannon. I wonder if our market were to be open what would happen since we do not have any of such news. So maybe 6 % , which is 96 bringing us to 1500 So if US drop another 3 % tonight and Japan and HK (from 11 k to 9.8k) continue with their madness, we'll see maybe another 4% with margin calls maybe 6% , which is 1400. Hmm 200 points in 1 day, not bad, we can hit citigroup's target with a huge discount. Maybe they'll come out with 1,300 as the next level since 1800 broke and 1500 broke. It's pretty much a race to see who hits the bottom first.

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williamyeo
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27-Oct-2008 20:37

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27-Oct-08 HANG SENG -1,602.54 -12.70% 11,015.84

Date	Open	High	Low	Close	Up/Down
10/24/2008	13478.63	13478.63	12618.38	12618.38	-1142.11
10/23/2008	13596.31	14032.25	13403.35	13760.49	-506.11
10/22/2008	14878.21	15161.69	14038.41	14266.6	-774.57
10/21/2008	15616.96	15616.96	14884.07	15041.17	-281.84
10/20/2008	14691.9	15472.68	14691.79	15323.01	768.8
10/17/2008	15081.46	15300.07	14554.21	14554.21	-676.31
10/16/2008	14902.34	15230.52	14578.54	15230.52	-767.78
10/15/2008	16609.09	16609.09	15961.92	15998.3	-834.58
10/14/2008	17141.05	17141.05	16615.01	16832.88	520.72
10/13/2008	15156.16	16376.42	14754.64	16312.16	1515.29
10/10/2008	14717.52	14910.55	14398.54	14796.87	-1146.37
10/9/2008	15550.86	15990.2	15550.86	15943.24	511.51
10/8/2008	16107.98	16422.52	15431.73	15431.73	-1372.03
10/7/2008	16803.76	16803.76	16803.76	16803.76	0
10/6/2008	17156.21	17241.78	16790.86	16803.76	-878.64
10/3/2008	17788.99	17926.14	17682.4	17682.4	-528.71
10/2/2008	17870.43	18285.68	17631.7	18211.11	194.9

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elfinchilde
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27-Oct-2008 17:27

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tanglinboy, operative word being theory. Big Grin

korea cut interest rates, which is why the HSI went back up from its tantrum. lol.

all eyes on the ol' dow tonight now. Yes this will be crucial. exciting times to be a trader. Hyper

sti shd have rebound end this week-early next week; the only qn is what we fall to before the rebound.

tanglinboy ( Date: 27-Oct-2008 15:35) Posted:

What is happening to Asia??

What happened to the decoupling theory?

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freeme
Elite

27-Oct-2008 16:40

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Alert Admin Personally I think this is yet to bottom. Based on my view on HSI on chart. The bottom should be range at 9000-10000. Its near the bottom and its coming down really fast. Didnt expect them to fall so quickly.

STI bottom should be ard 1300-1400.

Prepare ammo and get ready to get into the market. Another indictor to see if the market has reverse is the US Property price. some lao jiao said that once the house price start to go up, its time that the bottom is reached.

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cyjjerry85
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27-Oct-2008 16:21

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could this be a sign of really really bottom? here's my personal view why on the charts:

Our STI closed 1600 previously and we are very much close to the bottom like what many forummers had debated with their analysis...so i shall not speak more of it (also just 100 points away from Citigroup target of 1500)

Then, for DOW we are close to the 8000 mark which is also the trendline support...and moreover close to the 7882 intra-day low created on 10Oct

Furthermore, HSI closed just above the trendline support 11,000 mark....and it did this in 10 minutes from an intra-day low of more than 15.3% down then shoot way up to close in minutes

this is just personal view only...any comments? i m sure we really wish to see the bottom this week...once and for all...

at least we do really have a HAPPY DEEPAVALI today....really glad..most of us...at least...for today .

Eldarchen ( Date: 27-Oct-2008 16:13) Posted:

yeah I was surprised at the 14-15% drop even when US is only down 3%, so far seems like 20% drop in 2-3 days.

I wish they could just finish dropping, drop 4k in 1 day to end the pain, no more day after day of downside .

But something interesting to note would be STI holding 1600 at closing and HSI holding 11000 at closing... hmmmm

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crimson
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27-Oct-2008 16:17

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Is 1600 & 11000 the respective support point for STI & HSI?

Looking at today's HSI drop... think tomorrow morning STI open will drop pass 1600... the scary thing is don't know wat cause HSI to drop so much today?!!!

My "guess" mayb because Sg & Malaysia holiday, so all the "foreign" firepower concentrated elsewhere... Smiley

Eldarchen ( Date: 27-Oct-2008 16:13) Posted:

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Eldarchen
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27-Oct-2008 16:13

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Alert Admin yeah I was surprised at the 14-15% drop even when US is only down 3%, so far seems like 20% drop in 2-3 days.

I wish they could just finish dropping, drop 4k in 1 day to end the pain, no more day after day of downside .

But something interesting to note would be STI holding 1600 at closing and HSI holding 11000 at closing... hmmmm

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cyjjerry85
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27-Oct-2008 16:07

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Alert Admin in just 10 minutes...HSI climbed to close above the 11,000 mark...is this coincidental or a mark of something positive?

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cyjjerry85
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27-Oct-2008 15:50

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Alert Admin now is 15%...

what is happening seriously...

even now the weather in Singapore is making the overall atmosphere gloomy...

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tanglinboy
Elite

27-Oct-2008 15:35

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Yells: "hello!"

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Alert Admin What is happening to Asia??

What happened to the decoupling theory?

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