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the Fed meeting next wk is still what many ppl are eyeing on...this morning spur of counters going up is definitely due to sentiments and i can imagine many frantically clicking to buy at the opening price...only to see it drop a few mins later to below their opening price...
ET8888..agree with you. However, Asian stocks don't seem to be able to disconnect from DOW.......somehow, the world is connected
7th consecutive day of intra-flunctuation of 50-100 points since 14th Jan. for the uncertainty period we called....we have been proven right again and again (please refer to the last few calls in October and August also)...in the last one we called, there are at least 8-15th consecutive day of intra-flunctuation of 50-100 points...and MARKET is always RIGHT....and we will always let the MARKET prove whether we are right for any call (since 2007 when we start to post comment on this website)....good luck :)
It is all American propaganda. When rate cut is 25 basis point, they say too low no impact. Now it is 75 basis point cut, they say this signifies underlying bigger problems to come. The most important thing for Asian countries is to maintain calm and support your markets. Maintain high so that the US funds are not able to interfere and manipulate with our markets. This is the only way to decouple from the US and continue on booming Asia. Must applaud the Indian and China authorities (now I am quite positive that they are the US targets) for their actions to stop the plunge yesterday.
Hands are itche, but the wounds still pain, though tried to catch SingTel at 0855 but others cheong faster than me, suah leow. See only lah!!!
wah... sti open abv 100 man.. cool..
u confirm?
many will sell into strength tomorrow
IMO, this is just a dead cat bounce => fed is trapped
yes we are seeing the Aug scenario again where there is massive buyup from deep selling. hope it can last till the end so we can see a recovery tomolo on sti..
I agree it's better to short is safer now. Can sombody share which co. has the most reliable CFD?
the rebound from the STI is probably just a technical rebound as we hit the 2750 support...remember just last wk when we hit the 3000 twice? it rebounded back up because the support was there....now this has also happened today....u may wish to look at today's intra-day chart at www.investasiaonline.com to see that twice when it neared 2750 it just rebounded back up...so is it an indication of positive sentiment back in town? nope....it's purely technical
I would see closely too what is going to happen in our market.
Would there be a long term effect or similar to last one?
Or would it make it even worse?
Let's look at the bright side of the Fed action....at least it offer a temporary relieve to the market and slow down the present sharp free fall.
Rate cut to 0.75 to 3.5%
Cut or no cut.... DOW wanna flash RED RED like ANG POW ... till CNY...
CNN confirmed Fed slashes rates by .75 basis points
Ignore analyst opinions, opinions don't really dictate how markets move. Follow the blue chips tomorrow. Where they go will pretty much determine what happens to the indices and market sentiment. The market is always right.
From CNBC - now the analysts are saying that 75 basis points is too little, too late.... let's see what happens when the Dow opens later...
that's good! no wonder the 100 pt recovery by the sti in the last half hr...had heard rumors earlier in afternoon from internal talk that there may be a surprise cut.
note dow futures still down 376 pts tho. but at least that's an improvement from -560 pts.
The Federal Open Market Committee released the following statement Tuesday:
The Federal Open Market Committee has decided to lower its target for the federal funds rate 75 basis points to 3-1/2 percent.
The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth. While strains in short-term funding markets have eased somewhat, broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.
The Committee expects inflation to moderate in coming quarters, but it will be necessary to continue to monitor inflation developments carefully.
Appreciable downside risks to growth remain. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risks.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Eric S. Rosengren; and Kevin M. Warsh. Voting against was William Poole, who did not believe that current conditions justified policy action before the regularly scheduled meeting next week. Absent and not voting was Frederic S. Mishkin.
In a related action, the Board of Governors approved a 75-basis-point decrease in the discount rate to 4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Chicago and Minneapolis.
