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Ouch!
Old 08-17-2007, 01:19 AM   #1
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Ouch!

NIKKEI down 854 points (5.29%). Should be an interesting market tomorrow....
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Old 08-17-2007, 04:29 AM   #2
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The hang seng was down about 1300 points at some point But it closed only -285. Really crazy day.

My portfolio was down about 5% today and about 20% since it picked last month. I am still up about 50% YTD so I guess I have nothing to complain about.
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Old 08-17-2007, 07:12 AM   #3
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Originally Posted by yona View Post
The hang seng was down about 1300 points at some point But it closed only -285. Really crazy day.

My portfolio was down about 5% today and about 20% since it picked last month. I am still up about 50% YTD so I guess I have nothing to complain about.
Any positive return is great -- let's hope for no further steep declines.
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Old 08-17-2007, 08:54 AM   #4
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I guess we are having a unilateral market melt-up. America goes it alone!

IMO this is all crazy; although I bought in some yesteday I think likely there will be more mischief ahead. Action under uncertainty- not real easy, but at least this is only money.

Ha
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Old 08-17-2007, 11:45 AM   #5
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There is zero visibility on this current mess. Nobody in the financial media really knows what is happening or why, but that doesn't stop them from giving their opinions. I was curious about the NIKKEI and the most reasonable sounding explanation I found was that it had to do with Yen doing so well against other currencies and the weakening Carry Trade. Some of that spilled over to other Asian markets as well as some continuation of the general freakout over credit issues relating to US Mortgages.

I agree with haha. I bought too early in several stocks and now I'm just hanging loose and watching all of this craziness before I send any more money off on wild adventures.
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Old 08-17-2007, 11:50 AM   #6
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Hmph. I was up all night preparing a shopping list.

Anyway, the yen's strength is a huge driver for Japan's export-driven economy. Take a look at the yen vs NIKKEI:

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Old 08-17-2007, 01:46 PM   #7
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Hmm... Are you saying that NIKKEI is heavily dependent on export?

I thought equity is mainly driven by investors' mood.
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Old 08-17-2007, 01:49 PM   #8
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Quote:
Originally Posted by yona View Post
The hang seng was down about 1300 points at some point But it closed only -285. Really crazy day.

My portfolio was down about 5% today and about 20% since it picked last month. I am still up about 50% YTD so I guess I have nothing to complain about.
wow! Congrats. .... care to share your portfolio make up? Thanks.
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Old 08-17-2007, 01:51 PM   #9
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I thought equity is mainly driven by investors' mood.
Oops, you're right. Markets are driven by the 200-day moving average, the season of the year, and where we are in the presidential election cycle. Nobody really cares about the fundamentals.
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Old 08-20-2007, 03:48 AM   #10
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Quote:
Originally Posted by megacorp-firee View Post
wow! Congrats. .... care to share your portfolio make up? Thanks.

I invest in very undervalued stocks. Usually micro caps that trade below net asset value or with very low price / sales ratio or very low price / earning ratio.

Now I am mostly holding real estate companies in Hong Kong that trade well below NAV. I also have some industrial stocks that trade at low single digit P/E.
My two biggest holdings now are 0878.hk & 0997.hk
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Old 08-20-2007, 04:14 AM   #11
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BTW, you can check those Hong Kong stock codes for free on "finet" (in case anyone in interested).
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Old 08-20-2007, 04:38 AM   #12
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It rebounded.

Asian Markets Rebound After US Rate Cut: Financial News - Yahoo! Finance


A round of interest rate cuts will help the bond market (price of existing bonds) and the stock market.

The fed will have its work cut out for them to ride the balance between keeping the economic engine functioning and not upsetting the markets.
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