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08-17-2007, 12:19 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 1,703
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Ouch!
NIKKEI down 854 points (5.29%). Should be an interesting market tomorrow....
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Emancipated from wage-slavery since 2002
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08-17-2007, 03:29 AM
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#2
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Dryer sheet aficionado
Join Date: Jun 2007
Posts: 45
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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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Many people die at twenty five and aren't buried until they are seventy five.
Benjamin Franklin
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08-17-2007, 06:12 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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08-17-2007, 07:54 AM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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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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"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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08-17-2007, 10:45 AM
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#5
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Thinks s/he gets paid by the post
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
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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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There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
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08-17-2007, 10:50 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 1,703
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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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Emancipated from wage-slavery since 2002
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08-17-2007, 12:46 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,155
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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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08-17-2007, 12:49 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,305
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__________________
Life is GREAT!
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08-17-2007, 12:51 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 1,703
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 Quote:
Originally Posted by Sam
I thought equity is mainly driven by investors' mood.
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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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Emancipated from wage-slavery since 2002
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08-20-2007, 02:48 AM
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#10
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Dryer sheet aficionado
Join Date: Jun 2007
Posts: 45
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Quote:
Originally Posted by megacorp-firee
wow! Congrats. .... care to share your portfolio make up? Thanks.
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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
__________________
Many people die at twenty five and aren't buried until they are seventy five.
Benjamin Franklin
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08-20-2007, 03:14 AM
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#11
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Recycles dryer sheets
Join Date: Jul 2007
Posts: 119
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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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08-20-2007, 03:38 AM
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#12
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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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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