Brazil suspend trading....again

Steve_A · 10-10-2008, 01:51 PM

Hi Everbody,

Brazil once again halted trading on the bourse after it fell 10.21%.

Vienna also suspended their bourse this morning.

Best regards,

Steve

Steve_A · 10-10-2008, 02:33 PM

Hi Everybody,

The DOW plummeted on opening and crawled back up to be less cruel, however, I beleive that the last hour of trading should bring the DOW down by around 700 points as the investors / traders won't want to leave their investments over the weekend.

Best regards,

Steve

David · 10-10-2008, 02:49 PM

I agree with you Steve. As an day trader hobbyist, I stepped out of the ring back in July.

Steve_A · 10-10-2008, 08:07 PM

Hi Everybody,

Just to be the first one to say that I was wrong with my prediction.

However it has to e said that the movement of the DOW today was not normal, something, especially during the last hour was propping up the bourse.

Every time the bourse went into negative territory, it jumped back in to positive, that from a low of over 600 points. In my opinion somebody, somewhere was propping up the bourse. I hope I'm wrong again.

Best regards,

Steve

Quote:

Originally Posted by Steve_A

Hi Everybody,

The DOW plummeted on opening and crawled back up to be less cruel, however, I beleive that the last hour of trading should bring the DOW down by around 700 points as the investors / traders won't want to leave their investments over the weekend.

Best regards,

Steve

ghglenn · 10-10-2008, 08:18 PM

"They" propped up the DOW for the G-7 econ summit. Gives Bush a little leverage to say, "See, all is not lost...look how resilient our economy is..." If forgot what they call the group that manipulates the market and shores it up from time to time? Lets just call them "evil manipulative a**holes."

Also, the DOW rarely slams on a Friday, traders don't like to have down weekends. However, I think there is 1000 points to go...

Edit: still closed -128.00

David · 10-10-2008, 08:22 PM

There was also a lot of profit taking towards the end of closing. Hence the reason for the large spike at the 8.8k mark. Not sure the DOW can hold it here;...I'm still looking for support for it but I guess typical chart reading means nothing in today's times.

Rocky_Shorz · 10-10-2008, 10:35 PM

Last night I watched the Japan and China Market do the same thing, people had set a buy in at a point, each time it dropped to it, they would buy in turning the market back up, many have pulled money and are waiting for the bottom so when they see it turn, they are jumping back in.

It's all a psychological game, getting in early enough and out on time to make money. The Fed just needs to get in and nudge it, all the anxious buyers do the rest...

Pretty smart way to prevent a total crash...

We have one side tugging it down, the other propping it up...

If Bush was trying to push for a one world currency, he wouldn't have slowed the fall before the G7 and World Bank meeting...

10-10-2008, 01:51 PM	#1
Steve_A Project Avalon Moderator Join Date: Sep 2008 Location: Northeastern Brazil Posts: 1,259	Brazil suspend trading....again Hi Everbody, Brazil once again halted trading on the bourse after it fell 10.21%. Vienna also suspended their bourse this morning. Best regards, Steve

10-10-2008, 02:33 PM	#2
Steve_A Project Avalon Moderator Join Date: Sep 2008 Location: Northeastern Brazil Posts: 1,259	Re: Brazil suspend trading....again Hi Everybody, The DOW plummeted on opening and crawled back up to be less cruel, however, I beleive that the last hour of trading should bring the DOW down by around 700 points as the investors / traders won't want to leave their investments over the weekend. Best regards, Steve

10-10-2008, 02:49 PM	#3
David Avalon Senior Member Join Date: Sep 2008 Location: Ohio Posts: 398	Re: Brazil suspend trading....again I agree with you Steve. As an day trader hobbyist, I stepped out of the ring back in July.

10-10-2008, 08:18 PM	#5
ghglenn Avalon Senior Member Join Date: Sep 2008 Posts: 107	Re: Brazil suspend trading....again "They" propped up the DOW for the G-7 econ summit. Gives Bush a little leverage to say, "See, all is not lost...look how resilient our economy is..." If forgot what they call the group that manipulates the market and shores it up from time to time? Lets just call them "evil manipulative a**holes." Also, the DOW rarely slams on a Friday, traders don't like to have down weekends. However, I think there is 1000 points to go... Edit: still closed -128.00

10-10-2008, 08:22 PM	#6
David Avalon Senior Member Join Date: Sep 2008 Location: Ohio Posts: 398	Re: Brazil suspend trading....again There was also a lot of profit taking towards the end of closing. Hence the reason for the large spike at the 8.8k mark. Not sure the DOW can hold it here;...I'm still looking for support for it but I guess typical chart reading means nothing in today's times.

10-10-2008, 10:35 PM	#7
Rocky_Shorz Avalon Senior Member Join Date: Sep 2008 Location: USA Posts: 1,098	Re: Brazil suspend trading....again Last night I watched the Japan and China Market do the same thing, people had set a buy in at a point, each time it dropped to it, they would buy in turning the market back up, many have pulled money and are waiting for the bottom so when they see it turn, they are jumping back in. It's all a psychological game, getting in early enough and out on time to make money. The Fed just needs to get in and nudge it, all the anxious buyers do the rest... Pretty smart way to prevent a total crash... We have one side tugging it down, the other propping it up... If Bush was trying to push for a one world currency, he wouldn't have slowed the fall before the G7 and World Bank meeting...