Black Monday on Wall Street/London?

[PigDogg]

All the central banks cut rates in a coordinated move and turned Europe markets around as well as USA stock futures.

But the interest rate is not the key issue. I'm not sure how lower interest rates reduce counterparty risk.

But what do I know, I can't even figure out how many cats and Louie V bags are in the ladyboy van.

[jaymee]

Market should rebound till late october, and then head alllll the way down.

I think Dow 7200 would be possible quite soon.

[azza33]

i agree Jaymee... typically September to 1st week or so in October is ugly and then a bounce occurs...

I think the markty now realises what i new about 12 months back and hopefully we get some stability for a while.

Once the earning reports flow through in the next 3-6 months... S & P - 800 here we come

[jaymee]

(PigDogg @ Oct. 08 2008,18:39) All the central banks cut rates in a coordinated move and turned Europe markets around as well as USA stock futures.

But the interest rate is not the key issue.   I'm not sure how lower interest rates reduce counterparty risk.

But what do I know, I can't even figure out how many cats and Louie V bags are in the ladyboy van.

This obviously didn't help

The LIBOR hasn't eased at all. The firms, at least those I know in my country, that are too highly geared are starting to die now.

[jaymee]

Trader's reactions to the rate cuts.

[azza33]

so much for a bounch

Fark~~

[azza33]

I guess my call of 800 on S & P as the low may need to be revised down to 8!

[katoeylover]

On Wall Street, the Dow Jones ended down 7.33%, or 678.91 points, to 8579.19 points.

How low can it go?

I say 7500 by end of october!!

[jaymee]

The dow will head to 7200 thereabouts - recovery will be L shaped, but inflation will rear its head again.

The massive injections and overworked money printers will raise commodity/hard asset premiums, especially in precious metals which will escalate to never seen before levels.

Runaway inflation will kill everything in the end.

[katoeylover]

FTSE opens -10%, but clawing back.

Seems like this has a way to go yet.

[jaymee]

My target of 7200 might be actually attained tonight...