1 Like
There’s lots of imaginary money looking for a home, and lots of idiots in charge of it.
And lots and lots of algorithm trading I’d imagine.
Present company excepted of course.
1 Like
UK
France
Germany
Spain
Italy
All down more than 5% today.
US down over 3% today.
Dow is now 0.7 down and Nasdaq 0.4% down
Somebody made a lot of money today
Call the Duke brothers quickly
3 Likes
Intraday movements are meaningless, its all manipulation either to allow large institutions exit positions or squeeze the fuck out of the shorts. Look at the trend, it is extremely ugly. The US stock market has been in a topping pattern for 6 months and is now rolling over. That’s the last domino as emerging markets have already collapsed and Europe is following suit. This will last at least through October and probably the end of the year and we are nowhere near the bottom.
What exchange is the GBX?
Greenbrier? NYSE. I wouldn’t touch anything related to transportation yet but it should be one of the first to recover. The DJTA (transportation index) is one of the leading indicators for the broad market and is down 15% since April, GBX is down 45% so could be near a bottom.
No, its an English exchange I thought. Some UK stocks listed on it
Sorry. The only other GBX I’m familiar with is the penny sterling, 1/100 of a pound, which some exchanges use instead of the GBP.
There’s a GXG which is a Danish exchange which lists some UK stuff not listed there, generally for suspect enough reasons.
This could well be it
Yep. Pints in Iron Mikes tonight!
1 Like
Are any of you getting mildly scared at what’s happening in the markets at the moment? The Glencore thing alone is very worrying.
The ballsy guys don’t scare easily pal. Greencore had it coming anyway.
3 Likes
oz is fucked thats for sure
3 Likes
This is like a slow moving train wreck much like the collapse of the real estate bubble in 2007/8. Commodities started sliding in June/14 and are down almost 50%, global equities topped earlier this year and are now clearly in a bear market (only the wishful thinkers are calling it a correction). If commodity prices stay where they are then Glencore, Nobel Group, Trafigura, basically all the commodity trading firms are toast. CDS prices for Glencore are now at a similar level Lehman was in just before it went bankrupt. My advice would be to get out, out of equities, out of high yield bonds, and out of Australia before it implodes.
4 Likes