Bloody hell - it's MELTDOWN on the FTSE

System

Down 10.1% - isn't that a 'crash'?

Dithering_Dad

I'm praying for it to hit 3500, that's where it was during the last recession and that's the point when I put my pension money back into the market. It's currently sat in a cash fund at the moment, gaining not too much interest, but losing nothing at all. I bailed out of shares when the ftse was at 5500 and boy am I ever relieved that I did.

My only regret is that I thought about bailing when the market was over 6000 and did nothing about it

ginvzt

candyflossing wrote: »

Down 10.1% - isn't that a 'crash'?

I can't see that - BBC shows at -5.47% now.

neverdespairgirl

The FTSE 100 closed 238.5 points (or 5.18%) down, at 4366.7.

Max_Headroom_3

formulaonefan wrote: »

What's going on with FTSE today? First it was down nearly 8% then it was up +1% and now it has gone down again nearly 1%

It has gone down nearly 1% even after the news of bank interest rate cuts. Do they know something which we don't know yet?

More and more I find myself concluding that far from knowing what we don't, they actually know nothing at all! When you look at the way it yoyo's with no apparent logic, you start to conclude that most of them just run the same way everyone else is. Once enough turn round and start running the other way then they all follow again.

Can't see any logic to it at all.

mbga9pgf

Max_Headroom wrote: »

More and more I find myself concluding that far from knowing what we don't, they actually know nothing at all! When you look at the way it yoyo's with no apparent logic, you start to conclude that most of them just run the same way everyone else is. Once enough turn round and start running the other way then they all follow again.

Can't see any logic to it at all.

You are not going to believe this but a lot of the trades are done automatically by computer. They are constantly monitoring the newswires, internet, forums constantly and automatically generate buy/sell commands. Why emply traders that make mistakes when you can programme a trading system that rarely makes mistakes and evolves with the market. Its almost like printing your own money (Gordon brown klnows lots about that today.... :mad:)

eyeopener2

mbga9pgf wrote: »

You are not going to believe this but a lot of the trades are done automatically by computer. They are constantly monitoring the newswires, internet, forums constantly and automatically generate buy/sell commands. Why emply traders that make mistakes when you can programme a trading system that rarely makes mistakes and evolves with the market. Its almost like printing your own money (Gordon brown klnows lots about that today.... :mad:)

Thats how Tracker funds work.

Surely this is a sign that a big recession/depression is starting and the markets are reflecting this? Anytime anything is volatile it is generally bad news. I really get a bad feeling about this and no amount of posturing by Brown and his monkey will make the slightest bit of difference.

Ah well at least my HBOS shares have risen, i'm only sitting on a 90 % loss!

Ian_Griffiths_Halifax

Dithering_Dad wrote: »

You should have got a 120% mortgage to buy a house, mewed out loads of money from the equity when its value rose, maxed out your credit cards, had a whale fo a time pretending to be a millionaire and then gone bankrupt and left the mess for the taxpayers to clean up.

In 6 short years you'd be in a position to do it all again! Yay!

Sounds like fun. Where do I sign up?

GracieP

The Dow has just taken a massive tumble in the last hour. I was starting to think it would close "up" today, but I can't see it recovering between now and closing.

borntobefree

Dithering_Dad wrote: »

I'm praying for it to hit 3500, that's where it was during the last recession and that's the point when I put my pension money back into the market. It's currently sat in a cash fund at the moment, gaining not too much interest, but losing nothing at all. I bailed out of shares when the ftse was at 5500 and boy am I ever relieved that I did.

My only regret is that I thought about bailing when the market was over 6000 and did nothing about it

LOL:rotfl::rotfl:That's so funny 'cos I remember DD laughing at posters ( in his own inimitable way:rolleyes:) when they said they were moving their pension money to cash early in 2008. I remember this so clearly as I had just joined MSE. Apparently, moving your money to cash was for only for the truly financially foolish (imagine DD at his most dismissive) or people just about to retire. Bet you wish you'd listened and got out earlier hey DD. He's also chided people for using cash ISAs. This from a man who came to MSE because he owed a ton of money on credit cards.

And oh, the irony, then he had a campaign against Edinvestor for given poor financial advice LOL

DD Financial Wizard. Go buddy...:money:Buy High, Sell Low