JSE down 3.5%...

Hold on tight. The ride has just started :o
 
Doesn't directly affect me. Maybe there will be some bargains coming in a few months time. ;)
 
http://jsefin.hosted.inet.co.za/news/story/8347f58d-ec45-4b29-968d-0dacaf62a02d

JSE drops on world fears

By Nicole Rego

South African stocks pulled back sharply along with world markets, which were being drained by fears of a US recession and a global economic slowdown.

At 9:30, the all share index was 3% weaker, banks fell 3.16% and financials gave up 2.76%. Resources retreated 3.33%, while the gold and platinum mining indices dipped 2.18% and 2.94% respectively. Industrials pulled back 2.64%.

The rand was bid at 7.14 to the US dollar from 7.06 when the JSE closed on Friday, while gold was quoted at USD878.90 a troy ounce from USD882.35/oz at the JSE's last close.

ETM analysts said in their morning report that ahead of today's Martin Luther King public holiday in the US, investors showed just how concerned they are about economic conditions as they chose to short equities and establish fresh long volatility positions.

Not only has Bush's economic stimulus package disappointed by some who feel it may not be enough, but news out of both Europe and Japan suggest that the US' woes have now spread far beyond US borders, they said.

"The JSE is down because of world markets, as Asian markets are lower, and on Friday, the Dow was positive, but then turned around," said a local trader.

On Friday, the DJIA gave up 0.49%, the Nasdaq lost 0.29% and the S&P 500 shed 0.6%. In Asia today, the Hang Seng retreated 3.5% and the Nikkei lost 3.86%.

Dow Jones Newswires reports that jitters surrounding financial sector shares are still shaking stock markets.

It said that European stock markets are likely to start lower, and added that with Wall Street away, investors are asking what it will take to revive its markets.

"Anglo American and BHP Billiton are down quite a lot today, and they make up quite a big percentage of the top 40 on the JSE," the local trader added.

Anglo American (AGL) fell 13.10 rand, or 3.55%, to 355.90 rand and BHP Billiton (BIL) was down 7.43 rand, or 3.88%, to 184.26 rand. Sasol (SOL) gave up 9.50 rand, or 2.91%, to 317.50 rand.

Platinum miner Anglo Platinum (AMS) was 30 rand, or 2.84% lower, at 1,025 rand, Impala Platinum (IMP) declined eight rand, or 3.14%, to 247 rand and Lonmin (LON) pulled back 19.05 rand, or 4.2%, to 435 rand.

Among gold counters, AngloGold Ashanti (ANG) dipped 3.12 rand, or 1.01%, to 306.98 rand and Goldfields (GFI) retreated 3.95 rand, or 3.42%, to 111.55 rand.

Diversified industrials group Barloworld (BAW) was down 4.39 rand, or 4.91%, to 85.11 rand and brewer SABMiller (SAB) slipped 5.78 rand, or 3.52%, to 158.21 rand.

Among banks and financials, Investec Ltd (INL) gave up 1.78 rand, or 3%, to 57.50 rand, Investec Plc (INP) dropped 1.95 rand, or 3.35%, to 56.25 rand and RMB Holdings (RMH) weakened 1.24 rand, or 4.51%, to 26.26 rand. Standard Bank (SBK) fell 2.95 rand, or 3.14%, to 91.05 rand and Firstrand (FSR) was off 67 cents, or 3.77%, to 17.12 rand.
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no good news out their? JSE is at low PE's, but we did double up in the last 3 years, and economies worldwide all look to slow and/or go into recession. well at least the oil price is falling, which is usually good for markets, and which could also weaken the gold price, which could weaken the rand, which is also good for JSE prices.

many great technical analysts on bloomberg also call a further 10% correction from here we forming a bottom at ~22000 on TOPI? if i correctly see a elliott wave pattern on the 5y TOPI, if we go through 22000, we could even go as low as 17000:eek:, but that seems extreme, 61% fibonacci is 20k~, any other levels?

Saudi could put much oil in the markets, and Bush has asked them to do that, if they do, the oil price may fall further, and markets may get more potential energy for a bounce if good economic news comes out next week.

right now, i don't see any good/bad economic news, have to wait for next week?
 
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This is the last couple of years.

31/03/2005 13,299
30/04/2005 12,556
31/05/2005 13,787
30/06/2005 14,155
31/07/2005 15,144
31/08/2005 15,414
30/09/2005 16,876
31/10/2005 16,433
30/11/2005 16,775
31/12/2005 18,097
31/01/2006 19,745
28/02/2006 19,085
31/03/2006 20,352
30/04/2006 21,136
31/05/2006 20,565
30/06/2006 21,238
31/07/2006 20,886
31/08/2006 21,954
30/09/2006 22,375
31/10/2006 23,338
30/11/2006 23,950
31/12/2006 24,915
31/01/2007 25,448
28/02/2007 25,796
31/03/2007 27,267
30/04/2007 28,171
31/05/2007 28,628
30/06/2007 28,337
31/07/2007 28,562
31/08/2007 28,660
30/09/2007 29,959
31/10/2007 31,335
30/11/2007 30,308
31/12/2007 28,958
31/01/2008 26,653
 
it's like the stock markets and big companies are just sucking up all the money, but yet PE's are very low, and interest rates are high, and world dept is high, population is not increasing as it used to, global slow down in '08, i think
also, alt energy is gaining ground, recoverable oil seems to be higher than the market thinks, saudi has much it just keeps back, it will eventually need to send out more oil, as a global slow down happens, and then their is the Iraq war, if it slows down, their may also be more reasons why oil prices may fall, this may save exchanges. but their are lots of factors, would be very careful
 
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What's he/she banned for?

[on topic] the second I read a drop in the JSE I thought to myself, "Loadshedding right?". Doesn't look good at all :( [/on topic]
 
Currencies Value %
ZAR/USD 7.19 1.85
ZAR/EUR 10.42 0.96
ZAR/GBP 14.00 1.28
USD/EUR 1.45 -0.80
AUD/USD 1.16 1.96

2:59pm
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That sort of hurts today as well.

Not only has Bush's economic stimulus package disappointed by some who feel it may not be enough, but news out of both Europe and Japan suggest that the US's woes have now spread far beyond US borders, they said.
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http://www.fin24.co.za/articles/default/display_article.aspx?ArticleId=1518-1791_2255624

I don't think that the US is the only country that is going to have a subprime like fallout. The early 2000's were high times, and now the lack controls are coming to roast on the world as a whole, IMO.
 
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