| Author |
|
John Byrne
Grumpy Old Guy
Joined: 11 May 2005
Posts: 132359
|
| Posted: 25 June 2016 at 6:39am | IP Logged | 1
|
|
|
The Stock Market has reacted as I feared it would, with greedy cowards prepared to destroy our economy in order to save their own skins.******************************** I hear what you're saying, but it is definitely more complex than that...the value of companies doing international business dropped by millions today just due to currency value dropping, and will continue to do so. •• This is true, but I have been tracking the market for a long time, now, and I note that every time there is the least blip overseas, there is a rush to sell here. I've often said I think there should be some kind of system built in that locks the market down whenever something "bad" is happening in another part of the world. Of course, there's ALWAYS something bad happening in another part of the world, so. . . . . .
|
| Back to Top |
profile
| search
|
| |
Philippe Negrin
Byrne Robotics Member
Joined: 01 August 2007
Location: France
Posts: 2644
|
| Posted: 25 June 2016 at 9:48am | IP Logged | 2
|
|
|
Couldn't we just have a global referendum about shutting down the Stock Market System altogether and use real money on real business instead?
|
| Back to Top |
profile
| search
|
| |
Wilson Mui
Byrne Robotics Member
Joined: 27 June 2004
Location: United States
Posts: 4526
|
| Posted: 25 June 2016 at 11:47am | IP Logged | 3
|
|
|
Money in the stock market does go to real businesses in the form of IPOs and secondary offerings. Not many people would buy or accept shares as compensation if they couldn't sell them easily.
I blame the high frequency traders for the volatility in the market. They exacerbate the swings we see in both directions. Warren Buffett once suggested banning short term trading.
Edited by Wilson Mui on 25 June 2016 at 5:14pm
|
| Back to Top |
profile
| search
|
| |
Bob Simko
Byrne Robotics Security
Negative Mod
Joined: 16 April 2004
Posts: 5982
|
| Posted: 26 June 2016 at 10:44am | IP Logged | 4
|
|
|
I blame the high frequency traders for the volatility in the market. They
exacerbate the swings we see in both directions. Warren Buffett once
suggested banning short term trading.
*******************
Thi sis what causes all the craziness. My 401K was definitely not responsible
for the market movements this week, but certainly suffered for it. That being
said, I don't anticipate needing to look at tapping into it for another 30 years or
so...not too worried about the dip. The banks/companies/governments doing
the make-money-now-trading...oy...
|
| Back to Top |
profile
| search
|
| |
Bill Collins
Byrne Robotics Member
Joined: 26 May 2005
Location: England
Posts: 11252
|
| Posted: 26 June 2016 at 2:26pm | IP Logged | 5
|
|
|
The parasites of the financial industry were working through the night,poised to make a killing whatever the outcome.
|
| Back to Top |
profile
| search
e-mail
|
| |
Bob Simko
Byrne Robotics Security
Negative Mod
Joined: 16 April 2004
Posts: 5982
|
| Posted: 27 June 2016 at 4:33pm | IP Logged | 6
|
|
|
That's kinda the point of the stock market
|
| Back to Top |
profile
| search
|
| |
Brian Miller
Byrne Robotics Member
Joined: 28 July 2004
Location: United States
Posts: 30907
|
| Posted: 27 June 2016 at 7:59pm | IP Logged | 7
|
|
|
Well, the Brexit must be scaring the oil companies. Gas in my town went up $.12/ gallon today. It had been going down for the last couple weeks.
|
| Back to Top |
profile
| search
|
| |
Bill Collins
Byrne Robotics Member
Joined: 26 May 2005
Location: England
Posts: 11252
|
| Posted: 28 June 2016 at 12:28am | IP Logged | 8
|
|
|
Brian,same as the stock market,with gas/petrol! The price of oil hasn`t changed all year,in fact over here petrol has been cheaper than it`s been for years,but since April it`s crept up slowly by 12p a litre(Yes we do litres not gallons cos of Europe even though we think in miles per gallon!) for no apparent reason!
|
| Back to Top |
profile
| search
e-mail
|
| |
Leigh DJ Hunt
Byrne Robotics Member
Joined: 20 February 2008
Location: United Kingdom
Posts: 1570
|
| Posted: 28 June 2016 at 4:17am | IP Logged | 9
|
|
|
(Yes we do litres not gallons cos of Europe even though we think in miles per gallon!) for no apparent reason!
----------------------------------
Who is this 'we'? I pay in litres so I think in litres. I can guess what way you voted if you think this is some sort of problem for you.
|
| Back to Top |
profile
| search
|
| |
Peter Martin
Byrne Robotics Member
Joined: 17 March 2008
Location: Canada
Posts: 15825
|
| Posted: 28 June 2016 at 8:08am | IP Logged | 10
|
|
|
The price of oil hasn`t changed all year,------------------------------------------------- OK, could we please stick to the facts.
There are two main oil benchmarks: US light sweed crude (aka West Texas Intermediate or WTI) and Brent Crude.
WTI was $30 a barrel in January. It hit $51 a barrel this month.
Brent crude is almost the same price as WTI and has had the same price movements.
A 70% rise in the price cannot be described as not changing all year.
The price of oil sold off massively last year as there were worries of a global supply glut. Since then, a number of US oil rigs have been shut and terrorists have slashed Nigerian production massively (Nigeria was the biggest oil producer in Africa before the terrorists starting blowing up their pipelines). Nigerian oil production is down by about 50% because of the attacks.
Edited by Peter Martin on 28 June 2016 at 8:09am
|
| Back to Top |
profile
| search
|
| |
Peter Martin
Byrne Robotics Member
Joined: 17 March 2008
Location: Canada
Posts: 15825
|
| Posted: 28 June 2016 at 8:12am | IP Logged | 11
|
|
|
And even if the price of oil hadn't changed, oil is priced in US dollars the world over.
One of the many effects of Brexit has been a sharp strengthening of US dollar relative to the pound. This means sterling-priced petrol should go higher if British refineries are converting their weaker sterling to pay for US-dollar denominated oil required to refine the petrol.
Edited by Peter Martin on 28 June 2016 at 8:13am
|
| Back to Top |
profile
| search
|
| |
Peter Martin
Byrne Robotics Member
Joined: 17 March 2008
Location: Canada
Posts: 15825
|
| Posted: 28 June 2016 at 8:22am | IP Logged | 12
|
|
|
All imports should be more expensive in the UK now, to go alongside the shortfall in UK finances and the risk of sterling being dropped as a global reserve currency.
Just as was warned by every economist who was asked ahead of the vote.
S&P have also cut the UK's credit rating by two notches from AAA to AA.
And there is no real opposition party and no real plan for what happens next.
As for the stock market, it is a free market. You cannot force someone to hold assets they don't want any more, just as you cannot force someone to buy something they don't want.
Anyone brave enough to hold on to their risky assets on Friday would have found those assets were worth less on Monday. If the argument holds true that this is simply a temporary blip and that prices MUST return to a higher level, then there must be free money to be made by EVERYONE right now by buying those assets at the current depressed levels. But they won't, because there is no guarantee this is temporary and those prices are where both buyers and sellers see the correct value currently.
|
| Back to Top |
profile
| search
|
| |
Topic Closed)
