8/8/11 European stock market watch.

The Asian/Pacific markets have opened awhile ago and most are down 1 - 2% with a few maintaing their levels. I wonder how this will translate into the European Stock markets? I have a feeling that it'll be similar to the Asian zone with a massive sell off at the open, then a slight raise as people bargain shop and then a holding pattern to see how the Asian stocks close and how the US stocks open. By no means am I an expert, just giving my 2 cents. What do you all think will happen?

European Stock Indices:

Allstocks.com - Europe

Link to the Asian Stock Market watch thread: www.abovetopsecret.com...

Looking at the downward trend with the stocks in Asia, Europe will follow the same path, but it might be a bit worse coupled with the problems Italy, Spain and Greece have been having with debt.

If the investors in Asia panic, then I could see the same taking place in Europe and the states. At first everything seemed cool, with the exception of Israel. Then a massive sell off starting occurring just within the last hour. Looks as if even the bargain hunters and day traders are steering clear, or they could just be waiting a little longer before they buy again.

Looks like another long night of watching stocks for me. So far it looks like Asia isnt doing to well. I wonder if the Hang Seng is going to fall over 1,000 points again.

www.marketwatch.com...

[atsimg]http://files.abovetopsecret.com/images/member/7dfb733ed245.jpg[/atsimg]

BTW - I dont think the Sensex has opened up yet.


Well I updated the above screenshot, but less than a minute later, Shanghai is nearly at -5% and Hang Seng is still falling....

Have you seen Hong Kong/Hang Seng? It's incredible. They've been taking a steady nose-dive since their market opened today.

Currently they are down 805 points which puts them at -3.85%.

Waiting for the U.S. market to open is like watching a lit fuse to a stick of dynamite...


*Edit: the post above mine says pretty much the same thing lol

Seems like traders had their algorithms set to buy when the Hang Seng and CSCI got close to 25k / 2.5k respectively which is caused a slight uptick before it crossed those thresholds. How long will that last?

Originally posted by hypr2011
Looking at the downward trend with the stocks in Asia, Europe will follow the same path, but it might be a bit worse coupled with the problems Italy, Spain and Greece have been having with debt.

Nobody in Europe is having debt problems anymore!

ECB just announced Quantitive Easing 1 for Europe.. for the first time ever the ECB can buy sovereign bonds. It's being called the Shock And Awe, the Bazooka, the Big Guns and numerous other idiotic things in European papers.

It also means a new Currency War between the USA and Europe.. if Europe has QE1 we need QE3 to keep the status quo .. to much EUR inflation will result in depreciation of value, like the USD did..........

This markets FUBAR.


www.bloomberg.com...

Buying Italian and Spanish debt may require the ECB to massively expand its balance sheet and open it to accusations of bailing out profligate nations, breaching a key principle in the euro zone’s founding treaty. Germany’s Bundesbank opposes the move.

The ECB just shattered the EUR treaty.. it's officially taxing EUR members through inflation to save specific nations. If I were European (minus PIIGS) I'd be pissed off about now!

ALSO .. because of the recent shenanigans by the ECB, France is expected to loose it's AAA rating..
www.bloomberg.com...

European stocks are about to open. Its not looking too good at the moment.

Asia stocks have been getting hit pretty hard right now. S&P ASX closed at -2.71% I believe. Still some time left for other Asia stocks, but most down over -2%

European stock index futures point to losses

LONDON (MarketWatch) -- European stock index futures dropped sharply Monday, pointing to losses for all of Europe's major markets following Standard & Poor's decision to downgrade the U.S. on Friday. Futures on the FTSE 100 index dropped 121 points, or 2.3%, to 5,109 and futures on the German DAX 30 index were down 131.50 points, or 2.1% at 6,126. The losses for European futures came as Asian markets also posted big falls, including a 2.2% drop for Japan's Nikkei Stock Average

Just going out on a limb here.....Im guessing Euro stocks are going to be hit hard

ETA - European stocks have just opened up....here we go

i predict another 500 pts drop for the dow today

Here's a little update on how the Euro stocks are going

This is a few minutes after they opened

[atsimg]http://files.abovetopsecret.com/images/member/22cfcaa30794.jpg[/atsimg]

They had a little help with the European Central Bank buying sovereign bonds. Spanish and Italian banks were helped the most by this.

Europe stocks rise as ECB pledges bond buys

LONDON (MarketWatch) — European stock markets rallied Monday as a pledge from the European Central Bank to buy sovereign bonds sent bank stocks soaring and helped investors shrug off the decision by Standard & Poor’s to downgrade the U.S. credit rating.

About 30 minutes later, here is where they are

[atsimg]http://files.abovetopsecret.com/images/member/d4bd0813157c.jpg[/atsimg]

FTSE MiB and IBEX are doing well, but it looks like the others have passed the ECB bond buying pledge.

reply to post by buni11687

Europe stocks rise as ECB pledges bond buys

HAHA what a joke the stocks because the ECB pledges bond buys which will further destroy other European countries as it did with greece.

We'll see how long that false confidence lasts...

double tap

Slow but steady this thing is going down. Anybody see a blue sky at the horizon? ..honestly..?

At this point, when everybody and their cousins are talking about recession or the downfall of the world economy its kind of obvious. I realy do hope theres a solution to all this but I fear people might be angry, like what we saw (or see) in Greece and recently in England.

Here's another update on the European stocks.

Minutes after they opened

[atsimg]http://files.abovetopsecret.com/images/member/22cfcaa30794.jpg[/atsimg]

Now a few hours after they opened

[atsimg]http://files.abovetopsecret.com/images/member/21dc2a970950.jpg[/atsimg]

This article says it best.

blogs.marketwatch.com...

The early rally in Europe is already over, and the mood has turned to the negative, big time.

Italy, which had been up over 3% in early going is now off 0.5%.

Germany is down about 2%.

France is down 1.8%.

In the U.S., futures are down about 2.5% — close to the worst of the day — after at one point being just off less than 1%.

Already a crazy day, and most of you aren’t even up yet.

Treasury yields have also been up and down this a.m., while U.S. stock futures for their part have at least been consistent so far: Down, down and down.

And here's a screenshot from marketwatch.com

Minutes after the European stocks opened

[atsimg]http://files.abovetopsecret.com/images/member/22cfcaa30794.jpg[/atsimg]

And here's how they stand right now

[atsimg]http://files.abovetopsecret.com/images/member/ad4d430c6876.jpg[/atsimg]

Indeed it has been an interesting day, but no doom and gloom (so far) as many expected. The markets are very jittery but depending on how the US markets do today will either make things get better or worse. I went ahead and made one thread to monitor the entire situation. Please redirect your thoughts here. Thanks

www.abovetopsecret.com...

Originally posted by Ben81
i predict another 500 pts drop for the dow today

It his now -505 pts (East 15:00)
i was pretty damn close
lets see how it goes until the market close