East Asian spot LNG prices rise sharply

[Palm]

You too, but S&P is a bit better to watch than Dow. Russell 2000 is now in correction mode. Could be an October swoon like we have seen before; good to have some cash to invest on dips.

[jft310]

Oct is when markets bottom, what month is it?

[sydbod]

Oct is when markets bottom, what month is it?

HEHEHEHEHE!!!!! Not always but usually that is the case.

Looks like Dow and S&P both bounced from their lows upwards around midday your time.

IOC bounced from its low just a little after that.

Can it be right .... is this current drop in the prices over and we can take a breather again. Let us hope so.

[Palm]

I think we may yet be in for a healthy correction. If you look at some historical S&P 500 EPS data and when corrections have taken place we are at some pretty lofty heights. With all that is going on in the world, and where the Fed could be headed, the jobs report tomorrow could be a catalyst if it is a disappointment. The US economy is one of few bright spots and if it appears it is faltering, we might see it start on down.

[admin]

Not convinced, but FWIW

Even as stocks are sliding hard, the biggest options traders have been making bullish wagers on stock indexes—which could indicate that the big money senses a buying opportunity in the market.

As stocks slide, the big money is getting in

There seems to be some de-escalation in Hong Kong, at least for now. From what I understand about it the crux is whether the working poor are joining the students (which is what happened in China 1989), and that doesn't seem on for now. If there is a "silent majority" in favor of order and business as usual, the protests will slowly peter out.

This is all from a market perspective, of course, lest someone starts calling me a commie

If China wants a developed, creative, innovative, knowledge based economy they'll have to face this question posed by Hong Kong students sooner rather than later..

[admin]

This of course is also depressingly possible. And Edwards isn't somebody you easily ignore.

The Japanese yen goes into freefall. China’s fragile economy tips over the edge. A wave of profit-crushing deflation comes washing over the U.S. and Europe. Investors panic.

Albert Edwards Says Watch Japanese Yen and Be Very, Very Afraid - Bloomberg

[sydbod]

This of course is also depressingly possible. And Edwards isn't somebody you easily ignore.

The Japanese yen goes into freefall. China’s fragile economy tips over the edge. A wave of profit-crushing deflation comes washing over the U.S. and Europe. Investors panic.

Albert Edwards Says Watch Japanese Yen and Be Very, Very Afraid - Bloomberg

That put the wind up me.

Oh well .... today turned out good in Australia.

At the market close the 4 banks together climbed around 1% for a market rise of about 0.3%.

I did jump back into oil/gas shares, but they basically did not move one way or the other for me.

Of interest, the various oil/gas companies basically stayed where they were. This for us is a positive sign as normally they tend to drop a little because of uncertanty of what may happen over a normal weekend let alone a 3 day weekend that we will have this time. From this side of the pond it is looking like the big slide in oil/gas shares may be over. I sure hope so. It is now up to the U.S. market this friday to finally confirm if this actually is the case or not.

[jft310]

Warren Buffett on CNBC yesterday stated he was a buyer when the market dropped . In fact he bought a car company . People buy more cars when they feel good about their personal situation . That said its still October . Statistically Sept is the worst month of the year but October is when we see bottoms historically but the percentage drop has sept as the winner . Markets bottom in Oct but also start recovering in Oct . Finding the bottom requires charts and some luck .