Welcome to the Stock Market Crash of 2011

[littleman]

>...the buying window for easy money just closed, in my mind.

That's the thing about windows, they tend to keep opening and closing...

[I, Brian]

Think we'll see the FTSE 100 try and maintain suport around the 5000 mark at present, but will fall lower over the coming months. There is just no good economic news, and plenty for the markets to panic about.

[eurotrash]

Back in 2001/2/3 I was buying 10oz silver bars on 47th St in NY for around $50-80 if I remember correctly and I am sure some were cheaper than that because I remember getting change for $100 buying 2.  I called up the company yesterday for prices and it is over $437 a bar plus tax.

I remember a guy I worked with in NY thinking I was an idiot because I had to store them all.

btw.  The helmet I am wearing in the pic is 147 ozs

[dogboy]

>The helmet I am wearing in the pic is 147 ozs

What an epic statement:)

[I, Brian]

Today with the FTSE 100 falling to 5200 the banking stocks I watch (RBS, BARC, LLOY, HSBC) have gone past their lows when the FTSE went to 4800.

As I figure the FTSE has further to fall, will be interesting to see where these go.

Seeing an opportunity perhaps in the Autumn, but am resisting the chance to jump in now as feel like will almost certainly get burned.

[Brad]

I've got an investment club meeting tonight and I'm recommending buying something or increasing our stake in some company.

[I, Brian]

FTSE 100 was down over 5% at one point, and the DJI down nearly 4% so far. Gold up to $1820.

Bear market in full flight.

[rcjordan]

Crap, the last time the market did this we were at least able to find some comfort at the hotel bar in Limerick.

[Rumbas]

Hehe, I remember that RC. We literally watched Iceland crumble and the whole world bitching about it over a couple of Guiness pints. History repeats itself.

[I, Brian]

Interesting to see talk again or another Autumn crash:
http://www.telegraph.co.uk/finance/financialcrisis/8721151/Market-crash-could-hit-within-weeks-warn-bankers.html

No real detail of the signals given, but interesting to read today about Greek banks taking up a last stop emergency fund:
http://www.telegraph.co.uk/finance/financialcrisis/8723588/Greece-forced-to-tap-emergency-fund.html

Gold has dipped down - might be a time to consider buying. Anyone buying physical gold outside of the US, or just stocks in mining companies and gold ETF's?

[dogboy]

>Gold
IMO, gold is unique investment because it's basically liquid and physically compact... so I'd forget the paper, and just load your pockets with Kugerands and Eagles:) Gold doesn't rust, wont corrode with sea water, and most importantly, it's very shiny.  

And shiny is very important to people:)

[I, Brian]

Just ran a search for Bob Janjuah on Google News, and there's one piece from CNBC worth looking at:
http://www.cnbc.com/id/44241363

Bob Janjuah called the crash of 2008 before it happened, when he worked for RBS:
http://www.financemarkets.co.uk/2008/06/18/rbs-warns-of-new-stock-market-crash/

However, he did also call a crash for late 2009 as well - instead, stock markets rallied from the early March lows:
http://www.financemarkets.co.uk/2009/08/14/stock-market-to-crash-again-in-2009/

Even still, it was maintained by Janjuah as well as Nouriel Roubini that the existing rally was a bear rally, something we are finally seeing coming to pass.

Speaking of Nouriel Roubini - one of the main prophets of the coming 2008 crash - he is also basically stating that we're heading into recession again (big surprise there):
http://www.moneycontrol.com/news/fiiview/drdoomroubiniseesrecessionqe3atdoorstep_580222.html

I used to be subscribed to Roubini's newsletter, but let that lapse*, so I can't see much detail on his website of what's he's currently claiming in any detail.

* after it became overrun by articles from his cronies which were totally clueless

Btw, if not a totally stupid question, how do I buy physical gold at spot prices in the UK? Never figured that out. Or do I have to mail order from America?

[Gurtie]

there's lots of places to buy small assayed bars in the uk - not sure where you'd buy kg bullion bars though, if thats what you're looking for.

[mick g]

Give Kenneth Noye a ring

http://en.wikipedia.org/wiki/Brink%27s-MAT_robbery