asx monday predictions, page-25

There was a 400 point intra session drop and recovery in the Dow on heavy volume which must have been partially due to the S&P ratings downgrade rumours offset by potential Spanish and Italian bond buying from the ECB.

igmarkets have us at 4080 (down 25 points) although i believe the futures markets were closed when the S&P confirmation was announced on Saturday morning

hoping for a lower open on Monday then a short term rally but no idea really, wait and see how it unfolds, maybe some news will come from the overnight crisis meeting from Euro area tonight


some news articles below


Euro-Area Central Banks to Hold Crisis Call

http://www.bloomberg.com/news/2011-08-06/euro-region-central-banks-will-conference-tomorrow-on-debt-u-s-downgrade.html




A Q&A on S&P's downgrade of US debt


Read more: http://www.thenewstribune.com/2011/08/06/1773389/a-qa-on-sps-downgrade-of-us-debt.html#ixzz1UIotXGLJ


S&P officials defend US credit downgrade

http://finance.sympatico.ca/home/sp_officials_defend_us_credit_downgrade/10097140



China Tells US 'Good Old Days' of Borrowing Over

http://www.cnbc.com/id/44044859



U.S. Downgrade Casts Doubt on AAA Countries

http://www.bloomberg.com/news/2011-08-06/el-erian-says-s-p-s-downgrade-of-u-s-casts-doubt-on-other-aaa-countries.html



S&P Erred in Cutting U.S. Rating: Buffett

http://www.bloomberg.com/news/2011-08-06/buffett-says-s-p-s-downgrade-mistaken-still-doesn-t-see-another-recession.html