# Who else is quietly shaking their head?



## gordon2007 (22 January 2008)

Just wondering, is there anyone else there like myself who really has no idea what to do right now. I've just been sitting back watching this massacre now for the past couple of weeks. 

I'm down a good chunk of money but don't want to sell because I think it will all come back to value in time. I just sit here most days and barely even participate because I don't know what to do in a bear market. Hence I just sit here and shake my head and am left wondering. 

So what are the others who are new to trading doing during this market?


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## ToddPowers (22 January 2008)

You're not alone, I feel exactly the same way.


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## chops_a_must (22 January 2008)

Do what I did in Feb/ March last year and LEARN. You never get a better opportunity to do so than during these times.


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## dhukka (22 January 2008)

I sat slack-jawed, watching the screens during the dotcom meltdown. You'll be better for the experience and more prepared next time round.


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## lbradman (22 January 2008)

Have you considered hedging your portfolio by shorting the index? That should let you ride this period out until the prices come back to good 'value' like you said?


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## roland (22 January 2008)

It's a tough call - makes you feel stupid for not having done something earlier. I'll probably hold all since I started accumulating dividend stocks, then maybe do some dollar averaging when the dividends come through.

When I feel bad, I find it helps to bring up a 20 year chart of the market and say to myself it just has to go back up.


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## agro (22 January 2008)

yeah very good learning experience imo

i am holding to be honest - fundamentals of companies haven't changed just the value

you get more bang for your buck too when u take opportunities like these

i can't see any point in panic selling and following the herd..

look to the future


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## DionM (22 January 2008)

Heh, we should have a club.

Every time I think a bottom may be reached, down things go again.  It's so unpredictable.

Myself, I am sitting tight.  There's not much else I can do, to be honest.  I don't know what to do in a market like this - I buy mostly for the long term so I don't know how to 'think' in terms of shorting positions and the like, so I can't make money that way.


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## skating101 (22 January 2008)

Im shaking my head at all this right now but one thing you've got to be certain of is the fundamentals of the companies that you have invested the dot com bubble was understandable because the companies typically had nonexistent fundamentals, im more of a resources man  
btw im down a chunk too holding on long term maybe even buying more if it dips further


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## Rainmaker2000 (22 January 2008)

Love the headline guys............I can't get access to the Comsec website, so what better than be here...heheh.......I'm pretty sure ASIC requires a broker website to always be accessible but hey, its all red I'm sure.....

Apparently we have now reached the technical definition of a bear market, 20% down from peaks........I'm just glad I'm here to see it cause its a great experience......have no intention of not being fully invested with margin cause there is some great value out there......the lvr has been riding upwards of course..hehe


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## Uncle Festivus (22 January 2008)

The market can stay irrational longer than you can stay solvent (or words to that effect).


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## cordelia (22 January 2008)

ok I sold the last of my blue chips last week. I lost a heap but now they are a lot cheaper so when the time is right I will buy them back. At the time when I sold them I thought "what if they go back up" and looked at all the possible scenarios......I should have had a stop loss earlier on.....I will never buy another share without first deciding when I will sell..That's the lesson I have learnt.
Also there are people who have bought at slightly higher prices all the way down and they are thinking as soon as they go back up I will get out. It may take a long time to go back up to the levels that I bought in and I am not prepared to wait 3 or 4 years.


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## habs (22 January 2008)

i think we are all shaking our head... and wait for tomorrow.....

there are some smaller companies that have been hit insanely hard by this, just like the august correction, where they fell much much more than the all ords... same thing is happening again... for example, ago and cvn ... basically lost 40% in a few weeks... they may bounce back if the fundamentals are good

anyway... just watch and learn.


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## tech/a (22 January 2008)

My take on what to do.

If your caught long and are sitting on large losses then there is not a lot you can do.

Look for volatility to calm down.
Being a hero during volatility is plain crazy,we need some consolidation.

If the stocks you have arent altered fundamentally by global meltdown then there will be opportunity to buy in again just like it was a new position(Even if you already hold it at a loss).
What I would---will do (as I have 2 that slid straight through stops) is treat any NEW trade on its *own* merits.
Have some shorts as well.(2)---not enough!
There will be opportunity for most but you'll need your wits about you.


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## tronic72 (22 January 2008)

I sold all my positions but my losses weren't too great. (10K since November). I 'm really glad to be out of the Market as I think this is only the beginning. The US, ASIAN & EUROPEAN markets have really only just started their decline.

In some ways I think we are very lucky, because our Market seems to have been the first to receive a severe flogging. When the rest of the world starts to follow we may see massive losses unlike anything we've seen before.

Until recently I've been one of those saying "the fundamentals are still good". I still believe that but I've become sceptical of the market and think it's confidence is currently at an all time low which means prices will continue to tumble for some time yet.

I think we will be looking at a short term future where "cash is king" again and the days of cheap money are gone.



I currently don't have the balls to go short because the Market is so unpredictable. Good luck to those who do.


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## panikhide (22 January 2008)

I would hope that if you've held on for this long then you would continue to hold and ride it out. What I can't understand is that there would be people out there who voluntarily sell at this stage of the downturn.


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## Trembling Hand (22 January 2008)

Uncle Festivus said:


> The market can stay irrational longer than you can stay solvent (or words to that effect).




That's the one to remember. athough it was said about margin trading.


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## Bruza (22 January 2008)

Like most here I am holding, fairly new to it as well & didn't have stop losses in place, (figured to be in a year to feel around).

To add extreme pain, when I finally got onto ComSuc my portfolio showed I'd lost EVERYTHING!

It's got to be a glitch, got to be.


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## wildmanchris (22 January 2008)

So someone tell me if im right on this - im not that smart.

The NASDAQ closed friday at 2340 - and the future value as per bloomberg is 1781.  Does this mean the future is pointed to a far bit more downwards?


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## tronic72 (22 January 2008)

panikhide said:


> I would hope that if you've held on for this long then you would continue to hold and ride it out. What I can't understand is that there would be people out there who voluntarily sell at this stage of the downturn.




Hi Panikhide,

I've seen a lot of people with similar posts to yours so I thought I'd explain why.

I've been, "trading down". By that I mean, I've been selling when my profits or losses are small. Then buying back when the stocks have taken a dive. Then I sell again at a small profit or loss. By doing this, I keep my losses to a minimum and have actually been able to make a profit on some of my CFDs. 

The benefit of this is, instead of having held on and coped a loss of 50% I might only suffer a loss of 5% or even a small profit but Im still in the Market WHEN it turns around but at reduced price.


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## Trembling Hand (22 January 2008)

wildmanchris said:


> So someone tell me if im right on this - im not that smart.
> 
> The NASDAQ closed friday at 2340 - and the future value as per bloomberg is 1781.  Does this mean the future is pointed to a far bit more downwards?




No the Fut you are looking at are the NASDAQ 100 which is down 70 points. Not the NASDAQ COMP


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## wayneL (22 January 2008)

wildmanchris said:


> So someone tell me if im right on this - im not that smart.
> 
> The NASDAQ closed friday at 2340 - and the future value as per bloomberg is 1781.  Does this mean the future is pointed to a far bit more downwards?




They are two different indexes

The cash index quoted is the Nasdaq Composite, which is calculated on just about all Nasdaq stocks. The futures are on the Nasdaq 100, the top 100 NASDAQ stocks.

Compare NASDAQ COMP verses NASDAQ 100


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## Kimosabi (22 January 2008)

The writing has been on the wall for months.

I got out everything during the middle of last year and bought gold.

We are now in a credit contraction and this isn't going to end until all the easy credit puss is squeezed from the markets.

Aussie real estate will crash and burn in the next year or two when the easy credit puss is squeezed from that bubble.

This is going to get real nasty, real quick boys and girls, better hold onto your hats...


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## jtb (22 January 2008)

tech/a said:


> My take on what to do.
> 
> Look for volatility to calm down.
> 
> (as I have 2 that slid straight through stops)




Hey Tech, I feel your frustration -joys of being a shiftworker

Well I'm on my fourth 'Little Creatures' (yum) and am going to bed.

What doesn't kill you makes you stronger

See you guys on the flipside


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## Romano (22 January 2008)

Like most others here I am holding.  There would appear to be some absolute bargains there this morning, especially amongst the banks.  Just asking myself at what point should I buy in.  Their fundamentals are still excellent, so it would appear that they are oversold.  May be back in this arvo


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## wayneL (22 January 2008)

Bargains?

Heading into a recession, stocks still look effing expensive to me.


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## Nyden (22 January 2008)

wayneL said:


> Bargains?
> 
> Heading into a recession, stocks still look effing expensive to me.




Agreed. I no longer believe stocks to be undervalued, just re-valued to adjust for the fundamental changes happening to the world


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## nomore4s (22 January 2008)

wayneL said:


> Bargains?
> 
> Heading into a recession, stocks still look effing expensive to me.




I'm with you Wayne could be a whole lot cheaper in the next week or so.

Be waiting to see what the good ol' US of A does tonight before going "bargin" hunting


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## awg (22 January 2008)

As a mostly long term holder, who is only starting the journey to learning better trading, ( although I have cashed up from 8% to 30% over the last couple of weeks).

I cant sell via commsec at the moment anyway .

I think i need to look at some pr0n at the moment!


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## Nyden (22 January 2008)

awg said:


> As a mostly long term holder, who is only starting the journey to learning better trading, ( although I have cashed up from 8% to 30% over the last couple of weeks).
> 
> I cant sell via commsec at the moment anyway .
> 
> I think i need to look at some pr0n at the moment!




Too much information there, buddy.

I really didn't need to know what you get upto inbetween trades, just yuck :


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## treefrog (22 January 2008)

Romano said:


> Like most others here I am holding.  There would appear to be some absolute bargains there this morning, especially amongst the banks.  Just asking myself at what point should I buy in.  Their fundamentals are still excellent, so it would appear that they are oversold.  May be back in this arvo




the excellent fundamentals of stocks in such a market as this are seriously out of date
have you ever seen how many other stocks the banks (and others) own??
ever looked at the stock ann and seen the millions they hold and trade??
have you seen any of these pennies and small caps heading south lately??
no?? then it must be because they have dropped below the bottom of your PC screen and they are no longer visible
so when you look at their "latest fundamentals which are excellent" just how up to date are they - sorry they are not even up to date in a steady market...
and then their overseas investments - oh no!! - yes, in the US and, more or less, directly or indirectly in the property fiasco there


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## skating101 (22 January 2008)

awg said:


> As a mostly long term holder, who is only starting the journey to learning better trading, ( although I have cashed up from 8% to 30% over the last couple of weeks).
> 
> I cant sell via commsec at the moment anyway .
> 
> I think i need to look at some pr0n at the moment!




i lol'ed, these isnt going to be a recession in Australia though and as long as your investments have no or limited exposure to the credit crisis you should be in a relatively good long term position, tell me if im wrong


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## SM Junkie (22 January 2008)

I must admit I'm a bit excited about the bargains I can pick up.  Just sitting back and waiting for a good buy time.  I've not sold anything and I don't need to panic, I won't let fear nor greed detrail my long term strategy.  I'm really happy with the fundamentals of the companies I've invested in and just see the current crisis an an opportunity to increase my stake.  

I saw a documentary about previous stock market crashes and what the big investors like Buffett did, guess what they didn't panic and just held, the market has always bounced back.


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## gordon2007 (22 January 2008)

That's about all I can do  at the moment is just hold'm. I'm not depressed or anything like that. Sure I'd like to be buying more at the moment but most of my $$$ is actually in the market already so in order to buy more I'd have to sell at a loss. I think just sitting back and practicing patience and learning more will be the best route at the moment. 



agro said:


> yeah very good learning experience imo
> 
> i am holding to be honest - fundamentals of companies haven't changed just the value
> 
> ...


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## wayneL (22 January 2008)

skating101 said:


> i lol'ed, there isnt going to be a recession in Australia



 I LOLed in turn.


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## skating101 (22 January 2008)

treefrog said:


> the excellent fundamentals of stocks in such a market as this are seriously out of date
> have you ever seen how many other stocks the banks (and others) own??
> ever looked at the stock ann and seen the millions they hold and trade??
> have you seen any of these pennies and small caps heading south lately??
> ...




how about those of us that are invested in commodities


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## Nyden (22 January 2008)

skating101 said:


> how about those of us that are invested in commodities




Commodity stocks in general may have been overvalued for a while - as a result of a very hot sector. Now that it's revealed that the stellar *growth* may not continue, the prices have to come down.


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## Frank D (22 January 2008)

Markets will bounce shortly in the US, it will stabilise and move into a distribution pattern for a number of months,, before a 2nd wave of selling in  the 2nd half of the year into lower lows, and probably hit lower lows in 2009....

I personally wouldn't trade any margin positions on stocks for the long term, if you've got cash and think a stock is undervalued and BUY it, don't expect much upside for a couple of years, especially on any bounce.....

These sell patterns were going to play out this year, but sometimes downtrends move much quicker than expected..

if looking to short trade stocks I'd wait until markets consolidate and trading around their 3-month highs, so the timing of the 'short's align once again with Quarterly timeframes...

I personally don't short trade stocks, prefer index futures and forex.....

Just my view over the long term....


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## cordelia (22 January 2008)

Romano said:


> Like most others here I am holding.  There would appear to be some absolute bargains there this morning, especially amongst the banks.  Just asking myself at what point should I buy in.  Their fundamentals are still excellent, so it would appear that they are oversold.  May be back in this arvo




mmmmm...anything could happen overnight. Only an over zealous optomistic soothsayer would buy in this afternoon and hold overnight....


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## doctorj (22 January 2008)

The risk is that the credit crisis is finding it's way into the 'real economy' (geeez I hate that expression).  The fall out of declining US house prices is being worn by the banks that underwrote it.  Falling house prices will some point be felt by retailers with falling consumer confidence/spending.  The you have the resulting decline in commercial property hitting the balance sheets of non-banks and reduced demand hitting manufacturers.

Last I looked the Bond markets are pricing in something like a 30-40% chance of a 75bp cut by the fed at the end of the month!
Maybe that will work, maybe it won't, but my worry is twofold -  if bond markets are expecting that degree of cutting, how bad is it really and will it really have any impact (if essentially it's already being priced in) and secondly that the fed can only cut rates down so far - would they be better off keeping some of their powder dry so to speak?

I suspect that right now the economists at the fed are withing they had tightened rates further in the last couple of the years to give them more ammo now.  Right now they're busy fighting a war on two fronts - inflation on one side and weak growth or recession on the other.  Rather them than me, but I tell you one thing, it'll make an interesting study once all this plays out.

I know this is a fairly rambling post, but I want to leave with one more thought.  I personally put the 'chicken little' bears calling for the end of (financial) days in the same boat as the blind bulls crying for stronger for longer.  The economic cycle has held true so far and I don't see this time being any different.


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## Trader Paul (22 January 2008)

..... and it's not over yet, folks,

Just have a look at your XJO chart since 09-10122007, then go to the
link, below:

https://www.aussiestockforums.com/forums/showthread.php?p=248617#post248617

FWIW ... we expect some more nasty financial issues to surface this week,
probably around 23-24012008 ... 


have a great day

  paul



=====


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## rub92me (22 January 2008)

Would be interesting to see if anyone has done any analysis of the trading volume in this shakedown. Looking at the more speculative end of town, although we're seeing spectacular drops, I'm not seeing major volumes to go with it (no buyers, reluctant sellers). That may change if we get another big red tomorrow though, which could cause the real capitulation of the 'penny dreadfuls'.


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## bigt (22 January 2008)

Yes, kind of jacks me off to see my paper profits disappear by small fry selling 500 shares at 50c. To see my portfolio drop 20% on less volume than one decent, "normal" sized trade is disheartening, though at least the low volume is a minor positive. I have to keep re-enforcing the "bought for 12 months, bought for 12 months" plan... I'm confident she'll pull back, though will take some time for the insanity to calm and confidence to return.


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## shaunm (22 January 2008)

I just couldn't take it any longer.  My stop losses have been gapped among other things.
The prospect of losing even more has led me to getting out. My tail is frimly between my legs and I'm sulking in the corner.
I guess I'll get back in when this all blows over (if). Besides I will have to find a way of recouping my losses. Sh*t!!!!
This is a painful learning experience for sure.


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## Snakey (22 January 2008)

Well Snakeys full to the neck of scared rats
now wheres that dead cat?


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## Poker (22 January 2008)

The American indices will tank tonight in reaction to the global rout and in turn the world will react to the fall in America and tank again tomorrow and the cycle will continue (in the short term). Keep shaking the heads


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## Snakey (22 January 2008)

Poker said:


> The American indices will tank tonight in reaction to the global rout and in turn the world will react to the fall in America and tank again tomorrow and the cycle will continue (in the short term). Keep shaking the heads



until all the prices are 0.00 ...Right???


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## Poker (22 January 2008)

Snakey said:


> until all the prices are 0.00 ...Right???




Of course  That is EXACTLY what i was getting to


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## chops_a_must (22 January 2008)

Snakey said:


> until all the prices are 0.00 ...Right???




ROFL.

I'm starting tothink we might get a better day tomorrow. Anyone wanting to... apart from needing to... will probably have sold today. 

Do I think this will reverse sharply and be anymore than temporary? Nup. Am I game to go long? Nup.


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## Nyden (22 January 2008)

chops_a_must said:


> ROFL.
> 
> I'm starting tothink we might get a better day tomorrow. Anyone wanting to... apart from needing to... will probably have sold today.
> 
> Do I think this will reverse sharply and be anymore than temporary? Nup. Am I game to go long? Nup.




It *all* depends on what the US does. If *all* the fearful sold out today, we would have seen far greater losses. If the US gives us red, little alone *heavy* red tonight, tomorrow will be a massacre, and as will the remainder of the week.

Who has the guts to hold in this market over a 3 day weekend? I doubt many.
& If the US crumbles on Friday...heh, next Tuesday we'll plummet again.

I can finally enjoy my long weekend now  I can sit out in the sun, & not worry about losing money on Tuesday. Financially, emotionally, & psychologically; best move I made in getting out.


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## ironchef (22 January 2008)

I bought 2000 paladin shares yesterday at 5 bucks each. I'm just digging myself deeper and deeper in.

I remember I used to curse when I ended the day with just under a grand drop in my portfolio.... Right now, I'm in a daze.


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## MegaV (22 January 2008)

I wish i can turn back time to sell out of the market in july when the market was at its peak and buy in now.


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## Nyden (22 January 2008)

MegaV said:


> I wish i can turn back time to sell out of the market in july when the market was at its peak and buy in now.




Mega, don't think like that. Dwelling on the loss or even loss of profit will do you no good at all. In fact, it can hinder you. 

When you trade with the intent of 'getting losses back', subconsciously you tend to take more risks, & act more irrationally. Which obviously isn't a good thing


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## tronic72 (22 January 2008)

Nyden: If all the fearful sold out today, we would have seen far greater losses. If the US gives us red, little alone red tonight, tomorrow will be a massacre, and as will the remainder of the week.


I've seen a few people mention this sort of thing and it makes no sense. 

For every buyer who sells, there's another who's bought in.Up until recently I was one of those buyer. If those new buyers are still getting pounded then they will continue to sell. I can't see any short term good news that will stop that cycle happening in the short term.

For the record I agree that this current selling is overkill but the Market has been expecting this for a long time now and I predict it will take on a life of it's own once it starts. The US will take Europe's lead and the rest of the world will take their lead and so on. There simply won't be any good news to come from companies in the short term and anything the US government does will be too little, too late.

On the plus side I think once the dust settles, anyone with some cash will be able to get a lot more their money. The 200K I currently have will get me $600 K worth of stock (compared to pre November 07).


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## habs (22 January 2008)

i wonder how many directors will be buying in this downtrend over the next couple of weeks


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## MichaelWhyte (22 January 2008)

tronic72 said:


> On the plus side I think once the dust settles, anyone with some cash will be able to get a lot more their money. The 200K I currently have will get me $600 K worth of stock (compared to pre November 07).



That's my thinking too.  I bit the bullet and sold the lot today and crystalised a loss of $120K odd.  But it still leaves me some $200K spare in the LOC after the margin loan is paid down and the equity freed.  My pride took a hammering, but it seems fundamentals don't count for squat at the moment.  I'll wait until I see a solid change in direction and a new trend channel emerge on the upside then buy back in.  I don't even care if I have to wait until prices are above my exit price.  At least I'll be sure of direction and should recover that loss in the ensuing bull when the dust EVENTUALLY settles.

Hell of an expensive education though! 

Cheers,
Michael.


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## treefrog (22 January 2008)

tronic72 said:


> Nyden: If all the fearful sold out today, we would have seen far greater losses. If the US gives us red, little alone red tonight, tomorrow will be a massacre, and as will the remainder of the week.
> 
> 
> I've seen a few people mention this sort of thing and it makes no sense.
> ...




had  to chortle when george ww announced 1% GDP tax rebates so US can buy/spend its way out of recession.

now if the stock market is in freefall and just half your brain is working, you have overmaxed your house and card credit and the media is fuelling the flames with freefall hype, are you going to:
a) spend your big tax break and help out 'ol uncle sam
b) pay off some debt
c) stuff it under the mattress in cash or gold


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## shaunnell (22 January 2008)

MichaelWhyte said:


> That's my thinking too.  I bit the bullet and sold the lot today and crystalised a loss of $120K odd.




Holy cow.  Sorry to hear that.

btw you better change your signature


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## sideshowbob (22 January 2008)

Well early last week I posted a new thread about what I should do. 
I made the decision to get out on that Tuesday when my stocks (BNB and BHP) were in the positive. That was the best decision I have made thus far. 

But looking at the market now... BNB has dropped  30% more since that Tuesday. 

Its too late to get out now. I think its time to hold on and just wait for this to blow over. If you are in it for the long run... it would be disastrous to get out now.


Im not buying back in until someone tells me that the American credit crisis is over... 

My concern is with the people that keep topping up.... now that is a bad strategy right about now.


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## agro (22 January 2008)

cheer up everyone

dow futures +61 so if thats anything to go by we are in for the first green day tommorow and what might be a rally..

i am remaining bullish regardless of the 20% slump... going by history after every major correction the resilience of the market has seen an increase in sp..

more bang for your buck at the moment

sit put if u r on a paper loss.. remember u only make a profit (or loss) if u sell


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## Nyden (22 January 2008)

sideshowbob said:


> Well early last week I posted a new thread about what I should do.
> I made the decision to get out on that Tuesday when my stocks (BNB and BHP) were in the positive. That was the best decision I have made thus far.
> 
> But looking at the market now... BNB has dropped  30% more since that Tuesday.
> ...




Not too true sideshow. Things could get much worse, surely one would be kicking themselves for not taking the 30% drop, as opposed to say, a 60% drop :

Things could get better though, but ; I would personally want the loss / the knowledge of no *further* losses, and the comfort of a good night sleep!


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## Trembling Hand (22 January 2008)

agro said:


> cheer up everyone
> 
> dow futures +61 so if thats anything to go by we are in for the first green day tommorow and what might be a rally..
> 
> ...




Where you getting that from.

Dow Futs down 475 from Friday close. You wanna have another look???


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## agro (22 January 2008)

trembling Hand said:


> Where you getting that from.
> 
> Dow Futs down 475 from Friday close. You wanna have another look???




http://money.cnn.com/data/premarket/

here u go mate

+71 now


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## Nyden (22 January 2008)

agro said:


> http://money.cnn.com/data/premarket/
> 
> here u go mate
> 
> +71 now




Ignore that.
http://www.bloomberg.com/markets/stocks/futures.html


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## Gar (22 January 2008)

agro said:


> http://money.cnn.com/data/premarket/
> 
> here u go mate
> 
> +71 now




sorry to say mate but the CNN one has been playing up lately, here is a better feed

http://www.bloomberg.com/markets/stocks/futures.html


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## Trembling Hand (22 January 2008)

agro said:


> http://money.cnn.com/data/premarket/
> 
> here u go mate
> 
> +71 now




Sorry dude you are wrong. That's from last nights Europe close.

the Dow finished @ 12099 on Friday.
The live fut are now at 11620. about -600 points from Fridays fare value.

I know Because I'm trading them live.


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## barnz2k (23 January 2008)

gordon2007 said:


> Just wondering, is there anyone else there like myself who really has no idea what to do right now. I've just been sitting back watching this massacre now for the past couple of weeks.
> 
> I'm down a good chunk of money but don't want to sell because I think it will all come back to value in time. I just sit here most days and barely even participate because I don't know what to do in a bear market. Hence I just sit here and shake my head and am left wondering.
> 
> So what are the others who are new to trading doing during this market?




Totally.
Shaking. Crying. Fetal. All of the above.. 

As others, just sitting, holding, and watching the crash scene. I need to just go traveling again so I dont watch the market for a few months and hope its begun to heal when i get back


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## Buffettology (23 January 2008)

gordon2007 said:


> Just wondering, is there anyone else there like myself who really has no idea what to do right now. I've just been sitting back watching this massacre now for the past couple of weeks.
> 
> I'm down a good chunk of money but don't want to sell because I think it will all come back to value in time. I just sit here most days and barely even participate because I don't know what to do in a bear market. Hence I just sit here and shake my head and am left wondering.
> 
> So what are the others who are new to trading doing during this market?





ha ha, Ive been in the market for 13 years and I am the same!  That rally of 300 points in a day has left me some hope!  Never seen something like that before from memory!  But sadly, this time it doesnt appear to be on its way!  Even with this emergency fed rate cut!  Fingers crossed now!  

Luckily I didnt involve myself in the dotcom crash and held cash.  Any company that would take a millenium to earn as much as its share price is obviously overvalued!  Dont have to be Buffett to tell that!


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## Buffettology (23 January 2008)

barnz2k said:


> Totally.
> Shaking. Crying. Fetal. All of the above..




Yeh, I know a guy who retires in 3 months and according to him, has to take his super out at the time for his pension.  Not sure how it works as Im not a Financial Planner or near retiree!

His down 80k and from what I hear, is throwing up up from stress!

Another woman I know of as I said in another thread, gave one of the big banks, wont state the name, 1.2 million to invest just a few days ago, its now worth $850,000k.  Woops!


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## barnz2k (23 January 2008)

Buffet: Wow, thats harsh. Both of them!

At least I'm young and can wait it out, people who have super etc to worry about feel sorry for em. Luckily my mum got hers last year just before things started turning - perfect timing really. (I should have followed haha)

10min till US open..all eyes...


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## Buffettology (23 January 2008)

barnz2k said:


> Buffet: Wow, thats harsh. Both of them!
> 
> At least I'm young and can wait it out, people who have super etc to worry about feel sorry for em. Luckily my mum got hers last year just before things started turning - perfect timing really. (I should have followed haha)
> 
> 10min till US open..all eyes...




Yeh, the forums are BUZZING for this time of night!

All eyes are definately on the US!  It will determine if a rally begins or this massacre continues!

Your mum got real lucky!  My brother bought in at the start of the bull market, bought property at the beginning of the property boom!  Now cashed it in to buy a successful company!  He has no higher education and limited understanding of the market yet is a multi-millionaire and only 28.  

I have multiple degrees, worked as and am qualified as an economist and stockbroker, have lived in the Finance World for 13 years and still WAYYYYYYYYYY behind him in terms of assets anyways!  Luck plays a big part, no doubt about that!  Good onto your mum and my brother I say!  For the rest of us, we need to be smart and cross our fingers and hope at the same time!


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