Big drop today

[DTM]

Coming off its lows now I think.
Was 73 now in high 60s

Out with the cheque book.

Look for a trading range of todays low and the high of the market to make your entries and exits (with enough margin for error.) in the next couple of weeks



Edited.

 

[tech/a]

Most read I've seen in a while.

 

[Fleeta]

Tech, what on earth is MUL doing on your list! I thought you were anti-MUL?

There isn't much without red ink today.

 

[tech/a]

Its there so I can watch how poorly it performs and gives me ample warning to post on the Mul thread.

PNO will get a birth soon the way its going.!!

 

[Yippyio]

IT's a BLOOD BATH !!!

:shoot: :bigun2:

 

[markrmau]

Not wanting to sound stupid

but part of the reason we are being pummeled is because of US interest rate fears. This would lead to hedge funds pulling back from resourses etc. The aussie economy is heavily dependent on mining, so we are up the creek.

The only problem is that metals seem to be doing fine.

http://www.kitcometals.com/charts/
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/commodities/11701/default.stm

 

[Kauri]

Does the cat have another bounce in it??? :goodnight

 

[wayneL]

Anyone contemplating the big C?

 

[Bronte]

Hehe!
Up the stairs....Out the window!

 

[wayneL]

US Index futures are ticking down atm.

Unusual for this hour.

Bears have got the bulls by the throat methinks.

 

[markrmau]

Am I reading the SPI futures right? Futures after close: 4429, with xjo closing at 4447

 

[TjamesX]

XAO is down around 4.6% from high in two days. Its a bit easier to watch it all with some cash on the sidelines but it's still a hairy ride.

Good to see you still there with the big C word WayneL

I'm not sure if this is 'it' or if there will be an 'it' - I'm looking for some value out there and have increased shares weighting from < 30% to almost 50% in the last two days. But i don't think I'll go too much past that in the current environment.

Still very bearish about local economy in general in the next 2 years. I think a lot of the hard questions will be asked with respect to supply side inflation (for all western economies). I think inflation is coming and there isn't much the RBA will be able to do about it - the question is will they try to do something about it any way??



out of interest;

http://www.smh.com.au/news/business...-into-a-shocker/2005/09/27/1127804477726.html

 

[krisbarry]

I couldn't stand another day with the sight of red arrows.

Took the rest of the day off and headed down to the beach with a mate and had fish n' chips on the foreshore. Awesome day!

At least the sea gulls had a feed.

 

[happytrader]

I thought stop losses were for times such as these. Are'nt they there to stop us rationalising, hoping, wishing and praying? Lets all get real and live in the moment! Lol.

Cheers
Happytrader

 

[dutchie]

What a great picture, Kris

Very calming. Can see myself sitting at a foreshore cafe drinking a cappo.

 

[RichKid]

Anyone contemplating the big C?

Hey Wayne,
Too early for it surely from a TA point of view? This is one strong bull run and it's survived many corrections, can't really crash til it goes through a couple of support levels, 4400 is the next moderate stopping point, we have the previous high from the last bit of drama early in the year to prop us up even further down.

All the closet bears are out now I'm sure. Suffered a bit of slippage with my stops but overall looking okay- losses are inevitable, easier to take when everyone else is feeling the hurt too in a way.

 

[wayneL]

Hey Wayne,
Too early for it surely from a TA point of view? This is one strong bull run and it's survived many corrections, can't really crash til it goes through a couple of support levels, 4400 is the next moderate stopping point, we have the previous high from the last bit of drama early in the year to prop us up even further down.

All the closet bears are out now I'm sure. Suffered a bit of slippage with my stops but overall looking okay- losses are inevitable, easier to take when everyone else is feeling the hurt too in a way.

Oh yes, way way too early to call a crash.

But the '87 crash did the same thing, just fell out of the sky...i'm just getting a bit carried away really. hehehe

 

[wayneL]

Oh yes, way way too early to call a crash.

But the '87 crash did the same thing, just fell out of the sky...i'm just getting a bit carried away really. hehehe

Here is the chart

 

[sam76]

That is NASTY.

 

[GreatPig]

Unless you're short...