Black Friday

[Tysonboss1]

Well the media is calling today Black friday,

I think that this week has been one of the worst weeks I have ever seen, how much lower does the market have to go before even the biggest bears start to buy in.

I mean surly prices of some of these companies are almost at once in a life time prices.

I fell into the Bull trap a couple of months ago so am feeling the pain now, But at these prices the little voice inside is telling me to pour more money in, But once bitten twice shy.

What are your thoughts,... is there any comparisons to crashes of the past,... when do people thin there will be a turn around.

 

[tech/a]

Tyson.

I'm the same.
Commodities getting smashed on the $
Banks---well.

FLX $8 give me a break.

I wrote elsewhere that in 1995 you could have bought positively geared property for a song and 10 yrs later your a very happy camper.

Its close really close and in 10 yrs time ---you'll be a really happy camper.

FLX $8 did I mention that!

When it turns it will be sharp and fast for bargain basement prices.
In my view stocks like FLX will fly to $12 ish flutter around but never re visit $8 again.
So you'll have to be on the ball.

So do you feel confident enough to put the cost of a house on it?
Real opportunity comes rarely in life.

 

[noident]

Take a look at http://en.wikipedia.org/wiki/Black_Thursday

They've already listed a couple of black thursdays this month.
Today was the black friday.
I say - wait till monday

 

[Kauri]

Tyson.

I'm the same.
Commodities getting smashed on the $
Banks---well.

FLX $8 give me a break.

I wrote elsewhere that in 1995 you could have bought positively geared property for a song and 10 yrs later your a very happy camper.

Its close really close and in 10 yrs time ---you'll be a really happy camper.

FLX $8 did I mention that!

When it turns it will be sharp and fast for bargain basement prices.
In my view stocks like FLX will fly to $12 ish flutter around but never re visit $8 again.
So you'll have to be on the ball.

So do you feel confident enough to put the cost of a house on it?
Real opportunity comes rarely in life.

or maybe nott...

Cheers
...........Kauri

 

[Wysiwyg]

Did not see the action until tonight so it was very very surprising BUT surely there are massive long opportunities, both short term and long term with the indices and the AUD.When is the answer.Look at the opportunities.

 

[Nyden]

Well the media is calling today Black friday,

I think that this week has been one of the worst weeks I have ever seen, how much lower does the market have to go before even the biggest bears start to buy in.

I mean surly prices of some of these companies are almost at once in a life time prices.

I fell into the Bull trap a couple of months ago so am feeling the pain now, But at these prices the little voice inside is telling me to pour more money in, But once bitten twice shy.

What are your thoughts,... is there any comparisons to crashes of the past,... when do people thin there will be a turn around.

This bear market / recession could last years. Why should I buy now? Why should anyone? Today's "bargain" could very well be next years target price ...

 

[doctorj]

Black Friday - no kidding.

Trading halted in Iceland, Austria, Indonesia, Russia, Romania, Ukraine & Thailand.

Rumour has it GWB is going to make an announcement later today that they're going to follow the lead of the UK and take a direct stake in the 7 largest US banks.

I sat next to Alistair Darling (UK Chancellor) on a flight to Edinburgh last Friday night and the poor chap was looking guant and ill. I can only imagine what he'll be like tonight.

 

[nunthewiser]

@ post 4

 

[Tysonboss1]

So do you feel confident enough to put the cost of a house on it?
Real opportunity comes rarely in life.

Well with some of my favourite companies so cheap I want to go all in, But all this doom and gloom talk combined with this weeks performance has taken it's toll on my cofidence and I am generally quite bullish as I do buy into companies for the long term.

I was thinking of sinking another $50K next week, But to think a repeat of this week could happen is a bit scary,... maybe I will do it anyway and just tune out for 6months.

 

[chops_a_must]

What are your thoughts,... is there any comparisons to crashes of the past,... when do people thin there will be a turn around.

Dividend paying staple and defensive areas, with options markets to earn income over them, is my thinking.

No hurry for most others. This will go on for years, so industrials and the rest can wait for mine.

 

[Kauri]

Black Friday - no kidding.

Trading halted in Iceland, Austria, Indonesia, Russia, Romania, Ukraine & Thailand. LIBOR up again.

Rumour has it GWB is going to make an announcement later today that they're going to follow the lead of the UK and take a direct stake in the 7 largest US banks.

I sat next to Alistair Darling (UK Chancellor) on a flight to Edinburgh last Friday night and the poor chap was looking guant and ill. I can only imagine what he'll be like tonight.

US officials are discussing temporarily backing all US bank deposits if
economic conditions continue to worsen, according to the WSJ. Writing in today"s Times, UK PM Gordon Brown has called on other government"s to follow Britain"s lead by supporting their struggling banks.

 

[doctorj]

George W is set to make an announcement at 1025 US Eastern Time...

 

[CanOz]

I sat next to Alistair Darling (UK Chancellor) on a flight to Edinburgh last Friday night and the poor chap was looking guant and ill. I can only imagine what he'll be like tonight.

Struth Doc, you flying biz class with aristocrats? What did you chat about?

Cheers,


CanOz

 

[doctorj]

Struth Doc, you flying biz class with aristocrats?

This is the credit crunch.... he was up the back with us common folk in a crumpled cheap suit

We only had a brief chat, the poor guy spent the whole flight working (we landed after 9pm!).

 

[pepperoni]

PEs have understandably fallen with risk aversion/credit issues and general uncertainty.

But more importantly in a recession many earnings will fall so why rush in and buy now???? At least wait to see how everybody trends in this half before you call a bargain .

Better still trade with the momentum instead of trying to bottom pick ... lost of people will have already lost their shirts bottom picking this half.

 

[CanOz]

This is the credit crunch.... he was up the back with us common folk in a crumpled cheap suit

We only had a brief chat, the poor guy spent the whole flight working (we landed after 9pm!).

Well good on him! What a champ. I can;t imagine the pressure these guys are under.

Cheers,


CanOz

 

[doctorj]

Well good on him! What a champ. I can;t imagine the pressure these guys are under.

The Dow down 21% in the last 7 sessions....

Arguably the Brits have done better handling this than the Yanks... How are things in China Canaus?

 

[YELNATS]

George W is set to make an announcement at 1025 US Eastern Time...

He might as well hold his tongue, he's been totally ineffective and unconvincing in all his pronunciations so far. In the true traditions of lame duck presidents.

 

[CanOz]

The Dow down 21% in the last 7 sessions....

Arguably the Brits have done better handling this than the Yanks... How are things in China Canaus?

Well the main index bottomed at 1800 a week or so ago. Since then its rallied and now looks like retesting very soon. We're watching ICBC, now one of the worlds largest banks, ready to step in soon....not sure how soon though.

Otherwise consumerism is alive and well, and car sales are still going strong. It takes me 30 minutes to get to work at 7 am....its only 23km! They're adding 300 cars per day in this city alone.

Business as usual....so far.

Cheers,


CanOz

 

[jbocker]

I don't think I heard much about the 10th anniversary of Black Friday. I was triggered by an discovery of an old paper cutting (attached) and noted the date was a 10 years ago in October, which in 2018 was a tumultuous month again. On the cutting a graphic of brokers tips.

The cutting was found in an old file in the process of packing up to move within the next few months.

I started to think do people look at the long term past when reviewing what worked and failed?