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Buying ASX Stocks on Friday in a Bear Market

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Garpal Gumnut

Ross Island Hotel
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2 January 2006
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While it is tempting to buy some stocks which appear to be at incredible discounts from one month ago, two things hold me back.

  • It is always difficult to catch falling knives.
  • The American market will not close until Saturday morning, (and it is very much overpriced). And we follow the US markets just on two days later.

gg
 
Without any indication of a bottom yet alone a reversal, hope isn't a logical reason to buy.

Even if it all reversed, the stocks will most like still be an "incredible discounts from one month ago" come Monday
 

Depends on your time horizon I guess and willingness to watch some short term paper losses, if you have a much longer term view. Agree with @aus_trader on the ETF option for longer term steady gain after the blood has stopped flowing. Just hard to see when that's going to happen. I'm not sure we've seen a proper dead cat yet.
 
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Got STW for the Lovely lady yesterday. She wanted it a month ago so so glad we waited. Long term investment and don't want to look at it again for a while.

Second of my low balls was TYR that I was gonna get @ $0.9.

US markets hit bear territory before we started following suit.
 
I hold some WGX as well for Gold miner exposure, which was purchased a while back. Down on the initial purchase but I plan to hold with a longer term horizon. But had a nice day today against the broader market selloff...



Also bought a few VAS ETF because I don't know when this bear market will bottom ?
 
missed my target prices today , but some only by a couple of cents

i am thinking Monday and Tuesday will be troubled by uncertainty

good luck
 
1. Riding a high speed motorbike without a helmet
2. Swimming in uncharted river networks in the Northern Territory
3. Starting your backpacking trip in Wuhan in Dec 2019

These activities are all similar to buying shares on the ASX on a Friday during a bear market
 
you didn't have to go to Wuhan , it had already spread , and yes i did TRY to buy some stocks on Friday

by the way it is riding the motorcycle ( or bicycle ) AT high speed that is dangerous , but it is the sudden stop at the end that kills
 
Italy in October 2019 would have been worse than Wuhan. The Covid one would have contracted wouldn’t be recognised and the hospital would have said ‘it’s just a bad cold’. ?
 
Usually I'm a little animated at 3.42 pm of a Friday but frankly the XAO is boring as batsh*t atm.

Roll on next week.

gg
 
Garpal Gumnut said:
Usually I'm a little animated at 3.42 pm of a Friday but frankly the XAO is boring as batsh*t atm.
Click to expand...
Boring is good! I love boring markets, a percent here, a percent there ... they all add up.

If you want action, then the next reporting season is just around the corner. Rest up now while you have the chance, because it will be a doozie.

KH
 
more than this time in 2020 a fair chance , more than this time last year , i am not so sure about that , am still seeing/hearing staff shortages ( either days off sick , or just can't find the right skill-set )
 
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