Close under 4000 today?

[GreatPig]

It's sitting in the low 4000s as I write, according to the NAB site. Will it close under 4000 or perhaps recover a little at closing?

I'm guessing it might just manage to close on or above 4000.

Cheers,
GP

:bricks1:

 

[Jay-684]

currently at 3993, not looking good

what are peoples opinions of where the market will go now? Level out, rise or fall like a stone?

Also, how have people gone the last few days? I've lost around 3.5% the last 2 days

thinking of selling a fair chunk of stocks sometime soon. Hopefully the market will go up tomorrow

 

[GreatPig]

Looking at the XAO chart, with another line down to below 4000 today, it looks to me like it might still have a way to go.

If it does keep falling, I'm wondering if it will halt at the longer term trend line just above 3800 or keep going.

Cheers,
GP

 

[TjamesX]

I don't know a lot about technicals, but it really didn't seem to put up much of a fight for 4000 , so i suppose that may be a bad sign.

Fundamentally speaking for Aus, I don't think this is it. The boom we've seen hasn't been built on speculation, it has been built on profits - and I don't think they will change just yet. BUT the overriding factor is the US, if its market tanks - there's not much anyone can do, Aus will go as well.

I am definitly at a turning point with regards to my holdings, I currently have about 45% shares and 55% cash after selling a lot a couple of weeks ago, the shares that I do hold are pretty defensive (bar one). I am questioning whether to sell the lot and wait, if this is it and we are lead down by the US, I think it will take a while to play out.

can i borrow someones crystal ball???

TJ

 

[The Barbarian Investor]

Hi TJ..

What do you consider a defensive stock

 

[WaySolid]

Well you can always short the SPI if you want to hedge.

 

[clowboy]

Waysolid,

I was reading up on that in this months Shares Mag,

Anychance you can elabirate on shorting the SPI.

Ie how one would go about doing so.

Thanks

 

[TjamesX]

Hi TJ..

What do you consider a defensive stock

Well I hold shares in a couple of LIC's which don't tend to take such a dive because currently they are both trading below their NTA. I think my ARG shares were actually up a few cents at some point during Friday when the rest of the market was falling pretty bad. They tend to be a lot less volatile - so you don't see the big rises/falls, but in the long term if the market keeps going then nothing can help them either - that is why selling out of all could be on the cards.

TJ

 

[WaySolid]

Waysolid,

I was reading up on that in this months Shares Mag,

Anychance you can elabirate on shorting the SPI.

Ie how one would go about doing so.

Thanks

The method I was thinking of was to sell SPI contracts (1 point = $25), you can do this through a futures broker. Perhaps there are better methods depending on your individual situation however.

 

[Wysiwyg]

Interesting to note some opinions from back at the start of the run up in 2004.

currently at 3993, not looking good, what are peoples opinions of where the market will go now? Level out, rise or fall like a stone?

Also, how have people gone the last few days? I've lost around 3.5% the last 2 days

thinking of selling a fair chunk of stocks sometime soon. Hopefully the market will go up tomorrow.

I am definitly at a turning point with regards to my holdings, I currently have about 45% shares and 55% cash after selling a lot a couple of weeks ago, the shares that I do hold are pretty defensive (bar one). I am questioning whether to sell the lot and wait, if this is it and we are lead down by the US, I think it will take a while to play out.

can i borrow someones crystal ball???

I was reading up on that in this months Shares Mag,

Anychance you can elabirate on shorting the SPI.

Ie how one would go about doing so.

Crystal balls are on loan at 25% per annum.

 

[numbercruncher]

Good-morning Campers

 

[Starcraftmazter]

Just wanted to point out how well gold stocks are doing today

 

[jank]

Gold is just a hedge, nothing else.