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How much RED for ASX 200 on Monday?

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nizar

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Im calling another 80pt shocker like last thursday, lost a bundle that day

DOW down by another 1% (thats like 250pts in the last 2 trading days)
Zinc makes its first big move in weeks, then goes back down and geez all that negative press about copper, some guy quoted in daily telegraph as saying it go down by $1,000/tonne anyday now cant be good for the price...
And Gold, easing off a bit..

I hope every1s got cash in the bank to stock up, coz we will see alot of red on monday

Thoughts?
 
Re: How much RED for asx200 on Monday?

nizar said:
Im calling another 80pt shocker like last thursday, lost a bundle that day

DOW down by another 1% (thats like 250pts in the last 2 trading days)
Zinc makes its first big move in weeks, then goes back down and geez all that negative press about copper, some guy quoted in daily telegraph as saying it go down by $1,000/tonne anyday now cant be good for the price...
And Gold, easing off a bit..

I hope every1s got cash in the bank to stock up, coz we will see alot of red on monday

Thoughts?
Click to expand...

If you are in for the medium term, then the trend is positively up still, so not a concern.In answer to your question though, yes it will all be a red on Monday (apart from FAR):)

I always get stung heavily with my CFD'S on big down days, sometimes getting stopped out, but that is my method obviously being incorrect rather than the market being bearish.

We can't complain though this is a very strong, bullish market.
 
Re: How much RED for asx200 on Monday?

Porper said:
We can't complain though this is a very strong, bullish market.
Click to expand...

It certainly is. I think people have forgotten what a real correction is. We could have a 500 pt fall in the ASX200 and STILL be in a bull market.

But I think there is still some validity in Radges call of a top here. (But I would think that, being an überbear :D )
 

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Re: How much RED for asx200 on Monday?

nizar said:
Im calling another 80pt shocker like last thursday, lost a bundle that day
I hope every1s got cash in the bank to stock up, coz we will see alot of red on monday
Thoughts?
Click to expand...
Hope you are right nizar.
I have a few buy orders that I amended down a notch today, so if they come in, they will be bargains (unless the down trend stretches out!).
Having watched the commodities last week go virtually nowhere despite some incredible price rises, I would be surprised if our markets tumble as badly as those overseas.
Apart from Friday's damage to stock markets, the same cannot be said of the factors underpinning base metal prices. Nickel, copper and zinc are continuing to disappear from exchange warehouses, while energy costs are impacting aluminium: Lead is in good supply, but hardly makes a difference to the base metals' tone.
Silver had an intraday peak over $15 before a big selldown knocked a dollar off, while gold ran almost to $730 before losing about $20 as profit takers ended the week with fat wallets.
My reading of markets suggest that whatever is lost short term, will almost certainly be added back medium term.
If the carnage settles in again on Monday night, I will ratchet down my bids again. A few hundred points off the allords now will shake out the market and put it on a more sustainable path into the second half: At least then we will have some profit guidance rather than speculation to guide us.
 
Re: How much RED for ASX200 on Monday?

As me olde mate in LSE use to say whilst enjoying a swift pint "cash is KING".
Love these corrections!!!!
 
Re: How much RED for ASX200 on Monday?

Ok,but why are the banks being caned,
you`d think they are a safety haven for a correction day! :swear:
 
Re: How much RED for ASX200 on Monday?

Plenty of big red numbers this morning in my portfolios, along with a couple of lonely greens :D

GP
 
Re: How much RED for ASX200 on Monday?

same here..

massive selling this morning.. only one of my stock is in green.

the market is probably too emotional this morning. im gonna wait for another hour and see how it goes.
 
Re: How much RED for ASX200 on Monday?

visual said:
Ok,but why are the banks being caned,
you`d think they are a safety haven for a correction day! :swear:
Click to expand...

ANZ is ex-div today, so at least they've got a reason to be down.
 
Re: How much RED for ASX200 on Monday?

Ok.Rod,that makes a little sense,however seeing that the div.is about 56 cents,whats the thinking behind the almost double drop.

I was expecting the market to fall seeing the ftse and the dow went bye bye friday,but am completely confused as to why all the banks are getting caned,where are people putting their money cant be in resources,they are the ones who got this started in the first place so where?

:eek:
 
Re: How much RED for ASX200 on Monday?

As Henry Ford said "you can have any colour you like as long as it's........"
Well red in my case.

Looks like the initial storms over, gold up 5.00, pulling LHG & OXR up a little.

What happens now? XJO minus 100.

Interesting times.
 
Re: How much RED for ASX200 on Monday?

Good morning everyone :)

For anyone wondering what might be 'fair' value for the market, attached is my spreadsheet that I use to calculate average PER's for various market indices.

For those that don't have Excel, below is a cropped screen dump of the spreadsheets summary charts.

I have updated the spreadsheet's data with share prices from earlier this morning from Commsec.

Hopefully the spreadsheet might help someone get a feel for what they think might be fair value overall.

cheers

bullmarket :)
 

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Re: How much RED for ASX200 on Monday?

Got into work to see that several of my stoplosses had executed...most of these stopped a loss rather than locked in a profit :(

Admittedly my stoplosses are usually pretty tight, but despite that I've bled badly today...
That said the cash previously locked up in stocks is now free (admittedly reduced from the last time I had it)...now to find a bargain!

:)
 
Re: How much RED for ASX200 on Monday?

Well, again, I don't think this is the start of some crazy crash. I think it is a huge over-reaction to what has happened to the dow jones late last week, everyone has had plenty of time to think about it over the weekend and now they panic and sell like maniacs.

I'm WISHING I sold up on Friday I could have bought back everything I own at a significant discount, instead I just used spare cash to buy more of everything in my portfolio (except JMS which held up well today).

So if I'm right I'm going to be very happy tomorrow!
 
Re: How much RED for ASX200 on Monday?

ctp630

Why not top up on the open of the next obvious up day.
Rather than try to guess when the slide will halt.

Both the DJIA and the ASX are simply reacting to government stratagies to slow inflation. To be expected.
 
Re: How much RED for ASX200 on Monday?

Remember amateurs open the market and the professionals close the market. I'd look at the trend from 3pm to see what the short term trend is going to be.

MIT
 
Re: How much RED for ASX200 on Monday?

Interesting that metal price across the board got to record high over the weekend . Still because of wall street going down heavily on Friday a lot of resources stocks are in the red at the moment.
My feeling is that this is a good buying opportunity rather than a lasting down trend. It is just my opinion so.
 
Re: How much RED for ASX200 on Monday?

Well ,it's not as bad as I thought it would be -yes do have red spot specials on my portfolio, of which ORICA is -81 ! but the rest is travelling ,if not cruising fine.
It would be interesting if this continues for 3+ days ,then I will wade into the market on a spending spree. I just wished we would have corrections more often!
I agree 1500 hrs or even 1530hrs this afternoon is a good time to sharpen the pencil,for some bargains!
 
Re: How much RED for ASX200 on Monday?

mit said:
Remember amateurs open the market and the professionals close the market. I'd look at the trend from 3pm to see what the short term trend is going to be.

MIT
Click to expand...

Have you any studies to back this.
Its my view that this is one of those bandied "trueisms"
that has no proven credibility.
There are many in this industry.

Unless you're a daytrader or very short term trader perfect timing generally has little influence on the end result.
Certainly selling into opening auctions is a great way to pick up a high or close to it for the day.
 

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