Australian (ASX) Stock Market Forum

I cannot believe the market slumped post bailout!

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Rastan said:
Since we just seem to follow the DOW like an eyeless mule the question is whether or not fridays slide will continue tonight or will the US pick up a bit... (or in other words cut my losses or wait and see and lose some more)

I find it strange that the US is in such a sh*t state and when the Dow goes down 1% we go down 2% (all last week most of my holdings seem to do that) when our economy and lending are stronger than the US. I know we are dependant on them (like everyone else) but _that_ dependant.. oh well...
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forget the dow - we r gone either way

cash is king
 
agro said:
anyone buying now will absolutely rake it in
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might take a punt and go long about an hour or so before market closes and hold overnight....
AU market has not factored in the interest rate cut tomorrow...
also... US could pull off a surprise rate cut tonight or soonish...

Might be a good op to pocket some points and get short again a little higher up
:2twocents
 
korrupt_1 said:
might take a punt and go long about an hour or so before market closes and hold overnight....
AU market has not factored in the interest rate cut tomorrow...
also... US could pull off a surprise rate cut tonight or soonish...

Might be a good op to pocket some points and get short again a little higher up
:2twocents
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when you mean short - you must mean 1 day cause that is what ever happens.

goes up couple hundred then next day retreats a couple of hundred
 
korrupt_1 said:
might take a punt and go long about an hour or so before market closes and hold overnight....
AU market has not factored in the interest rate cut tomorrow...
also... US could pull off a surprise rate cut tonight or soonish...

Might be a good op to pocket some points and get short again a little higher up
:2twocents
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Of course it's factored in. Everyone and their dog has already assumed a 50 bp cut. Just look at the AUD ...
 
Macquack said:
It suprises me that nothing much is said about Hank Paulson (Treasury Secretary) being worth $700 million.

What other industry could a shmuck like that earn that much money?
Answer- None, only the finance industry.

Paulsons rescue package is really saying " We have milked the system dry (thank you), please give us some more cash, so we can do it again (thanks again and goodbye)" [actually bad buy].

Wake up America, the perpetrators are under your nose.
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If things get as bad as they seem like they may, he will need to find somewhere else to live, so many people will go to the wall, but they will still own their 45's!..when the full story comes out, they will most certainly be looking for someone to blame
 
Events rarely drive the market. Social mood drives it In a bull market, good news is good news and bad news is good news - the market rises.

In a bear market, social mood is negative, so bad news is bad news and good news is bad news. Hence many people cannot understand why the market drops when fundamentals are positive.

I remember reading a very good article by elliott wave international that demonstrated this. In the early 70's there was 10 quarters of consecutive growth, yet the DJI index declined over that same period, before breaking out to the upside - very unexpected market actions based on fundamentals.

Expect the overall market conditions to get aggressively worse in the coming months.

btw: $800B is a drop in the ocean.
 
OzWaveGuy said:
Events rarely drive the market. Social mood drives it In a bull market, good news is good news and bad news is good news - the market rises.

In a bear market, social mood is negative, so bad news is bad news and good news is bad news. Hence many people cannot understand why the market drops when fundamentals are positive.

I remember reading a very good article by elliott wave international that demonstrated this. In the early 70's there was 10 quarters of consecutive growth, yet the DJI index declined over that same period, before breaking out to the upside - very unexpected market actions based on fundamentals.

Expect the overall market conditions to get aggressively worse in the coming months.

btw: $800B is a drop in the ocean.
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I dont think it's social mood or panic the fact is that all of these companies will be worth less and have less profit so their shares are worth less, just exactly how much less is the question, only time will tell as all the facts aren't on the table yet.
 
Struzball said:
That being the case, why does the USD keep rising against the AUD?
I would have imagined if you create $1T the rest of the USD pool is worth $1T less.
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Along with the withdrawal of money, our central bank has taken a reverse peg against the USD. :rolleyes:

So as the USD becomes worthless, so does the AUD. Criminal in my eyes. Absolutely ****ing stupid.
OzWaveGuy said:
Events rarely drive the market. Social mood drives it In a bull market, good news is good news and bad news is good news - the market rises.

In a bear market, social mood is negative, so bad news is bad news and good news is bad news. Hence many people cannot understand why the market drops when fundamentals are positive.

I remember reading a very good article by elliott wave international that demonstrated this. In the early 70's there was 10 quarters of consecutive growth, yet the DJI index declined over that same period, before breaking out to the upside - very unexpected market actions based on fundamentals.

Expect the overall market conditions to get aggressively worse in the coming months.
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Yes, because good news is bad news, and bad news is good news indefinitely forever and a day. Isn't that right WP?
 
MrBurns said:
I dont think it's social mood or panic the fact is that all of these companies will be worth less and have less profit so their shares are worth less, just exactly how much less is the question, only time will tell as all the facts aren't on the table yet.
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Right, but it is the people that ultimately drive the market and determine how successful these companies are by purchasing their goods - if mood is down, people buy less, companies make less profit.
 
OzWaveGuy said:
Right, but it is the people that ultimately drive the market and determine how successful these companies are by purchasing their goods - if mood is down, people buy less, companies make less profit.
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The success of the company also depends on if finance is available to run it and also to finance it's customers.
When that dries up it all collapses.
 
korrupt_1 said:
might take a punt and go long about an hour or so before market closes and hold overnight....
AU market has not factored in the interest rate cut tomorrow...
also... US could pull off a surprise rate cut tonight or soonish...

Might be a good op to pocket some points and get short again a little higher up
:2twocents
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OUCH!!!!... not doing that again.... :eek:
 
And just to rub salt into the wound (assuming you already exited), XJO up 85 points now.

GP
 
GreatPig said:
And just to rub salt into the wound (assuming you already exited), XJO up 85 points now.

GP
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yeh... got stopped out... lost 40pts... but.. eh... 'cost of business' ;)

theory was good... to go long on the speculation of rate cut based rally... but timing and entry really sucked...

who knew that the DJ was gonna tank 800pts over night then recover more than half of it??!!! blah... it's all bull$hit...

anyway... i caught the ride up this morning and have more than made up for the loss overnight... so in the end it worked out ok....

just need to perfect the entry timing... ;)
 
Don't know which thread to post this, but here we go. The "New" Stock Market Terms from Big Picture.

A fun email circulating trading desks, worthwhile as an informal measure of sentiment:
CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW -- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

​
 
The only way we will get close to a Profit is in some Muslim country!!!
 
Having just seen the riots in Thailand, they known how to get a message across, they may not win but boy are they out there. Wonder when the USA residents will begin to turn on the these idiots at the Fed and Captiol Hill.
 
That email's spot on, though I didn't get to sell any Yahoo shares for $240, though maybe some got to sell some Fannie for $80.

Might need to pray like MC Hammer or even some laying of hands.

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I saw those riot guys and I thought, now is not the time to mix the non-exploding tear gas up. About time they kicked that non-elected PAD riff raff off the street.
 
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