Is it Donga or Drongo?
Show some respect to the creator of this thread (Uncle Festivus).
If you read the whole thread (instead of just mouthing off) you would know that Uncle Festivus has already got it right once (Global Financial Crisis) and is now going for his quinella.
But really my friend, you came onto this thread knocking a poster who would have made you multiple double-triple digit returns had you followed his advice starting from almost three years ago. I'm a little pessimistic myself, so I'm quite happy to sleep in the bed I made.
Thanks Explod I'll take a look though note my play fund which has doubled in value over past few months now represents around 15% of our investments and my day job more than caters for my short and long term needs. I have no intention of living off the XAO.
I have enough ION for my industry, global understanding having lived abroad extensively and investments, but doesn't mean I can't learn more.
Still not seeing any quantified predictions from the bears, but getting used to that and the high degree of SMUGNESS around given the low level of guidance other than how bad the global economy is. Hope our man Panzer did well with his book and tend to place a little more respect with the likes of our top economists in Canberra and industry who don't write books for a living.
We'll saunter down to Manly again after the rugby and hope one of our teams can get up tonight.
Whoa, have I stumbled into cult territory "don't challenge the master" type stuff. No intention of taking out the man, just the sentiments. Have noticed people here ask a lot of quesions but don't like answering them. Never mind, still some interesting posts.
Don't pretend to be a master in economics or finer details of share trading, however have been around the block a few times and not done too badly.
o Fact is over the long term indices rise because global economy keeps expanding. How efficient and how fair is what we like discussing with mates and on ASF threads.
o If you're going to buy and sell whenever you think market is heading for a major correction or rise, you wanna be pretty damn good cos it does rise over time so you're swimming against the tide when you sell. Then there is the timing of re-entry.
o So applying this to GFC - I held all the way down, so yes Macquack or is it Goose, I didn't bail out when Uncle F rang the bell in April 2007 when the XAO was around 5700, nor did I sell when it hit the floor finally at 3100 in early 2008.
o Market is now 4500-4700 and I'm back in the black, over the high achieved when XAO achieved 6700 in late 2007.
o Could not have done this if I'd been out of the market when it reached 3800 and the Imminent & Severe cult started to call the end of the world again. This period has been terrific for selective oversold small/mid cap miners, and many have a way to go yet in outperforming XAO mid term IMO.
If you look back at posts in August you'll see my predictions and still stick by them, 5000 by Christmas with a few minor corrections along the way.
I'm not been an active trader except for last few months, so respect the folk that do this for a living and appreciate you play a more complicated game than me. Just not convinced that selling off the portfolio and trying to time the re-entry is a good strategy and sounds like a poor option to LT or daily trading. Expect most of you do both so perhaps you're not really selling off your entire share holdings?
And thanks GL, had a good night with my bird - beer and ciggies were most enjoyable and will probably imbibe again after my run this arvo
That's a pretty outlandish statement Donga.
I don't see how you can accuse anyone of cult-like behaviour for posting their own opinion or views on the future of the global economy whether they are bullish or bearish. I just tend to disagree with a lot of the Bulls with regard to this matter.
4000.Feeling somewhat vindicated after my August intrusions, let's see where we are in another two months time.
This is getting a little silly.
1. Posting information and oinions is what ASF is all about.
To his credit, Uncle F. has said that the 'imminent' part of the title is probably past its use-by date (post #4501), a point his followers haven't caught onto yet, or have chosen to disregard.
Uncle Festivus/Guru, where do I sign up?LOL- 'Look into my eyes, you are feeling sleeeeeeeepy'
That cracked me up! If you 'follow' me you can get chicks like this - me with one of my 'followers'
LOL- 'Look into my eyes, you are feeling sleeeeeeeepy'
That cracked me up! If you 'follow' me you can get chicks like this - me with one of my 'followers'
I am so there. Getting fitted for the orange robe as we speak!
I held all the way down, so yes Macquack or is it Goose, I didn't bail out when Uncle F rang the bell in April 2007 when the XAO was around 5700, nor did I sell when it hit the floor finally at 3100 in early 2008.
After dramatic falls in mining stocks in Europe and America on Friday, expect falls of up to 15% on Monday on the ASX, including major stocks.
But, wouldn't you have been better to sell and then re-enter at a much lower point? Nobody knew how low it was going to go, but for experienced traders (not saying i was one back then), the signs must have been there.
Imagine how in the black you'd be nowAnyway, well done for not wigging out if you had faith in your shares.
Plenty catch falling knives.Tell you what, if it really tanks tomorrow I think I might be buying.
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