Australian (ASX) Stock Market Forum

It was tough placing my buy orders this morning

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Value Collector said:
I made my biggest purchase in over 18months.

When the chicken littles are screaming that the sky is falling, thats the time I sharpen my pencil and start looking for things to buy.
Click to expand...
Do you mind sharing what you purchased? I'm curious to know given the success you've had in other positions :)
 
I find it strange that this virus which isn’t a death sentence is smashing markets with fear.
Perhaps 60% of the worlds population will contract it. Most wont even know! It will come and go without notice.

2600 have died of this virus.

Last year 59000 died of the flu.
Cancelling the Olympics?
Company fundamentals haven’t altered.
The cost of the flu happens every year.
It’s world wide every year.

Can someone explain this hysteria?
 
Morning ASFers, another day and another bunch of opportunities to be had (doing my best to keep a positive mindset).

My short term system generated another bunch of setups following yesterday's close. So this morning I've entered 4 new long positions so let's wait and see if they trigger. I'll provide an update if they trigger.

Changed my usual morning routine this morning to help me deal with the head F...k I was dealing with yesterday as a result of the nasty overnight activity and news. First thing I normally do in the morning is to checkout the overnight activity to see what's been going on. Well this morning I didn't do that so I have no idea what has been going on, which made it a little easier to place my orders without the voices in my head tell me I was an idiot to participate in such a crap market. Ignorance is bliss they say. Interestingly, I did find myself wrestling with a little over-confidence this morning after my trades yesterday. At one stage I was contemplating upping my trade size, but talked myself out of it and sticking with my usual tried and tested position sizes.
 
tech/a said:
I find it strange that this virus which isn’t a death sentence is smashing markets with fear.
Perhaps 60% of the worlds population will contract it. Most wont even know! It will come and go without notice.

2600 have died of this virus.

Last year 59000 died of the flu.
Cancelling the Olympics?
Company fundamentals haven’t altered.
The cost of the flu happens every year.
It’s world wide every year.

Can someone explain this hysteria?
Click to expand...

Isn't there a saying about never letting facts get in the way of a good story...maybe Murdoch and Co are heavily shorting the market :D
 
tech/a said:
I find it strange that this virus which isn’t a death sentence is smashing markets with fear.
Perhaps 60% of the worlds population will contract it. Most wont even know! It will come and go without notice.

2600 have died of this virus.

Last year 59000 died of the flu.
Cancelling the Olympics?
Company fundamentals haven’t altered.
The cost of the flu happens every year.
It’s world wide every year.

Can someone explain this hysteria?
Click to expand...
Sure , read the coronovirus thread on asf here
It is between 20 and 50 times more deadly than the flu you refer to, more contagious, and there is no vaccine whereas the flu has most at risk people vaccinated so your figures are based on immunised known treatment population.it is not being crazy to potentially have 10 millions people dead in 1or 2 years
It will not destroy the world but you would have statistical reason to be worry if above 65.
That is for the health side.if people think that China lost trillions of dollars just because they are scared of nothing, tell them they are dreaming.
Now share wise, what and who do we sell to?
Australia then Canada are the 2 most exposed countries to even a slow down in China and we will pay dearly.pure economics.
Feel free to buy the dip but do it after informing yourself would be my opinion.
i am sure the rba will slash rate and probably directly buy on the market but the aud exchange rate will be affected imho.
 
qldfrog said:
Sure , read the coronovirus thread on asf here
It is between 20 and 50 times more deadly than the flu you refer to, more contagious, and there is no vaccine whereas the flu has most at risk people vaccinated so your figures are based on immunised known treatment population.it is not being crazy to potentially have 10 millions people dead in 1or 2 years
It will not destroy the world but you would have statistical reason to be worry if above 65.
That is for the health side.if people think that China lost trillions of dollars just because they are scared of nothing, tell them they are dreaming.
Now share wise, what and who do we sell to?
Australia then Canada are the 2 most exposed countries to even a slow down in China and we will pay dearly.pure economics.
Feel free to buy the dip but do it after informing yourself would be my opinion.
i am sure the rba will slash rate and probably directly buy on the market but the aud exchange rate will be affected imho.
Click to expand...

so in 2 years approx 30 million will die of Stroke or Heart attack
That happens every year

not doing a great deal with the contagious lifestyle that causes these deaths!

think it’s an over reaction
Not the attempted control measures but perceived consequences

when a vaccine arrive it will just be another cold
 
tech/a said:
so in 2 years approx 30 million will die of Stroke or Heart attack
That happens every year

not doing a great deal with the contagious lifestyle that causes these deaths!

think it’s an over reaction
Not the attempted control measures but perceived consequences

when a vaccine arrive it will just be another cold
Click to expand...
To each his own learning and teaching, in the meaning lets see how Australia cope with a 25pc(3 mths) fall in export and import from its main business partner.
 
qldfrog said:
To each his own learning and teaching, in the meaning lets see how Australia cope with a 25pc(3 mths) fall in export and import from its main business partner.
Click to expand...

frog
I’m one of those
I’m waiting an steel
I’ve made alternate arrangements as have others in similar positions
I’m still hiring not laying anyone off and neither are those around me

I have 2 open positions
The opportunity just gets better
 
Of the 4 orders I placed this morning 1 has triggered: NWS. The other three orders are still pending. I'm still holding AVH from yesterday and that is still up on my entry yesterday.
 
While i disagree with @tech/a view on the importance of the shock ahead, i agree about opportunities coming in such market
If it is going to hit hard CCV should be green for example and a serious buy.
We all know the market is not rational, FFS the asx was going up last week while all the data and failure to control was available for every one to see.
I agree on selective buy opportunities, but would not touch an asx200 index etf with a pole
 
tech/a said:
so in 2 years approx 30 million will die of Stroke or Heart attack
That happens every year

not doing a great deal with the contagious lifestyle that causes these deaths!

think it’s an over reaction
Not the attempted control measures but perceived consequences

when a vaccine arrive it will just be another cold
Click to expand...

Tech without being alarmist I think the current estimates if the infection rate is 2-3% around over 100 mil worldwide will die from the virus and that's on the expectation only 40% will be infected but infection rates could possible be as high as 70%.

Its a big deal and although the numbers are much smaller healthy people will die from it also.

Also apparently having a vaccine in 18 months is a heroic call possible but still heroic.
 
Ok boys and girls...love all the discussion about the impact of Corona, but just pulling the thread back to my OP for a moment. So how did I get on today--well this morning I placed 4 orders based on my EOD setups. The orders were for ALQ, CGC, LNK and NWS. Only NWS triggered a buy, the other 3 (ALQ, CGC and LNK) didn't meet their triggers so no orders.

In the end I was only holding NWS and AVH (AVH was entered yesterday) during the course today. At close today NWS was down 0.24% on my entry price while AVH gave up all of yesterday's gain and closed down 0.14% on my entry prices. A quick scan of my system and it is telling me to keep holding NWS and AVH so I guess it ain't over 'til the fat lady sings. I also appear to have a bunch of good looking setups for tomorrow so I will be taking 3 of them tomorrow morning.

I'll be adopting the same approach tomorrow as I did today--stick my head in the sand and ignore the overnight market activity.

I'll now pass you back to our normal program regarding the spread of Corona. :p:D:laugh::roflmao:
 
I didn't trade again today.
Had a squiz, and, yes, oh my, there's some bargains around...or is there?!
Am expecting the dumping to continue tomorrow, followed by a pumping and dumping to close.
If it plays that tune, will have a crack at something tomorrow for intraday only...
As for last week @qldfrog , with webjet and Qantas up one day, twas fairly obviously a pump dump, and it was across many stocks.
They are 2 stocks that should see massive falls in the face of current times.
After today, am pretty sure that the large money/ big end of town is pulling out of the market en masse....
The money is disappearing.
Consider, every sector down 2nd day in a row.
Best sector today?
Real estate, at only -1.9 % down...
The bargains are yet to be seen IMO.

F.Rock
PS, good luck with the system @MovingAverage
Can't help but think that it may be more successful with discretionary intraday exits at the moment?
 
frugal.rock said:
with webjet and Qantas up one day, twas fairly
Click to expand...

This probably explains why I'm not a shorter, but my logic is telling me that travel and tourism stocks like QAN and Webjet (just to name a few) would see some heavy shorting given they are at the front line and will be the first to have their short term revenue hit hard by this virus. Yet I just checked shorting activity and these companies seem to be way down the list of companies attracting short activity. Oh well, I always sucked at fundamental analysis.
 
sorry to derail the thread MA, with instability:
there is a lot of money to be made in daily trade, no issue about that and good luck for you:xyxthumbs, we will see pump and dump, fake news, fed injection so I wish I had a daily system ready, but I only work on weekly system a lazy but less $ gaining system with the current market.
As for dates and vaccines:
The first vaccine to be approved in the United States was rVSV-ZEBOV in December of 2019
and
The 2014–2016 outbreak in West Africa was the largest and most complex Ebola outbreak since the virus was first discovered in 1976
so 3 years since biggest outbreak or 33 years from discovery,
as for AIDS vaccine, if you know of one, please let me know so that I can buy some shares
There is none working and available

Realistically 22 months minimum for a COVID-19 vaccine to be available (designed, tested and mass produced)
I think this could be the legendary black swan pushing an overreached market over the edge, but Trump will do everything he can to avoid the crash

@MovingAverage , did IVC, PFP, ANN or even gold miners appears in your daily system results?
Have you noticed any specific sector highlighted as a buy (not asking for specific codes, and please feel free to answer post your purchases)
I think this could be interesting
 

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