Market took a hammering today

[Luke6450]

All Ords down 69.7... tsk tsk tsk what an average day..... Hopefully there is a pick up tomorrow hey....

 

[CanOz]

There might be more to come yet! Put your lifejackets on......and look for buying opportunities.

 

[Luke6450]

Hmmmm...... We will see...... Time will tell, time will tell.....

 

[justjohn]

Oil sinking ,Gold $596 here we go :grenade: can't wait till tomorrow :

 

[smoothsatin]

There might be more to come yet! Put your lifejackets on......and look for buying opportunities.

What sector/stocks are looking for an opportunity to buy?

 

[Luke6450]

Well I was hoping the market would stick above that 5000 mark and slowly start heading upwards again.... but noooooooooo... Are we in a bear market or what? I think so!

 

[mime]

I got slammed today too.

Any idea why?

 

[GreatPig]

I got slammed today too.

Any idea why?

 

[juddy]

Blame BIS.

 

[smoothsatin]

Blame BIS.

I recall in Jan 05, BIS saying that overnight cash rate would be 8% by the end of 06!

 

[kr1zh]

September 11 traumatised?

 

[juddy]

I recall in Jan 05, BIS saying that overnight cash rate would be 8% by the end of 06!

yep, they're not always right, but the market takes notice of them.

 

[coyotte]

Could be something to do with world wide TIGHTENING LIQUIDITY.

Which is being confirmed by :

MacBank begining to decline last Wed
BHP confirming with it's decline Wed
US treasurey yields 30y/5y @ 1.05 and climbing
Base Metals & Crude falling @ a greater percentage than POG


IMHO the only thing to prevent the June Lows being tested , is that the SP500 makes a close ABOVE 1315 ---- time to SHORT coming into Oct/Nov


Cheers

 

[Smurf1976]

Could be something to do with world wide TIGHTENING LIQUIDITY.

Sooner or later something, or everything, breaks under a scenario of tightening liquidity. Real estate looks pretty sick in Sydney and much of the US. It wouldn't surprise me to see the ASX go the same way, after all the Dow has gone sideways for 7 YEARS now (a substantial ongoing bear market in "real" terms adjusting for inflation).

I'll be ultra bullish on stocks and real estate when underlying conditions favour a bull market. But the way I see it that's not now or in the near future. Of course there are still good opportunities to make money, but simply throwing cash at any stock or property is a strategy for bull markets and especially inflating bubbles, not bear markets. Choose carefully...

 

[Realist]

It's taken a hammering this morning as well. Not so sure why, the DJ was up a little last night.

I've taken a severe beating myself in the past 30 hours.

 

[Freeballinginawetsuit]

It's taken a hammering this morning as well. Not so sure why, the DJ was up a little last night.

I've taken a severe beating myself in the past 30 hours.

Most of my stops got hit yesterday, so I'm buying some today, what a shocking day.
Hope the market dosen't get beaten again tommorrow.

 

[nioka]

I got slammed today too.

Any idea why?

You only lose if you sell? I guess I'm worth less today but there is next week and I don't think any of the companies I have shares in are diong any worse than they were a day or two ago.

 

[ice]

We are a resource dominated market.
That allowed us to make all time highs and outperform other western markets the last 2-3 years.
If/when resources sneeze the whole market gets a cold.
Will it turn into pneumonia?


ice

 

[Realist]

We are a resource dominated market.
That allowed us to make all time highs and outperform other western markets the last 2-3 years.
If/when resources sneeze the whole market gets a cold.
Will it turn into pneumonia?

I don't totally disagree but my Westfield and Fosters shares are taking a bath - why are they down?

 

[powerkoala]

wow
bhp down more than 5%
is this a bargain ?