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PANIC!!!!! (Strategies for those long)

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Re: PANIC!!!!!

I only trade short to medium term and I started the morning with 10 long and 2 short positions. I now have 3 long and 2 short positions.
All the longs were closed at open as they were going to open below their stops.
Now I might finish packing up for my fishing trip and forget about trading for a few days...
 
Re: PANIC!!!!!

Yeah that'd be pretty frustrating. The trick must be to get on early on days like today, i was on at 8:30 EST and haven't had any disruption. Pity to people trying to phone through, I was gonna top up my ML in light of todays..."events" but I might wait till things settle (or am I asking too much) lol
 
Re: PANIC!!!!!

It's interesting seeing some of the posts of those lucky enough to be cashed up and buying in todays market. Someone referred to selling all yesterday which shows almost crystal ball abilities. Other have been expecting the correction and have been cashed up for some time. But what have they missed out on along the way. I've made $48k since 31 December by being fully invested in the market and dropped the best part of $30k this morning. I'm not too worried cos I reckon they will bounce back. All of my stocks I'm happy to be in and I'm pissed I have no cash to buy more.
 
Re: PANIC!!!!!

I finally managed to log into Commsec.

And I think the whole neighbourhood would have heard an extremely loud "Ohh Faaaarrrrkkkk" as I saw what I had lost.

But I am holding everything....
 
Re: PANIC!!!!!

I've sold down a fair bit on metal stocks and a little on the gold - prefer to take a small cash hit today early and have cash ready for when the real bargains are around when the dust settles (which could potentially be a while away yet).

This smells like the possible start of a reversal rather than a correction to me and I'm happy to have some money back in the bank for a while. I know that some things will be oversold and bounce back but still happy to go partially flat for now.
 
DON'T SELL YOU PANICY BUNCH!!!!!!!!!!

These falls aren't anything to get worried about... yet anyway... Remember, If you're close to 50% CGT or chasing it then you probably will find it's cheaper to hold...
 
Re: PANIC!!!!!

All of my stocks are reacting very well to mid and long term support. If it breaks this, then it's time to get out. That's my thinking at the moment anyway. But the stocks I'm holding are actually looking really strong, and creeping back up.
 
Re: PANIC!!!!!

12:30 - in one and a half hours!!

Go China!! :
 
Re: PANIC!!!!!

Hey at least everyone's stock picks for the stock tipping competition is going to start nice and low
 
Re: PANIC!!!!!

Realist said:
12:30 - in one and a half hours!!

Go China!! :
Click to expand...

Where can we see what the chinese stockmarket is doing at least the Index?

If it rebounds today then we are all good?
 
Re: PANIC!!!!!

I think that depending on what you hold, it doesn't matter what China does today. There are HUNDREDS of companies with 0 China exposure and that don;t do business with China or any other company that does business with China. Look at the banks, LPT, consumer staples and utilities to name a few...off 1-2.5% today. What a good opportunity to buy ! I'd wait and see for the miners/China exposed stocks until the SSE opens but even the China-heavy stocks have pulled back slightly since the open. You have to be realistic and think...has today changed the fundamental value of my stocks? And you will find the answer is a resounding 'no', even for your Chine/resource-exposed holdings.
 
Re: PANIC!!!!!

"Mixed emotions..." - I don`t think there`s a heap to worry about (yet)... But it is certainly a wake-up call to many people (many who are overlaoding Commsec and making management there VERY HAPPY) who seem to think that these thingys called shares have an exclusively ballistic trajectory... And then trumpet to all and sundry about what genuises they are - might not be hearing it so much now... As was eludicated - a good coy with good prospects won`t change after this - but the dozens of floats that have come to market in the last few months with nothing but tenements, rock chips, and conceptual models might be going bye bye... If anything this would help alleviate some of the labour shortages that have been crippling some of the smaller projects...
 
Re: PANIC!!!!!

My bad luck is that I'm fully comitted heavily in 3 stocks, I sold some on loss after 10:30 today & am spreading buys all over the mining industry & specially Nickel stocks......by the way....nickel was up yesterday

yes it may take some time for full recovery, so I'm not buying heavily today, I'm keeping big portion for futher chances if the dive keeps going.

cheers,
 
Re: PANIC!!!!!

Well, am holding tight except for one share and have just sold that one now, to protect profits. MFS is in a trading halt so that is doing really well - by maintaining yesterday's close. Does that count as a Green

NAB online seems to be holding up but some sales were delayed due to increased volumes, or maybe they were the buys which is why everything is crashing. I wish....
 
Re: PANIC!!!!!

Dr Doom said:
I've just gone boots n all long XJO. Bargain time
Click to expand...
That’s a brave call.


Funny, I learned an axiom about trying to catch a falling knife a long time ago, and still apply it.

In this scenario I have no longs, and have been focussed on the short side since the start of last week…

I think there is significant downside potential currently… but in specific sectors.

Mag
 
Re: PANIC!!!!!

i cut lose two call options on the xjo on open to keep my profit at 7k they expire in march. If they had another 3 moths to expire i would have kept them.

As for what is happeing today hard to say weather it will take a day a week or a month to bounce back.

But I am looking to go long, pulled a short on open made couple of pennies but my trailing stop was hit real fast.

May go short again if there is another disaster in China exchange.

Back to topic

If i was holding long term positions and they where still above trend lines i would not panic.
 
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