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

[Freeballinginawetsuit]

Re: PANIC!!!!!

That's not much of a bounce. Momentum could shift down again, if no buyers> this ones going to bump further after tinkering for a few days. Too much room to cut some further slack.......

 

[2020hindsight]

Re: PANIC!!!!!

reminds me of trying to pick the winner of Bradburys ice skating race

 

[wavepicker]

Re: PANIC!!!!!

That was a pathetic rally IMO. Correction looks to be in it's infancy.
Looks like we won't get a sustainable counter for 1.5-2 weeks.

The one larger trend is down, the trend is not at risk of ending,therefore stay with the trend.

Cheers

 

[Freeballinginawetsuit]

Re: PANIC!!!!!

LOL, the finishing lines insight...US may stumble but its about time we did a Bradbury and separated from the frontrunners.

 

[2020hindsight]

Re: PANIC!!!!!

freeball, I've already hung up one skate - (about 50% portfolio still in there) - might hang up the other one for a bit if I get the chance, have a cup of coffee - I have this feeling that Bradburys are pretty rare events

need more courage and more backing funds ( less consequences of a wipeout) than I have to ride this one
possibility of losing 10% short-term - high imho
possibility of making 10% short-term - low imho

 

[wayneL]

Re: PANIC!!!!!

I'm seeing some pretty strong inverse correlation between the yen and the US indicies over the last 3 months... obviously because of the implications of the carry trade.

The US indicies put in a stalling day (spinning top in candle parlance) and the Yen has done likewise.

Just a heads up, could be an idea to keep an eye on the yen/BOJ etc.

NB: The stalling being relative to yesterdays range and the new volatility.

 

[Freeballinginawetsuit]

Re: PANIC!!!!!

20,

No intention of selling anything out of my Investments ATM, quite happy to spill some milk out of that one at the appropriate time.....irrelevant really.

Trading funds wise I'll just trade whats in front of me.....if it all goes sour I'd be quite happy to pick up some value and kick back for a while and take a spell.

It would take a lot more than the last 2 days too change my opinion on whats driving the Aust market....All Ords back at 4800 might push my button.

 

[Atomic5]

Re: PANIC!!!!!

Ok, now I really don't get it!!! I come home from work and what has taken me 9 months to recover from the last so called correction is gone in a day and no one has quoted "a sea of red" or "blood on the floor". You guys not going soft on me are you? (starting to feel a little like Wile E Coyote chasing the Roadrunner in the cartoons, just as I catch up CRASH!!!)

Ditto: I was holding the first real profit I had seen since losses last May - suddenly my $ gone again!

Now after the bloodbath, the USA is making out as though theres no recession ... woo hooo what a party. Analysts today are saying this was not a China based scare but a false US economy scare. Even Bernanke today: no housing crisis, no 'durables' data problem and no inflation.... ?????. In fact the US economy is going really well....! Let's rally.

Bernanke's so positive some say he's lying. And he doesn't want to put blame to Greenspans comments as the only trigger, ....... ? no? Nothing to the recession comment then???? Oh ok no problem. Just another senseless powerplay.

Next time Greenspan, if you want media attention, try claiming you're the father of Anna Nocole Smiths baby instead





MHO - Please DYOR

 

[Little1]

Re: PANIC!!!!!

With apologies to Rudyard Kipling:

"If you are able to keep your head when all around are losing theirs, then perhaps you don't have a full grasp of the situation".

I bought into stocks I had been watching for some time.

Got wiped out with MBL as my cfd stops got executed and picked up the loss on PDN cfd's. Should have watched the dead cat syndrome more closely but brought my trailing stop up to cover the MBL loss.

Came out square and owning some cheap PDN shares. New stop in place with a win loss ratio of 3 to 1.

Thanks to Nick Radge for good advice on protecting profits and to Tech/A for pointing me in the right direction.

 

[Dr Doom]

Re: PANIC!!!!!

I think the figures speak for themselves, it's only just the beginning of the worldwide recession.

 

[Freeballinginawetsuit]

Re: PANIC!!!!!

Well the Dow closed 53 points down, double the avg Vol with advancers considerably on top. Last couple of hours volumes were encouraging. Pretty much the same dynamics as our market yesterday. Still a shabby bounce though.

 

[Atomic5]

Re: PANIC!!!!!

The EU countries are doused in Red today and no-one seems to believe Wall Street. The mining giants are down 4-5% again.

Dr Doom I think you're right. But what's going on? Why is the US covering up?
Has Bernanke been paid off to shut his inflation pedling mouth?


MHO - Please DYOR

 

[Dr Doom]

Re: PANIC!!!!!

Atomic5, I'm not sure it matters what Bernanke says anymore, the markets will adjust irrespective to what is said by the controllers of the world currency. The signs have been there for over a year now that there is structural & fundamental problems with the US economy, only everyone has turned a blind eye eg 'deficits dont matter anymore'

Have a look at this site for an amusing insight into deficits

http://web2.airmail.net/scsr/

Frankly I think they have lost control and wouldn't have a clue on how to deal with it now the contagion has started.

 

[CanOz]

Re: PANIC!!!!!

Well the Dow closed 53 points down, double the avg Vol with advancers considerably on top. Last couple of hours volumes were encouraging. Pretty much the same dynamics as our market yesterday. Still a shabby bounce though.

FreeBee, did you mean the DOW closed up?

Cheers,

 

[Freeballinginawetsuit]

Re: PANIC!!!!!

Yep

 

[CanOz]

Re: PANIC!!!!!

Yep

Hmmm, thought so, but i just woke up so i wasn't sure what was going on.

Cheers,

 

[nizar]

Re: PANIC!!!!!

THe corrections all over??

 

[petervan]

Re: PANIC!!!!!

The correction is over for now but are we going to see a volatile Chinese market zig zagging up and down. What if Israel hits Irans nuclear failities? Then i think we will see a major correction followed by recession.Still make hay while the sun shines.

 

[theasxgorilla]

Re: PANIC!!!!!

I really can't see how large portfolio gains are "claimed" when so many keep buying into record stock market prices.

IMO people continue to be able to "claim" gains for two reasons...

1. In many markets the traditional notions of a reasonable price for an asset relative to value, yield and risk have detached from their morings a long time ago...you only need to buy and sell with a price delta to make a gain. Value, yield and risk are secondary considerations.

2. People trade derivatives and sometimes they don't need a price move (or MUCH of a price move), or a dividend etc. to actually make money.

The ASX Gorilla.

 

[Sean K]

Re: PANIC!!!!!

Yesterday wasn't a correction, it was just a blip. another 5% drop and we'll have a proper correction. If the market takes back all the losses immediately, we'll be straight back where we were a few days ago. Overbought.