Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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What's going on with Greece?
Well, everyone knows they are bankrupt.
However, no one has wanted to take that hit on their balance sheets till now, especially the Spanish, Italian and French banks who have all been stretched for capital as it was.

Recent moves like the ECB allowing unlimited 1% credit lending is supposed to sure up these lenders and show to Greece that it's leverage aint as great as it might have first thought it was and that they should at least try to get the place in order rather than just try to work with the threat of destroying European institutional balance sheets.
There seemed to have been some kind of Greek political capitulation over the last couple of days as even their unacceptable austerity measures that they were so belligerently,pretending to be inacting, where given the thumbs down by the rest and for the first time they actually looked into the depths of the abyss!! - "Sh*t, they are actually in a position to take on the default and are not going to give us the money!!"
Floundering around with white gills and no where to turn, I don't know exactly what happened in the background but they must have volunteered something reassuring that previously had not been forth coming and the ECB offered a bit of direct support.

"Hey Greece never defaulted, so no ones going to appear to default", thought the astute traders. Over night markets all rallied with the same low volumes that have been apparent for the last six weeks.
 
Starcraftmazter said:
More like everyone is frustrated our market has underperformed so horribly and nobody knows what the **** is going on with Greece.
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My contacts tell me that Greece is to be sold to the Townsville City Council and that a prominent former Townsville identity with skin in both places, is to broker the deal.

This should cause a reversal in the ASX when it next opens.

gg
 
Garpal Gumnut said:
My contacts tell me that Greece is to be sold to the Townsville City Council and that a prominent former Townsville identity with skin in both places, is to broker the deal.

This should cause a reversal in the ASX when it next opens.

gg
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Ha ha, that must be true given the latest rates notices. They must be using our money for something!
 
Chasero said:
It's an observation based on yesterday's trade.

i.e. asx broke key support levels again.

Today's action shows lack of interest in share market as well.
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I can't see how you can draw any accurate picture of investors attitudes from the daily jirations of the market, you are not partaking in any analysis of merit, but simple trying to guess what hundreds of thousands of other people are thinking.
 
The investor is the man with patience and the courage of his convictions, who would buy when the harried or disheartened speculator was selling. If an investor is now to hold back until the market itself encourages him, how will he distinguish himself from the speculator, and wherein will he deserve any better than the ordinary speculators fate?
 
Tysonboss1 said:
I can't see how you can draw any accurate picture of investors attitudes from the daily gyrations of the market, you are not partaking in any analysis of merit, but simple trying to guess what hundreds of thousands of other people are thinking.
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Tysonboss1 said:
The investor is the man with patience and the courage of his convictions, who would buy when the harried or disheartened speculator was selling. If an investor is now to hold back until the market itself encourages him, how will he distinguish himself from the speculator, and wherein will he deserve any better than the ordinary speculators fate?
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Lordy Lordy Tyson!

You castigate Chasero for pigeonholing "investors" attitudes and in the same breath pigeonhole "speculators" who might be selling as harried and disheartened... and then go on to make assumptions on what a speculator's fate might be.

What the hell? Did you take communion from the Church of Latter Day Buffet Acolytes today or something?

How do you know "who" is selling what an investor bought?
Another investors rotating assets?
An investor cashing up for another purpose?
Day traders?
Swing traders?
Short sellers?
Delta hedgers?
etc etc etc?

Once more, how do you know the investor is:
(a)a man
(b)has patience
(c)has courage and
(d)has convictions?

It would generally be wise to leave aside generalizations when bagging someone for a generalization. :rolleyes:

Sheesh!
 
Wow! This thread is really oscilating now away from the topic. Perhaps all the "perps" could take a break and let the general discussion come back to the speculation of: The official "ASX is tanking!" panic thread.

The ASX took a pounding this week. Mining and Finance were slapped arround. Even the property sector took a hit. Much of it can be linked to the negative sentiment generated when "Analyst expectations" were not met. Some bigger than average volumes were traded as "holders" sold down. There are further reports due out in the coming weeks and I expect the volitility will continue.

I would not be surprised to see the ASX the 4200 level.
 
wayneL said:
You castigate Chasero for pigeonholing "investors" attitudes and in the same breath pigeonhole "speculators" who might be selling as harried and disheartened... and then go on to make assumptions on what a speculator's fate might be.

What the hell? Did you take communion from the Church of Latter Day Buffet Acolytes today or something?

Once more, how do you know the investor is:
(a)a man
(b)has patience
(c)has courage and
(d)has convictions?

It would generally be wise to leave aside generalizations when bagging someone for a generalization. :rolleyes:

Sheesh!
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That paragraph was separate to my comments to chaseo, It is a paragraph from Benjamin grahams 1940 security analysis, I was just re reading it last night and thought it related to many earlier comments where people state they are waiting for the market to give them signs to enter.

How do you know "who" is selling what an investor bought?
Another investors rotating assets?
An investor cashing up for another purpose?
Day traders?
Swing traders?
Short sellers?
Delta hedgers?
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The truth is nobody knows who is selling and who is buying, But I believe in the paragraph Graham is trying to get the point across that the investor should be looking at buying when the market is very depressed and it appears people are fleeing rather than when the Bull market is being flooded with speculative buy orders.

Once more, how do you know the investor is:
(a)a man
(b)has patience
(c)has courage and
(d)has convictions?
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a, an investor is not likly to be a dog or a cat

and, Points B, C, D are points I believe (and Graham believed) that the best investors have, and others should aspire to, A bit like soldierly qualities, Not all Australian soldiers have "Courage, Integrity and mateship" But it is certainly widely accepted that those qualities make better soldiers and should be aspired to.
 
wayneL said:
An investor can't be a woman :confused:
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The word Man is not exclusively used to distingish sex.

the Webster dictionary defines "Man" as (1) : an individual human. b: the individual who can fulfill or who has been chosen to fulfill one's requirements <she's your man>

A human regardless of sex or age; a person.

In fact the word Woman, comes from "Womb man". So a Woman is just a Man with a womb.

Man is also a term widely used to describe - a bipedal primate mammal (Homo sapiens) that is anatomically related to the great apes but distinguished especially by notable development of the brain with a resultant capacity for articulate speech and abstract reasoning, is usually considered to form a variable number of freely interbreeding races, and is the sole living representative of the hominid family; broadly: any living or extinct hominid
 
Tysonboss1 said:
The word Man is not exclusively used to distingish sex.

the Webster dictionary defines "Man" as (1) : an individual human. b: the individual who can fulfill or who has been chosen to fulfill one's requirements <she's your man>

A human regardless of sex or age; a person.

In fact the word Woman, comes from "Womb man". So a Woman is just a Man with a womb.

Man is also a term widely used to describe - a bipedal primate mammal (Homo sapiens) that is anatomically related to the great apes but distinguished especially by notable development of the brain with a resultant capacity for articulate speech and abstract reasoning, is usually considered to form a variable number of freely interbreeding races, and is the sole living representative of the hominid family; broadly: any living or extinct hominid
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Context is everything Tyson. Certainly the above is true in the correct context, but in the modern PC world, one must be careful regarding gender specificity...

...Lest we be taken away and "re-educated" by the thought police. ;)
 
For long only punters its been a nightmare, i have like 7 open trades and have added to 5 of them...8 months for 1 closed trade bring on the rally FFS.
 
So_Cynical said:
For long only punters its been a nightmare, i have like 7 open trades and have added to 5 of them...8 months for 1 closed trade bring on the rally FFS.
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One of the experts on Inside Business this morning predicted "about a couple of weeks to go of this rally."
 
With the Dji up 23% since the October 11 low satisfies the definition of the US being in a bull market with a move of >+20%.
 
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