IFocus
You are arguing with a Galah
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The official "ASX is tanking!" panic thread
- Thread starter RexBudman
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- asx asx tanking panic
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skc
Goldmember
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Lol. I love this post, brightens up the day. If you survived GFC I, you're match-hardened by now.
If you survived GFC I and yet learned nothing... your brain is hardened up.
There is a fault in logic here...
Just because all the chartists you have come across are selling charting... and let's face it those are the chartist who jump out and introduce themselves... it doesn't follow that there are no rich chartists who aren't selling charting.
Thumbs up if you're enjoying this tank
I didn't know much about trading during GFC I... let's see if I've learned anything since.
Oh look.
The basket case that is the Eurozone has used all that flammable gas expelled by the Gang of 7 to blast their sharemarkets on open to dizzy heights! Of course, this will now lead to a frenzied Bull attack on Wall Street overnight?
So, who bought up big on the close??
ASX up 150+ tomorrow??
Uh-oh. 10 minutes is a lo-o-o-ng time in stock trading! Looks like the Eurorocket hit some unforeseen turbulence and is now in a wobbly spin after the French & German tailfins fell off... wonder where it might land?
Can the Spanish & Italian astronuts save it? Run aw-a-a-a-a-y....!
Just like I said, the heroin's effect becomes weaker and weaker. That ECB bazooka only lasted 2 hours. DAX is now back at daily low...
tech/a
No Ordinary Duck
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FTSE tanking nicely
Love a good panic.
Love a good panic.
Hi all,
To all the people that all this is happening to them for the first time:
- don’t panic, stop and think, then stop and think again
- review your strategy for any flaws, if one of your holdings has revealed its weak fundamentals; swap it for one with stronger ones (minimum for the same amount in total dollars)
- remember: “buy on rumour, sell on news” and “be brave when everybody is fearful”. If anything, this is a time for buying. Most of the companies have just started to report earnings so the bulk of the selling is currently done on rumour and fear.
- Australia public debt to GDP is only 25%, for the USA, it is 100%, this is contagion, it will pass… guaranteed.
- if still scared, stop, go and read “The Intelligent Investor”, if still scared, then sorry… the stock market is not for you, wait for the rebound and sell everything and never come back.
Happy investing
This is all well and good but there's lots of baby boomers who can't afford to sit through these stock market gyrations every few years. I'd certainly be tempted to panic if I was them.
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Amazing that they started positive. They do that quite often even when US futures are in the can. Then they tank when US comes on line down. Just weird.
I really do look at charts. Sometimes however macro events make whipsaw whiplash turtle soup of the daily Eliot wave that becomes a running flat negating the expected final wave down that turns back into a weekly Eliot wave that becomes broken, stopped out again sudden reversal gap up to the heavens where it sais to buy again. Nope.
I really do look at charts. Sometimes however macro events make whipsaw whiplash turtle soup of the daily Eliot wave that becomes a running flat negating the expected final wave down that turns back into a weekly Eliot wave that becomes broken, stopped out again sudden reversal gap up to the heavens where it sais to buy again. Nope.
tech/a
No Ordinary Duck
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What the???
US is closed
At open shorts will be covered hence buyers.
When they dry up supply and down it goes,
Thats why it's common practice to fade the open--------
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I suggest you read:
http://tremblinghandtrader.typepad.com/trembling_hand_trader/2010/02/the-problem-with-the-asx-indexes.html
There are various derivatives which track the index, and can be traded around market opening time, but if you are a "noob", I doubt you will be able to develop a sound strategy to make a profit whilst controlling/minimizing risk, slippage, brokerage etc. And I certainly wouldn't be trading highly leveraged derivatives during such a volatile period. Without leverage, you would probably need a massive capital base, just to make a small profit.
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Some of us have it (at least a reasonable part of it) in cash, earning interest and compounding...lol
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Holy cow, that Eurorocket has unexpectedly morphed into the Thunderbird Mole and appears intent on boring straight down to China!
Kauri
E/W Learner
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I wonder if the markets are waiting for Bernankes battlers to fire up and give the punters some direction. Seems, going by the volatility at the moment, that everyone is second guessing their reaction to the weekends events.
Cheers
..... Kauri
Cheers
..... Kauri
tech/a
No Ordinary Duck
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That was fun
Will see how things are in the morrow.
Will see how things are in the morrow.
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Your the smartest duck I'v ever met.
Tell me when to buy something.
Tell me when to buy something.
Respect your views Tech -- and read your posts whenever I encounter them. Mind you I doubt many others find the volatiliity "fun"... Me for one.. I'd prefer a never-ending bull run ....
I found your recent analysis of the DOW very interesting -- think you suggested it could reach 8900.... If you are still holding to this, and if the XJO followed suit, then would this take it to around 3200 which is not far off the low of the GFC? [You even suggested the possibility of a much lower level but I didn't allow my brain to absorb it...]
Thanks for your comments / analyses
Rick
As I type the DOW futures are at -246 but the index has been all over the shop for several hours.
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I guess I was fishing for one to jump out and introduce themselves to me.
Tech made a subtle affirmation. Will see what happens.
I did like your AWE chart SKC. True to form it was too.
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At some point, more stimulus will start to look like this,
Attachments
Julia
In Memoriam
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Exactly. Nothing has changed. No solution to any of the mess is in sight.
Good to have you back, Kauri.Agree. And it's just one of the dozens of cliches that litter this thread.Oh please! A line taken from someone trying to sell fundamental stock tips ferchrissake!
Can we just put that stupid cliche to bed?
If you were a sensible baby boomer who had taken the trouble to acquire even a basic level of financial literacy, and if you'd spent half an hour a day following the world news, you'd have engaged in some capital preservation long before now, and therefore have no need to panic.
NB Sails' comment above.
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Is there still a huge pile of debt that is growing by the minute?
Are central banks still inflating like there's no tomorrow?
Has anyone worked out how to make gold out of thin air yet?
Is world population continuing to rise?
Are China and India still on a path to achieve Western levels of motor vehicle ownership and send oil consumption through the roof?
Are there still wars being fought or threatened in key oil producing regions?
Does Japan still have one almighty mess at Fukushima that they can't even hope to clean up anytime soon?
A few fancy band aids may have been applied but nothing fundamental has been fixed. The problems that existed prior to the market's fall are still there today.
Are central banks still inflating like there's no tomorrow?
Has anyone worked out how to make gold out of thin air yet?
Is world population continuing to rise?
Are China and India still on a path to achieve Western levels of motor vehicle ownership and send oil consumption through the roof?
Are there still wars being fought or threatened in key oil producing regions?
Does Japan still have one almighty mess at Fukushima that they can't even hope to clean up anytime soon?
A few fancy band aids may have been applied but nothing fundamental has been fixed. The problems that existed prior to the market's fall are still there today.