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The official "ASX is tanking!" panic thread

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McCoy Pauley said:
A lower low is generally a bearish signal. You want a series of higher highs and higher lows to indicate an upward trend in an index or stock price. I'm sure one of the technical analysts floating around ASF can expand on this.
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Thanks, no need to expand, that enough for me
 
Chasero said:
total bloodbath today.

I suspect the bigger boys are having field days and shorting every stock possible.

After the 2bn loss from goldman sachs was it? bet they are angry !!

Lets hire media and shove greece in every headline possible
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Imagine there's a big storm and there is a small fish in the ocean. The small fish says... those big ships must be having a field day playing in the water.
 
skc said:
Imagine there's a big storm and there is a small fish in the ocean. The small fish says... those big ships must be having a field day playing in the water.
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The small fishies might still be in the ocean, or relaxing in a nice little aquarium somewhere

It's up to them if they want to be swimming with the big boys.
 
Good grief!!:fish::fish::fish::rocketwho
 
CanOz said:
Got to be a wash out first, then a bounce, then another low...a higher low...be patient:nono:.
CanOz
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Yep. A story in the media this afternoon about a super fund going belly up, didn't catch all of it, but it won't help sentiment. Anyone following?
 
Ouch, was expecting a dip between 20 - 40 points. Didn't expect miners to get sold down this much or tls and the property sector.
 
The financials XFJ have only fallen 5% from the recent peak, while the materials XMJ has gone -14% this month. XSO small orgs down about the same.

Now will the financials reach down and catch the materials or the other way round?
 
skc said:
The financials XFJ have only fallen 5% from the recent peak, while the materials XMJ has gone -14% this month. XSO small orgs down about the same.

Now will the financials reach down and catch the materials or the other way round?
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Personaly I would like to think not because the financials never seemed to get the support that lifted materials to the extent they were. I expected materials to come back to similar levels as financial to some extent, but not as quickly as they have.

Perspective of concern is where financials are impacted by the eurozone fiasco, materials are generally impacted more by whats happening in china. The present materials fall appears a bit exagerated. It isn't like the chinese economy is going into reverse, yet, more that their rate of growth has slowed slightly.

The market is skittish atm to say the least.
 
when headline is closer IMF scrutiny on the big four here in Oz, I would not bet the banks will stay safe for long; Completed a sell out of them completely last week..
wait and see
 
qldfrog said:
when headline is closer IMF scrutiny on the big four here in Oz, I would not bet the banks will stay safe for long; Completed a sell out of them completely last week..
wait and see
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Banks all round are in strife (or perceived to be, I think). Came across a news line today that Greeks withdrew something like 700 million Euros from banks in the last little while (week, I think).

If the run on banks has started, then there will be nothing orderly about default, nor will contagion be contained, at least in the short term. All the banks owe each other money and once they freeze to each other, this is the collapse that started GFC Mark I.

If you can still pull out to sit on the sidelines, it would be a spectacle. Otherwise, hang on tight. Only room in there for the crazy-brave ATM
 
OMG its the end of the world again.


Again


Again


Again
 
MrBurns said:
I hope it won't be domestic chamapagne for you gg, I'll send you a case of Krug Clos d’Ambonnay 1995 to tide you over if need be
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If it doesn't come in a four (4) litre cask, gg might have a problem opening it.
 
Aussiejeff said:
Yaaaawwwwnnnnnn..

I love the smell of freshly printed Euros in the morning.

*sniff*

Duh, not pungent enough yet to come out of the cave.

zzz.zzzzzz...
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+1.

No short term resolution to the current headlines. The Greek elections will take another month and, guess what, if the electorate thinks no-one took its significant shift to the Left seriously enough, it will make a more emphatic statement next time around (just like everyone in Australia is waiting to make an emphatic statement at the next election about emphatic statements the PM made at the last election).

The irony is the pain to be felt by the previous government's austerity measures is likely to be felt many times over by the Left heading for a Exit, but voters will always choose avoiding short-term pain.

So the Greek exit is a near certainty. What's not clear is the contagion effect, but if the (already started) run from the banks becomes a sprint, then the contagion effect will precede the Greek exit (and be multiplied by it when it happens).
 
So_Cynical said:
OMG its the end of the world again.


Again


Again


Again
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We much be getting closer to being correct right? By that time I'd be an absolute genius. The post apocalypse zombies will worship me like a God.

Although I must admit that may feel somewhat meaningless.
 
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