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The official "ASX is tanking!" panic thread

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YELNATS said:
Lol. I love this post, brightens up the day. If you survived GFC I, you're match-hardened by now.
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If you survived GFC I and yet learned nothing... your brain is hardened up.

notting said:
Ever met a rich chartist that isn't selling charting?
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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.

Tanaka said:
Thumbs up if you're enjoying this tank
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I didn't know much about trading during GFC I... let's see if I've learned anything since.


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...
 

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.
 
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.
 

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--------
 
tminus said:
A noob question: is it possible to short the ASX at 10.01am to catch part of the fall, or is 10.01 too late as there would be a back log of stop sells to process.
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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.
 
banco said:
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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Some of us have it (at least a reasonable part of it) in cash, earning interest and compounding...lol
 
skc said:
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...
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Holy cow, that Eurorocket has unexpectedly morphed into the Thunderbird Mole and appears intent on boring straight down to China!

 
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
 
That was fun

Will see how things are in the morrow.
 
Your the smartest duck I'v ever met.
Tell me when to buy something.
 
tech/a said:
That was fun

Will see how things are in the morrow.
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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.
 
it doesn't follow that there are no rich chartists who aren't selling charting.
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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.
 
Kauri said:
I wonder if the markets are waiting for Bernankes battlers to fire up and give the punters some direction.
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At some point, more stimulus will start to look like this,
 

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tech/a said:
WHY.
Is everything fixed???
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Exactly. Nothing has changed. No solution to any of the mess is in sight.

Kauri said:
Just another small bout of Profit Taking...... :couch

Cheers
......... Kauri
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Good to have you back, Kauri.

wayneL said:
Oh please! A line taken from someone trying to sell fundamental stock tips ferchrissake!

Can we just put that stupid cliche to bed?
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Agree. And it's just one of the dozens of cliches that litter this thread.

banco said:
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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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.
 
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.
 
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