Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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Also Notting- Fun to watch or were you trading?
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I was trading and that's why it was fun.
But I always assume the worst, so am expecting worse and just trading to my long plan. No heroics! Unless there is something sooo obvious, which isn't heroic, it's like a bully kicking someone when their down!

When I feel great trading I make myself feel bad, when I feel bad try to make myself
feel good when trading. That was just a good afternoon. This morning is the theme until we're well out of here as far as I'm concerned.

I don't know what the hell happened behind the scenes but I'd say some little high security emergency plan stratergy went running through government and big banking ranks and we may or may not find out what that was. I was looking at the vision of little Swanny on TV marching down some isle this morning he had something on his plate and he didn't looked panicked or Grey that was interesting.

CBA lowers interest rates. :eek: That was really an interestesting phenomina. Perhaps their getting so much money from cashing out Bears that they don't need to lend from overseas any more and they all topped up their share portfolios with the cash :D Roar
 
nomore4s said:
It wasn't the shorts that made my day it was the longs off the bottom that made for truly great trading, not often the SPI moves 250+ points or the HSI moves 1000+ points in a session.

Stuffed up my trades on a few ASX20 stocks though, got shaken out of the trades just before the bottom, oh well can't win them all.
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I have to admit I didn't trade the long's, (even though my analysis said 3800 for the bounce) just took some healthy profits out of my short positions when my stop's got triggered. Still more volatility to trade in the coming days - the ride is not over yet.

Oh and I won free beer on my call where the XJO was going to end up. :D

Cheers
Sir O
 
skc said:
Just thought I'd share a commemorative screen shot of my account today... :)

View attachment 43917

I am so tired. I haven't concentrate that hard for that long for a long time. And that's following bedtime at 3am last night...
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That's pretty decent SKC....after some sums...

I had a 19.48% profit on total account size, or a 56.48% return on own funds.

Love this market ATM

Cheers

Sir O
 
skc said:
Just thought I'd share a commemorative screen shot of my account today... :)

View attachment 43917

I am so tired. I haven't concentrate that hard for that long for a long time. And that's following bedtime at 3am last night...
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hahah, well done, got you covered;):p: only just though, tbh I didn't trade as well as I would have liked, could've been a lot better if I was more switched on:banghead:. Might even have a beer tonight now:D.

PS - That is in HKD
 

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nomore4s said:
hahah, well done, got you covered;) only just though, tbh I didn't trade as well as I would have liked, could've been a lot better if I was more switched on:banghead:. Might even have a beer tonight now:D.

PS - That is in HKD
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I was going to brag about my off market earnings today... but happy that i waited for the competition's efforts.

I will be having a beer, but you be sure to have an extra high quality beer (not that Aussie shyte) after that effort. :D
 
Julia said:
You seem to rather be admonishing Sails for her comment, Rick. I don't see where she has 'sat in cash consistently' or where she's suggesting anyone else should do so. As a very experienced options trader, I'd be surprised if she had....
.
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In relation to Sails, Julia, I was commenting on the "lol" add-on only -- and didn't see the need / reason for it. I apologise to her if she read any other inferences into the rest of my post.

That "rest" was an observation about a range of posts which have impressed me as unhelpful and implicitly critical.

As I have said before, typing words onto a screen is an incomplete communication process.

Best wishes

Rick
 
nomore4s said:
hahah, well done, got you covered;):p: only just though, tbh I didn't trade as well as I would have liked, could've been a lot better if I was more switched on:banghead:. Might even have a beer tonight now:D.

PS - That is in HKD
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Nice! I won't show u the screen shot of my ES put options that I bought on 28 July ;):p:

Or the gold futures that got stopped out $100 ago :banghead: :banghead:
 
Sir Osisofliver said:
That's pretty decent SKC....after some sums...

I had a 19.48% profit on total account size, or a 56.48% return on own funds.

Love this market ATM

Cheers

Sir O
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Lol what I didn't show is of course my account size. If my account is ~$50m that's just the interest for the day :p

Whilst I am enjoying this craziness I hope it pause for a couple of days... I have been staying up late too much.

P.S. World realised that China inflation figures are terrible... everything is retracing now.
 
Gringotts Bank said:
I'm pretty sure that's the biggest intra-day range since 1987. Massive lower wick.
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With AS and X in it's title and it's cheapness perhaps it mistook itself for a pr0n shop.
That reminds me what did cash converters do today?
I hope it's still there. I may need it to assist with some leveraging.
 
nomore4s said:
It wasn't the shorts that made my day it was the longs off the bottom that made for truly great trading, not often the SPI moves 250+ points or the HSI moves 1000+ points in a session.

Stuffed up my trades on a few ASX20 stocks though, got shaken out of the trades just before the bottom, oh well can't win them all.
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In the time it took me to bath my baby, the HSI moved almost another 1000 points... this time back down.

Unbelievable.
 
notting said:
Jesus. Faber reckons US government bonds are the short of the century. Don't tell China!
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Do you have the clip?

I love listening to Marc Faber. He said a few months ago he was shorting ANZ and as usual, he was right

He did say lately the market was oversold so might bounce in the short term
 
skc said:
In the time it took me to bath my baby, the HSI moved almost another 1000 points... this time back down.

Unbelievable.
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Hahaha, spewing I shut up shop early to walk the dog then. Will log on and have a look.

What an amazing day!

Tell you what though if the good ole US of A has another stinker tonight (although I think it will finish in the green but you never know) it could be pretty ugly for the ASX tomorrow considering the strength of today's rally.
 
Muschu said:
In relation to Sails, Julia, I was commenting on the "lol" add-on only -- and didn't see the need / reason for it. I apologise to her if she read any other inferences into the rest of my post.

That "rest" was an observation about a range of posts which have impressed me as unhelpful and implicitly critical.

As I have said before, typing words onto a screen is an incomplete communication process.

Best wishes

Rick
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You are right, Rick, given the severity of the down move, I shouldn't have added the lol. I think I wrote that a couple of days ago when it wasn't quite so dramatic and it wasn't intended as a spiteful thing. It's not easy having super mainly in cash when the markets are travelling up and others are crowing about their gains. So, the lol was probably more a sense of relief that the funds were safe and some justification for putting up with the lesser gains during the market's uptrend.

But being in cash is also due to some pretty difficult family issues which are taking up a lot of my time (and have done so for some time now) we decided to keep our SMSF in cash given the economic climate and the reasonable interest rates on offer, and to take the pressure from me to manage it. I still trade options directionally if I want to participate in a directional move. I had a hunch to buy puts on 1st August (big up day in a down trend), but didn't have my usual charts or any other info up to date, so decided not to do anything on a hunch alone...:rolleyes:. But that's trading.

So, my apologies for any insensitivity to others struggling in this market. But, it might also show newbies that one doesn't have to be in the market all the time either.
 
nomore4s said:
Hahaha, spewing I shut up shop early to walk the dog then. Will log on and have a look.

What an amazing day!

Tell you what though if the good ole US of A has another stinker tonight (although I think it will finish in the green but you never know) it could be pretty ugly for the ASX tomorrow considering the strength of today's rally.
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The market seems to spin quicker these days.

The US debt ceiling deal I'd expect to generate a 2-day rally. That lasted only the morning.

The ECB intervention I'd expect to spark a 2-day rally. The European futures rally only lasted 2 hours.

After the rapid fall on ASX you would expect a few days relief.... but it might be just this afternoon. The XJO futures already down ~50pts from close.

The test tongiht, again, will be what sort of stuff Uncle Ben pulls out of his ar$e. But it's not looking good for that to last too long either.

The announcement is at 4am our time... I might go to sleep now.
 
The announcement is at 4am our time... I might go to sleep now.
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I've barely slept in three days. It's all to exciting at the moment. Like a football game that just doesn't end.:eek:
Exept in my own tears maybe. London Riots. Hard for it to be up tonight. Go USA. Although I'd like more shananigans for more buying over a longer time frame. But not allied riots.
 
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