Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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What did Ben have in that water pistol?
Maybe it had a needle on the end of it.
Not much of a reaction, then suddenly Europhorio
Or was it just me?
The cat lives. For another day.
Looks like the banks had a good afternoon yesterday buying up all the shares with Bear money pooring into short term fixed interest accounts.
Now their encouraging everyone to throw it back into shares by cutting interest rates.
We shorting today?
 
Starcraftmazter said:
Massive, massive...massive volatility. It would be interesting if 4000 became the new resistance. I wonder what proportion of the sales are foreign investors pulling out because our currency has depreciated against the USD In the last week :confused:
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That's right, find any excuse but the carbon tax...:D:D:D
 
notting said:
What did Ben have in that water pistol?
Maybe it had a needle on the end of it.
Not much of a reaction, then suddenly Europhorio
Or was it just me?
The cat lives. For another day.
Looks like the banks had a good afternoon yesterday buying up all the shares with Bear money pooring into short term fixed interest accounts.
Now their encouraging everyone to throw it back into shares by cutting interest rates.
We shorting today?
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Another crazy night... the range of SPX was 80 handles. DAX swinged up and down 8%. If this isn't a sign of a healthy market I don't know what is. :cautious::rolleyes:

And Ben pulled out the most impressive weapon of all. Not QE3, but the prospect of QE3....
 
RexBudman said:
How the heck did you do that?
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All my long positions got stopped out several days ago. I only had short positions open (about 12 trades), mind you the massive volatility we had yesterday closed out all but one, which looks like it'll stop out this morning... I just hope it doesn't gap up on me :)

Cheers

Sir O
 
A lot of up-gapping stocks this morning, as you'd expect, but on very low opening volumes, which doesn't augur well. I'm not sure we'll get much past 4120 today.
 
As nice as yesterday might have looked, one could hardly say a new uptrend is beginning...

... waiting patiently.
 
Does anyone "really" know where this market is going? I certainly don't! Is this just another snapback?
A few days ago we had massive gloom predicted by a number of posters... Are those predictions still in force?
 
How glad I am i didn't exit at down 23% yesterday.

Just wish i had the spare money to dump in.

See what payday brings me and i'll wait out for more opportunities :).

Happy trading all.

P.S. Not sure if anyone noticed but OZL temporarily dropped to 1.56 instead of 11.50 ish, not sure what happened there but i better go change my undies.
 
Muschu said:
Does anyone "really" know where this market is going? I certainly don't! Is this just another snapback?
A few days ago we had massive gloom predicted by a number of posters... Are those predictions still in force?
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A legit week long rally probably.

Though today is all about fading imo
 
alexc2005 said:
How glad I am i didn't exit at down 23% yesterday.

Just wish i had the spare money to dump in.

See what payday brings me and i'll wait out for more opportunities :).

Happy trading all.

P.S. Not sure if anyone noticed but OZL temporarily dropped to 1.56 instead of 11.50 ish, not sure what happened there but i better go change my undies.
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Your a very slow learner Alex.
Your looking at Profit profit profit

Where as the astute would be looking at Risk mitigation.
Ah well we all must learn the hard way.

Rick in answer to your question.

This is another bandaid repair job on a very shaky economic environment.
The rejection of the low was damned impressive.The highest point reversal in history.
What we need to see is what the market does after volatility dies down.
In the next few days we will see if this demand is temporary (Which I feel it is) or more sustained (which everyone is thinking it is--myself excluded).

I will either be joining the herd or they will be joining me in a few days.
I have no intentions of attempting to be a hero.
Opportunities will always present themselves WITHOUT the risk.

YOU MAY TAKE NOTE

That currently many stocks are off their opening buy price.
So as I suspect rallies will be met by supply who are thanking their lucky stars!!
 
alexc2005 said:
How glad I am i didn't exit at down 23% yesterday.

Just wish i had the spare money to dump in.

See what payday brings me and i'll wait out for more opportunities :).

Happy trading all.

P.S. Not sure if anyone noticed but OZL temporarily dropped to 1.56 instead of 11.50 ish, not sure what happened there but i better go change my undies.
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I think this is a common thought - get back in, quick, but then I remember reading something on Monday that was also said

alexc2005 said:
Defnitely should have taken losses this morning.
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Be interesting to see if this is said again in the next week. How much has really changed? since Monday ?

Unless your nimble enough to move quickly, and you know where to move to, will probably be some more anxious moments. But when? who knows
 
Thanks Tech -- I am just watching as the mystery unfolds and a moe sustained direction becomes apparent.

Rick
 
Yeah, good points guys.

Very good points.

It's hard not to get my hopes up when i am looking at green for once.

But yes, you're 100% right, i really should and have been considering taking some losses this week. I am just keeping an eye on it all and will make the decision when i see fit.

As for dumping money in, thats hindsight talking. Even if i had the money i doubt i would have had the balls to jump in yesterday when i was sitting there looking at 23% loss.

My emotions towards the sharemarket are as much a rollercoaster as the sharemarket itself.
 
Conversations make me concerned that a low isn't in. Market is not usually so nice as to give out so little pain (relatively speaking). Further downside to shake the Alex's out yet I think.

On the other hand yesterday was impressive and had all the classic signs of capitulation. Interesting to see how this plays out in the next few weeks. No strong down side moves and a sideways to drift lower market would give me some confidence.

Returns very high along with risk right now. I will wait until returns still very good but risk has dropped off a lot. Time will tell
 
Does anyone have any idea what fuelled the rally? The biggest turn-around I and possibly many others have seen. Bernanke says rates will not move for 18 months or so .. which I would have thought was a damming indictment of the US economy, or at least his view of it currently. The dow immediately sells off for an hour or so, then takes off and heads for the heavens, possibly following the bond market??.

Before I get castigated by the masses and get told not to worry about the reasons and just trade the charts, what you see etc, that is what I do, I am merely curious about what actually inspired it, (PPT and other American conspiracy theories aside).

Personally for my longer term trading I am standing aside to see if there is enough fuel in the tank to mantain the run or if it was a last powerful sputter before the tank runs dry.

Good trading to all, which ever side you dress ...

Cheers
............. kauri
 
alexc2005 said:
My emotions towards the sharemarket are as much a rollercoaster as the sharemarket itself.
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That's because you have no plan or idea of where you are going so every-time the market swings so do your emotions.

Might be time to sit out and educate yourself?
 
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