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The official "ASX is tanking!" panic thread

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On another note:

At 11:30pm EST tonight, the US releases its trade balance, initial jobless claims and continuing jobless claims data.

I'm not going to gamble on what this could do to the already volatile markets.
 

From Dante's 'Inferno',

In the midst of the path of my life
I found myself in a dark wood,
In which the right path was obscured.
I cannot express how hard it was
To find myself in this untamed forest,
So bitter and so tenacious was it
That the mere thought of it renews my terrors.

-Liar-
 
G-Zilla said:
scary that the fed's adrenalin shot rally lasted for a day... QE3 here we come.
Click to expand...

It wasn't an adrenalin shot. It was a placebo tablet and the market swallowed it, thought it worked for a second and now spit it back out.

notting said:
Lets just all default and start again. Tell China to f#$% itself.
Click to expand...

That is probably the only real solution at this moment. The notion of a EU-wide European bond is just a big joke. Don't we remember what happened last time we bundled up a whole bunch of $hitty assets and slap a AAA rating on top? It was called the sub-prime crisis.

And what's after Euro Bond? Planet Earth bond? Last time I checked the little green Martians didn't have cash to invest.
 
A while ago I saw an article showing how much debt each Euro country owed to one another.

Therefore to reduce debt levels why can't all the countries that owe money to one another just cancel it out (the terms lenght of loan, interest rate may differ but hey there isnt really an alternative).

I.e. say Italy owes span $15bn but Spain owes Italy $10b

Why not just change it to say Italy now only owes Spain $5bn.

Do that throughout the whole Euro zone and everyones debt gets reduced. As a result interest payments come down saving each country money every year which can be put into further reducing debt.

P.S. talking public debt, not private debt where a Spanish Bank has lent an italtian some money to build a house.
 
This is really interesting to watch.

It seems the 500 point drop on the dow didnt have the effect it had the other day. I think monday was a 600 point drop?

Maybe people aren't as scared as they were?

It's really quite interesting to watch.

Have fun taking advantage of these volatile times people!!
 

Looks like all the panic selling has been done for now.
 
opened about 2% down..

and now market is pulling back?? alot of buyers over sellers on a few stocks..

interesting.. how is the asx pulling back??
 
Maybe all the people who panicked in the summer of 2009 have decided that company balance sheets are much more secure and are getting back in.
We have also underperformed for about 6 months.
Get the Ausi $ down and where ripping.
 
notting said:
Maybe all the people who panicked in the summer of 2009 have decided that company balance sheets are much more secure and are getting back in.
We have also underperformed for about 6months.
Get the Ausi $ down and where ripping.
Click to expand...

Those people would be smart people!

I'm happy watching and learning for now
 
notting said:
Maybe all the people who panicked in the summer of 2009 have decided that company balance sheets are much more secure and are getting back in.
We have also underperformed for about 6 months.
Get the Ausi $ down and where ripping.
Click to expand...

possibly..

it appears we have ignored the dead cat in the US ..

top up on strong companies with strong fundamentals...??

i think im going to be a spectator today .. i think we all know the dramatic difference in how the asx has opened compared to how it closes in the past few days.
 

Usually closes higher than what it opens at from the past few days?
 
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