Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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VSntchr said:
For now it seems. This afternoon may be a different story :eek:
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Maybe, want to see what happens when all of Asia is online, could be interesting.

tech/a said:
Turn
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Yeah, got burnt a little by the strength this am but got a good part of that turn down so might just watch now till HSI opens.

Also took some short term positions in CBA,BHP and WBC just after open so will see how that plays out.
 
Muschu said:
Seems to hovering between 40-55 down.

When do Asian markets open?
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HSI (Hong Kong) opens in about 30mins. If that rallies hard like the SPI did could be interesting but if it doesn't we could give back that 50 points.

Edit: Futures starting to really roll over now.
 
Futures in the green now, these conditions are unbelievable.

I've struggled a bit today, on the wrong side of the SPI early and managed to get it back, then on the wrong side of the HSI early and managed to get that back. Up for the day but have blown a few good opportunities:banghead:.

So I think I'll pack it in for the day.
 
WOW

Same here 4s but down a bit.

Had a long at 4062 and the market blasted through the stop limit.
Really Peeved off!

Keep hearing Radges words.
"Dont be a Dick for a tick!!!!"
 
tech/a said:
WOW

Same here 4s but down a bit.

Had a long at 4062 and the market blasted through the stop limit.
Really Peeved off!

Keep hearing Radges words.
"Dont be a Dick for a tick!!!!"
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Agreed on WOW! A rocket just fired under the ASX...

On the back of a jump in unemployment to 5.1%? :eek:

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Picture of Tech/a after the market blasted through his stop limit...
 
No doubt in my mind that there is a fair amount of irrational speculation going on in the market at the moment. Such volatility is wonderful for day-traders who know what they are doing (and even then, it would be difficult to follow all the swings and roundabouts at the moment) but for long-term investors, it's a difficult market to invest in presently.

Just my :2twocents
 
Yeah Tech, I'm up for the day but had to claw back a bit, got a bit of a headache today as well. I've shut my platform down now and might go do some real work.

At least my trades on BHP, CBA and WBC are looking good for the moment.
 
The blue coat is saying

" I'm getting the **** out of here, but at a time of my choosing, in about 25 minutes time.

gg
 
i now beginning to feel that an Aussie version of PPT (US plunge protection team) is
busy working behind the scene.
we'd been wrong footed..;-(
 
All Ordinaries vs the DOW Jones Industrial Average over 5 years.

Looking at the chart below (XAO vs DOW over 5 years), the relative "strength" of the Aussie market in recent days could just be mean reversion, i.e. the XAO and the DOW could become more closely correlated again soon, after a period of divergence since late 2010. Also, the Aussie dollar has weakened against the U.S. in the past couple of weeks, so the apparent "strength" of our share market in dollar terms doesn't mean as much in "real" terms. I don't think exchange rate fluctuations explain the extent of the recent XAO vs DOW divergence shown on the chart below, but they would have contributed to it.

So I'm still pretty bearish - finding reasons to be skeptical about the strength of the XAO. But I see that Radge is calling a "significant low" http://conta.cc/pWCNpA. Interesting times...

XAO vs DOW 5 years.png
 
We are on a roller coaster today.

Twists and turns.

Very interesting.

I'm learning a hell of a lot from this.

Never before did i follow what the DOW did, never did i keep an eye on ASX 200 futures.

This will be a good thing for me in the long run :)
 
nomore4s said:
Futures in the green now, these conditions are unbelievable.
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And just like that we are 50pts off from the top.

My guess is that the overseas instos who sold out last night deploying their cash into emerging markets and those connected to them. Taiwan is up 3% or so which usually indicates offshore funds flowing.

I am at a lost today and so not a lot of trading for me.

Now QBE needs to make some announcement soon surely.
 
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