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The official "ASX is tanking!" panic thread

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alexc2005 said:
Ah i see, you're looking to sell. My bad.

Thought you were waiting for an entry point.

So, overnight risk?'

If a 500 point drop in the DOW cant sway the ASX... I wonder what tomorrow will bring?
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Good question and my speculations are not even worh the paper they are written on - my wait and see attitude will cost me a heap, but my process of learning is sink or swim, no spectator status...
 
alexc2005 said:
Yeah i have been eyeing RED off for a while- Missed the boat now because i was scared by the fall.

**** happens..
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Now the hard part is wondering if it will go much higher, it should if the market stabilizes, or if the market remains volatile it may drop....then again everyone who panic sells seems to be deploying their capital into gold or gold stocks.....really wish I was a grog drinker right now.Need to chill out.
 
Maybe you should take a step back and figure out what has changed in the last week since before the markets went crazy.

I'm thinking not alot....further downside to come IMO...whether that means tomorrow..or next week..or next month...I have no idea... but I do think we are in a few some more selling....
 

The only thing I believe that has changed is that those who are panic sellers have panicked and sold (like myself) so hopefully if there is a drop it won't be quite as magnificent.
 
Maybe you should take a step back and figure out what has changed in the last week since before the markets went crazy.
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Whooops just fat fingered EQT.(It's a little one) Oh well might just have to put up with a half a 10% fully franked divedend in September if your right.
 

If i thought enough has changed for the market to be stable i would be buying.

I'm just watching and learning.

Although, tempted to sell some off before the real crash comes.
 
Whooops just fat fingered EQT
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Have invested in some COK so that I do it properly next time.
That really was just a coincidence but it's a Mchappy day.
 
alexc2005 said:
Although, tempted to sell some off before the real crash comes.
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Are you sure that you haven't fallen into the trap of confirmation bias? Ie. you have a preconceived result in your mind and you are only paying attention to everything that confirms that.
 
Ves said:
Are you sure that you haven't fallen into the trap of confirmation bias? Ie. you have a preconceived result in your mind and you are only paying attention to everything that confirms that.
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As in- I'm expecting it to crash?

I don't think i follow what you are trying to say.
 
Copper had a bad night last night.
Hope PNA comes back to me before the days out.
 
tech/a said:
The chart is self explainatory ---4s--- have a look at your HSI charts and see if you can see a correlation.
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The HSI and SPI don't generally have a to the minute correlation and on some days absolutely no correlation at all. But you will get similar set ups. My favorite is when there are 3 pushes into a low/high each time only just making new lows/highs(there is also other confirmation signals I use but won't go into that here) as this set up tends to signal a very strong reversal.

Your example is the sort of set up I look for among others as well. It's all about momentum especially with the HSI, you can get good trades trading with the momentum - especially if you can get on early from a set up like you described or getting on with the force that stops the momentum and sends it the other way.
 
Something Odd just happened; I have a conditional sale at $23 - I went for a smoke and came back to see my ticker graph say MQG surged to $23.40 at 3:03, but my sale didnt go through? Currently trading at $22.81... What is the go there?
 
Just out of curiousity - do you have to trade with Interactive Brokers in Australia to trade the stock market indices of the world?

Do you know of any brokers that have a demo account or "simulation" program that lets you trade live for longer than 14 days?
 
alexc2005 said:
Yeah PNA has been a bit of a dog for me lately.

Hopefully it comes good.

No where near as bad as OZL..
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Well if we stay flat or worse for two years, not sure how much OZL will be left at the rate it's eating it's little patch and throwing money at steak holders.
In that senario perhaps it could get a second chance to pic up Sandfire somewhere round $3.00 like it should have the first time instead of not knowing which way is up. Not a team I'm backing, though they will jump with the rest.
I think I'm suffering from buyers exhaustion and there's no safe confirmation we have even finished crashing.
That's not smart trading. But I'm investing, and it's part of my plan!!! However stupid it may be.
 
alexc2005 said:
As in- I'm expecting it to crash?

I don't think i follow what you are trying to say.
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Yes, in a nutshell. You are reacting emotionally, so you are only reacting to the "bad" or "negative" news that is confirming your view of a market crash. That is what I am garnering from your posts.
 
RexBudman said:
Something Odd just happened; I have a conditional sale at $23 - I went for a smoke and came back to see my ticker graph say MQG surged to $23.40 at 3:03, but my sale didnt go through? Currently trading at $22.81... What is the go there?
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Could be that the price gapped/spiked quickly and your broker wasn't able to execute at the higher price in time.
 
RexBudman said:
Something Odd just happened; I have a conditional sale at $23 - I went for a smoke and came back to see my ticker graph say MQG surged to $23.40 at 3:03, but my sale didnt go through? Currently trading at $22.81... What is the go there?
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Looking through commsec
 
Ves said:
Yes, in a nutshell. You are reacting emotionally, so you are only reacting to the "bad" or "negative" news that is confirming your view of a market crash. That is what I am garnering from your posts.
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Well.

Everytime i have a glintof hope it gets shattered in this thread.

As i am a complete Newb, i tend to trust experienced people like Tech/a etc.

So any expectations of a further crash i have, come directly from them.

Maybe thats silly of me, but to be honest. My technical analysis skillz are non existant.

Although, i think they have just been trying to make me think about things a bit more. Mission accomplished.
 

In it for the money eh?

Dw, im newb too - but there is no probability that during the course of your sink/swim stretegy for learning, that you wont pick up anything... I lost a heap of profits on RFE because I did not listen to the 50c price resitance, and rode the storm... needless to say 50 cents to 35 cents is a kick in the head....

Point here is, you are learning more everyday, as are all of us, no need to devaluate yourself...
 
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