Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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Still, doesn't make sensible sense why gold would rise and all other commodities fall. Gold's less precious in real terms.(Hmmm what to buy?)

Obviously that spells panic/opportunity.

As usual it will take longer than is first expected to calm.
Then longer again!

Elliot seemed to have abandoned the 5th wave and was looking at the alternate play yesterday. Might have changed his mind overnight. Seen that a bit.

Tech's call was spot on!! the "Wise would have been selling to the wise buying bargains," whilst Tiddles was chasing bears!

It will be interesting to see how the machines operate with the weakness of the Ausi dollar making our market more valuable relatively.

A little shopping today if it gets really exiting!
 
ferretbiter said:
"should I stay or should I go now? Should I stay or should I go now? If I go there will be trouble. If I stay there will be double. So you gotta let me know. Should I stay or should I go?".

There's trouble a brewin not sure, If I wanna be a part of the market.Might be pullin out.The cat looks like its about to plummet.
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I prefer "Riders of the Storm". :)
 
nulla nulla said:
I prefer "Riders of the Storm". :)
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I am saddened by the fact that the first time I heard riders on the storm was snoop doggs cover on Need for speed underground 2.Oh what could have been.

Hmmm currently holding RED (gold price increasing hells yeah keep this crash a'commin!) and BHP (oh dear ood oil price where are you going?!Come back to daddy!).Am currently confused and scared...good fun.:)
 
Aussiejeff said:
Shocking US data last night. Home sales tanking. CPI zooming. Philly Fed economic activity index sunk without a trace. Man the lifeboats!!! :eek:
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The Philly FEd -30 number was a 8-sigma event based on the consensus and std dev of Bloomberg's panel of economists. Just shows you what a bunch of group think economists they are.

http://www.zerohedge.com/news/scariest-chart-ever-philly-fed-versus-non-farm-payrolls

notting said:
Still, doesn't make sensible sense why gold would rise and all other commodities fall. Gold's less precious in real terms.(Hmmm what to buy?)
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All other commodities rise and fall because of underlying economic activities. Gold on the other hand isn't something you can price "fundamentally" imo.

But how long has gold been considered valuable to the human race? 2500 years? There is no reason for that to change now and certainly the chance of that changing at this time (as opposed to any other time of crisis over the last 2500 years) seems remote.
 
littleshire said:
Fasten your seatbelts everyone...:D
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And there you have it - XAO down 114.9 points ten minutes after open.

I am an intermediate trader, so these shorts arn't bothering me that much - still, seeing red isn't pleasurable... I'm just going to take the oppertunity to top up and decrease my entry point price.
 
NewTrade said:
And there you have it - XAO down 114.9 points ten minutes after open.

I am an intermediate trader, so these shorts arn't bothering me that much - still, seeing red isn't pleasurable... I'm just going to take the oppertunity to top up and decrease my entry point price.
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Due to shorts eh!!

I'm just going to take the oppertunity to top up and decrease my entry point price
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Great idea the only down side is increasing your losses.


L.gif
 
tech/a said:
Due to shorts eh!!



Great idea the only down side is increasing your losses.


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That is providing the market doesn't severely crash over the next few trading days.

My current holdings sway with the XAO, and are influenced by foreign markets. I am still confident on my target price though - I picked up MQG and though am down today I feel as if I will hit my $29 within 30 days.

Since you posted a Learners Plate I am going to assume you are implying that I am either a Loser or a Learner. So tell me, what would you be doing at this time? Holding, buying or selling short? In these kinds of market moves there isn't too much one can do...
 
KurwaJegoMac said:
Of course! It makes perfect sense to keep compounding an incorrect entry by buying more. While we're at it, we should be cutting our profits short to help cover our 'averaging down'!

/endsarcasm
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And again, what would your move be - I haven't hit my stop/loss yet and since I'm in for the intermediate term, this slight decrease is miniscule.
 
NewTrade said:
Since you posted a Learners Plate I am going to assume you are implying that I am either a Loser or a Learner. So tell me, what would you be doing at this time? Holding, buying or selling short? In these kinds of market moves there isn't too much one can do...
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Nice day for golf dude. I been cash for a long time, dabble a bit but mate, grab the bags and go for a swing.
 
NewTrade said:
That is providing the market doesn't severely crash over the next few trading days.

My current holdings sway with the XAO, and are influenced by foreign markets. I am still confident on my target price though - I picked up MQG and though am down today I feel as if I will hit my $29 within 30 days.

Since you posted a Learners Plate I am going to assume you are implying that I am either a Loser or a Learner. So tell me, what would you be doing at this time? Holding, buying or selling short? In these kinds of market moves there isn't too much one can do...
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Do nothing is a move. You don't have to buy or sell.

There are great underlying forces shifting the markets at the moment. The waves are going to be huge. If you are not a big wave surfer the least you could do is not go into the waves...
 
skc said:
Do nothing is a move. You don't have to buy or sell.

There are great underlying forces shifting the markets at the moment. The waves are going to be huge. If you are not a big wave surfer the least you could do is not go into the waves...
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Time for a meat pie and a tan - perhaps watching surfers trip off their boards will be entertainment enough.
 
NewTrade said:
And again, what would your move be - I haven't hit my stop/loss yet and since I'm in for the intermediate term, this slight decrease is miniscule.
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Your comments add support to the "L" meaning learner I suspect.

Waiting for your justification of why MQG will hit $29 in 30 days or is that just learners wishful thinking, either way I think you need to support statements such as that.

I am looking at sub $20 over a shorter time period based on a technical analysis projection of wave 5.
 

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Boggo said:
Your comments add support to the "L" meaning learner I suspect.

Waiting for your justification of why MQG will hit $29 in 30 days or is that just learners wishful thinking, either way I think you need to support statements such as that.

I am looking at sub $20 over a shorter time period based on a technical analysis projection of wave 5.
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30 days is very well an under-estimate - however yesterdays charts did make me feel confident about the target price. I am ameture in TA and yesterdyas charts made me feel as if the up-trend would continue, however todays charts are saying otherwise with the obvious down-trend. My justification is merely the charts - there is no concrete reason why I should recieve $29, and any reason I give is going to be non-concrete.

I will be holding these shares for the intermediate term or until my stop/loss has been hit of $23. If my theory fails me, well I guess that is just more education for me to recieve.

I saw this pattern last time with MQG, around the 8th - 9th of August, and I, in a panic, sold. So rather than panic and sell short of my entry, I'd rther wait, read the charts, take advantage of the stop/loss set and see where they head.

Again, I am going off patterns and nothing concrete. Hey, there could be a huge world wide Earthquake tomorrow - any theory would be shot in that instance. So again, nothing concrete.
 
NewTrade said:
I saw this pattern last time with MQG, around the 8th - 9th of August, and I, in a panic, sold. So rather than panic and sell short of my entry, I'd rther wait, read the charts, take advantage of the stop/loss set and see where they head.

Again, I am going off patterns and nothing concrete. Hey, there could be a huge world wide Earthquake tomorrow - any theory would be shot in that instance. So again, nothing concrete.
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Is something that happened once really a pattern?
 
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