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The official "ASX is tanking!" panic thread

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Interesting 1st hour today...a bit unexpected I would say...though I still expect it to drift much lower...unless some new developments in the "news" area...
 
whitefang said:
Interesting 1st hour today...a bit unexpected I would say...though I still expect it to drift much lower...unless some new developments in the "news" area...
Click to expand...

Hurricane Irene and Hurricane Bernake are both scheduled to hit wall street tonight.

A Friday afternoon risk-off is definitely on the card imo.
 
Agree and to put my money where my mouth is, ive hedged my portfolio with an index short...even if its not today, or monday...I cant help but think that there is alot further to fall..

Things cud fly up if tonight bodes well for the bulls, but medium term the risks are all still present...
 
Hmmm....XJO has been in the 4200 area for almost 1hr ...time to break away...I thought for a long time it will break down to go another 30 points lower...now I have a few doubts and a small bounce from here is possible...
 
whitefang said:
Hmmm....XJO has been in the 4200 area for almost 1hr ...time to break away...I thought for a long time it will break down to go another 30 points lower...now I have a few doubts and a small bounce from here is possible...
Click to expand...

I'm not holding my breath. I can't imagine there will be a lot of action given Mr. Bernanke is going to talk tonight, anything could happen in the US. Closing positions ahead of the weekend is the action of the day IMO.

 
tech/a said:
http://www.telegraph.co.uk/finance/...rash-could-hit-within-weeks-warn-bankers.html

View attachment 44218

AHHHHHHH!!!!!
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Thanks for the link T/A. Very useful.
Just wondering how long this disconnect going to last with all these governments interventions. Last year exactly same time many analysts predicted a Sept/Oct meltdown, and here came QE2 and markets went happy for a long, long time. This time maybe the reaction to any stimulus may be subdued, but still can mask problems for a little longer. Let the markets free and then we all know what is going to happen
 
The scary thing is (I'm short at the moment) is that articles like this from the telegraph make me think that we are about to start the next bull run
 
Something kicked the DAX and CAC up pretty sharply over the last few days of rallying. Just corrected a bit last night.
The sudden reversal of Gold is interesting - less probability of financial chaos.

US isn't going into recession.
Germany soft quarter was just short term retraction maybe due to Japans disaster.
Oil isn't tanking.
Aus$ stronger.
Doesn't spell a market capitulation.

Last nights sell off possibly because people pretty much know nothing much will come from the Fed. There is nothing much needed from the Fed.
The machine just has to chug along as is.
Asia grows, we boom.
Au too high to be a real boomer for our market.
Bit boring really.
 
stu192 said:
The scary thing is (I'm short at the moment) is that articles like this from the telegraph make me think that we are about to start the next bull run
Click to expand...

Many fundamentals (with Europe's crisis at the top) would point to a revisit of the GFC's levels.
However, my theory is that Lehman's crisis is too fresh in people's memories and the financial leaders and politicians will do everything to avoid another GFC for the moment.
In a few years time, that is another thing...
 

Maybe maybe not.
Look how hard it was to get through the US senate.

Its becoming crystal clear you don't stop a Heart hemorrhage with a Bandaid even to the pollies.

Then again they could replace the Heart Hemorrhage with a Brain Hemorrhege and use 2 bandaids.
 
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