Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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Does anyone really "know" ? There is so much banter, analysis and subtle commentary.

I, for one, do not "know"....
 
Well banks are down 8 % in Europe so that tells you something if you want to take notice.
 
I'm expecting him to drum up some confidence with policies on unemployement and job plans for the U.S.

I am LONG and optimistic!

Problems with Greece will all be sorted by end of September. No worries!
 
Chasero said:
I'm expecting him to drum up some confidence with policies on unemployement and job plans for the U.S.

I am LONG and optimistic!

Problems with Greece will all be sorted by end of September. No worries!
Click to expand...

Good for you
 
I'm expecting the XAO to test lows of 4,000 this week. Then back up to 4,300 and rising on Friday towards next week!

Just gotta hope for some positive data to come out - from anywhere really! Looks like Australian data isn't too bad (apart from the anz jobs report)! Hopefully the eurozone has some good news this September
 
Chasero said:
I'm expecting the XAO to test lows of 4,000 this week. Then back up to 4,300 and rising on Friday towards next week!

Just gotta hope for some positive data to come out - from anywhere really! Looks like Australian data isn't too bad (apart from the anz jobs report)! Hopefully the eurozone has some good news this September
Click to expand...

The ABS may be announcing that we are technically in recession on 7 September?

http://www.abs.gov.au/ausstats/abs@.nsf/mf/5206.0
 
It seems we will go through 4100 tomorrow which would indicate that there will most likely be another leg down!

That US employment chart a page back was pretty interesting.
It looks like employment in the US has recovered!!!!
It may correct down a little now and then stabilize.
This basically means the new normal is around 10% unemployment provided there is no further USl contraction :eek:

Obama's speeches have always had a decidedly shallow ring to them in my experience
and seem to be becoming more vacuous in the face of the dire reality handed to him. "Real Change" - Do people really still fall for that?
Obama's speach is just another story for the press to make some mile stone of.

We just need the German voters to look into the eyes of doom and decide that Euroland is a better option.

Surely the the AU is not going to just float over all of what seems to be erupting.

Bank of America must be close to a screaming buy even for an Ausi.
Buff liked 5% of it about 15% ago!! Just have to let it finish falling I suppose.
 
notting said:
It seems we will go through 4100 tomorrow which would indicate that there will most likely be another leg down!

That US employment chart a page back was pretty interesting.
It looks like employment in the US has recovered!!!!
It may correct down a little now and then stabilize.
This basically means the new normal is around 10% unemployment provided there is no further USl contraction :eek:

Obama's speeches have always had a decidedly shallow ring to them in my experience
and seem to be becoming more vacuous in the face of the dire reality handed to him. "Real Change" - Do people really still fall for that?
Obama's speach is just another story for the press to make some mile stone of.

We just need the German voters to look into the eyes of doom and decide that Euroland is a better option.

Surely the the AU is not going to just float over all of what seems to be erupting.

Bank of America must be close to a screaming buy even for an Ausi.
Buff liked 5% of it about 15% ago!! Just have to let it finish falling I suppose.
Click to expand...

Mate you have so much optimism, if you distribute it to the global economy we might just have a full recovery by years end :D
 
Don't forget the German Constitutional Court rules on the legality of the EU bailouts on Wednesday. I wouldn't want to have money in the market if they rule that the bailouts are illegal......
 
Chasero said:
I am LONG and optimistic!
Click to expand...

You are long, then optimistic, and you hope for the facts to fall your way.

What you should do is look at the facts, form an attitude then place your bets.

You have your thinking in all the wrong order.

Chasero said:
Problems with Greece will all be sorted by end of September. No worries!
Click to expand...

Yes. Greece would default by then and it will no longer be the problem. Too bad that the cancer would have spread to the other PIIGS.

notting said:
Bank of America must be close to a screaming buy even for an Ausi.
Buff liked 5% of it about 15% ago!! Just have to let it finish falling I suppose.
Click to expand...

Buffet didn't buy BofA common shares, he bought special class preference shares with 6% cumulative interest and seniority over the common shares, with attaching free warrants. I would buy that too. The fact that he DIDN'T buy the common shares tells another story.

I didn't use to dislike Buffet, but when he lied thru his teeth in making that "investment" in BofA... it was pretty despicable.
 
skc said:
Buffet didn't buy BofA common shares, he bought special class preference shares with 6% cumulative interest and seniority over the common shares, with attaching free warrants. I would buy that too. The fact that he DIDN'T buy the common shares tell another story.
Click to expand...

Not like he has a huge vested interest in trying to stop the rot is it.
 
.....back to the Title subject...

Overnight euro slump -

DAX -5.28%
STOXX 50 -5.11%
FTSE MIB -4.83%
CAC -4.73%
FTSE -3.58%

US DOW futures -203pts

AUS SPI200 futures -52pts

Have a nice day

:)
 
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