Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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nomore4s said:
Nice rally into the close. Interesting to see what happens tonight now.
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Another rollar coaster day. The vertical axis of my chart has a range of 120 points these days so a small 25pt movement "looks" like nothing. 30-50pt swings occur in a matter of hours (or minutes).

On days like these I wish I am a futures tape-reader.

Based on absolutely nothing but reverse psychology... the US should tank tonight...
 
I recon the DOW will open up ever so slightly in the green. I haven't seen any news today that may cause a shakey ride on the DOW. Then again, I've never been good at picking these things lately.
 
skc said:
Another rollar coaster day. The vertical axis of my chart has a range of 120 points these days so a small 25pt movement "looks" like nothing. 30-50pt swings occur in a matter of hours (or minutes).

On days like these I wish I am a futures tape-reader.

Based on absolutely nothing but reverse psychology... the US should tank tonight...
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Turned into quite a good rally, put on about 50 points in the last hour and a half which for the SPI is huuuge, didn't get any of it though as I tend not to trade the SPI after the first hour as I find it too hard to read accurately.

Had a good day on the HSI though.
 
nomore4s said:
Turned into quite a good rally, put on about 50 points in the last hour and a half which for the SPI is huuuge, didn't get any of it though as I tend not to trade the SPI after the first hour as I find it too hard to read accurately.

Had a good day on the HSI though.
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Want to compare P&L again? :p
 
LostMyShirt said:
DAX, FTSE and DOW came out roaring today. Should reflect nicely on our markets tomorrow morning.
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Globally coodinated liquidity bailout...

It helps but it's not a cure. Blood transfusion doesn't cure cancer...

How long with this last? I can see SPX retesting 1250, but a bit harder to see XJO going to test 4500 which is the cliff that we fell off from.
 
LostMyShirt said:
DAX, FTSE and DOW came out roaring today. Should reflect nicely on our markets tomorrow morning.
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Another strong open tomorrow ? followed by another pull back in the afternoon ? Can imagine a lot of people will want to be closing positions at the end of tomorrow.
 
RandR said:
Another strong open tomorrow ? followed by another pull back in the afternoon ? Can imagine a lot of people will want to be closing positions at the end of tomorrow.
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I don't know about a "stong" open - I just expect to close out with gains, rather than in the red.

Skc - definitely not a cure, just helpful for those with long positions. Gold price on the decline, looks like some investor confidence has returned, for now...
 
Europe is holding up so far - a good 2 - 3% gain on the asx on Friday would go down well.

If I'm back at the same point I was last Friday, I'll buy myself a shandy.
 
RandR said:
Another strong open tomorrow ? followed by another pull back in the afternoon ? Can imagine a lot of people will want to be closing positions at the end of tomorrow.
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Agree. There will probably be a strong open which will falter early afternoon then really fade after 2:30pm. It's Friday.
 
Weak open so far, not a good sign.

SPI was only about 45 points up from yesterdays close and the last 3 times we have only been up under 50 points after a strong night on the DOW our market has been very weak the next day. And with such a weak opening today it isn't looking good atm, Aisa could be drag us higher if it opens strongly but if Aisa is also weak today........
 
nomore4s said:
Weak open so far, not a good sign.

SPI was only about 45 points up from yesterdays close and the last 3 times we have only been up under 50 points after a strong night on the DOW our market has been very weak the next day. And with such a weak opening today it isn't looking good atm, Aisa could be drag us higher if it opens strongly but if Aisa is also weak today........
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Actually a bit of strength...

There's a bearish conspiracy theory out there that the liquidity facility is a preparation for a Greek default. If you look carefully the Greek bonds are not on the accepted instrument list (and for good reason), even though Ireland and Portugal bonds are.
 
What a ride!

I see the DJIA futures are already down 128 while the SPI has been steady at +8.

Any thoughts from wise heads on movements this week?

I'd go fishing but it's too rough there as well.

Regards
Rick
 
Muschu said:
What a ride!

I see the DJIA futures are already down 128 while the SPI has been steady at +8.

Any thoughts from wise heads on movements this week?

I'd go fishing but it's too rough there as well.

Regards
Rick
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SPI is down 25 points or so at the moment. New fears over the weekend about Greek default...

Apparently 20 Sept is a good D-Day. But that is offest by the potential of helicopter Ben turning into carpet-bomb Ben on 21 Sept.

http://www.zerohedge.com/news/september-20-greek-default-day

BTW take everything from zerohedge as the worst case scenario and add in your own dose of optimism / reality.
 
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