Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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tech/a said:
Greece cannot be allowed to default.
It has to be rescued.If it isnt rescued then
you will again see banks dropping like flies and
there will be a dominoes effect as those banks default in areas not associated with Greece.

Here are some disturbing figures held by banks relative to Greece debt.

Japan $500 mill
Spain $600 mill
US $1.8 Bill
Italy $2.6 Bill
UK $3.2 Bill
France $19.8 Bill
Germany $26.3 Bill
Others $15.7 Bill.

Get the idea?
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Greece total here is only $70-80B. As a comparison Lehman had $600B in assets when it went belly up.

Just let Greece go... the system will take a huge heart attack but they should have time to prepare for it. USD liquidity line was one, there might be others. There will be unintended consequencies but so does keeping it alive.

The question is whether there are enough political will...
 
Oh Greek banks hold $91 bill.
If Greece goes then enjoy your next trip there!!

Wont be pretty if it goes.
For any of us.

How do you think the Greeks would react if they don't get supported and have massive upheaval and Spain or Italy or France r Germany get help because they are more likely to cause a bigger problem?????
 
tech/a said:
How do you think the Greeks would react if they don't get supported and have massive upheaval and Spain or Italy or France r Germany get help because they are more likely to cause a bigger problem?????
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Who cares how they react? They were an insignificant part of Europe before 2007 and now they're a broke insignificant part of Europe.
 
All Ords down only 2.7%

Meh.... the cat will bounce for sure.

When it drops 5-6% (or more) in one day followed by a similar drop the very next day, THEN it might be time to worry your assets off.

:cool:
 
McLovin said:
It's of no consequence how they react. Let them go back to the Drachma rather than piggybacking a spend-a-thon on the back of German productivity.
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Don't disagree.
But if you don't think that will have repercussions within Europe to the negative side particularly in Greece then----

Then we can look at the Lira/Pesta/Franc/Marc
 
tech/a said:
Don't disagree.
But if you don't think that will have repercussions within Europe to the negative side particularly in Greece then----

Then we can look at the Lira/Pesta/Franc/Marc
Click to expand...

Sure it will, but you did say "how do you think the Greeks will react". It will have repercussions in the way any sovereign default has repercussions, the market will start picking at the stitching of the next weakest member.

The euro was a bad idea from the start (although great if you're travelling around Europe!). How a country like Greece (or Spain/Italy/Portugal) ever imagined they would have the productivity gains to be able to compete against Germany, France and the Benelux countries is beyond me. Even worse than that, to prop up those industries that were being screwed by the lack of competitiveness they issued debt in a currency they couldn't control.

Reap what you sow, I guess.
 
slightly off topic, but anyone know if there is any chance of sourcing live or 20 min delayed volume data for the asx 200 for free ?

I use comsec as a broker, unfortunately they dont have delayed volume along with the daily XJO chart.
 
tech/a said:
How do you think the Greeks would react if they don't get supported and have massive upheaval and Spain or Italy or France r Germany get help because they are more likely to cause a bigger problem?????
Click to expand...

Send in the Spartans and march towards Berlin?

What can they do?
 
Chasero said:
How do you go short? I only trade using e-trade!

I am thinking of holding it for 1-2 years more, maybe it will recover!?
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If you didn't pick the perfect spot to go long, what makes you think you can pick the exact spot to go short with any more certainty.

If you were planning to hold for a few years, and you had conducted enough analysis to give you confidence in the businesses long term outlook, why are you freaking out today.

In Investing emotions are your enemy, you need to approach the stockmarket with complete equanimity, rises should not thrill you just as falls should not upset you.
 
Tysonboss1 said:
If you didn't pick the perfect spot to go long, what makes you think you can pick the exact spot to go short with any more certainty.

If you were planning to hold for a few years, and you had conducted enough analysis to give you confidence in the businesses long term outlook, why are you freaking out today.

In Investing emotions are your enemy, you need to approach the stockmarket with complete equanimity, rises should not thrill you just as falls should not upset you.
Click to expand...

I am freaking out because this Greek crisis is never going to end!!!
 
Tysonboss1 said:
"this to shall pass away"

Every thing comes to an end, Every good day and every bad day. Every Bull rally and bear market end.
Click to expand...

Thanks, I think I needed that reassurance today.

Now can someone please threaten to bomb Greece unless they get their act together??

ONLY Jokes! (not really) :(
 
Chasero,
Learn about put warrants. pretty much the same as shorting (a bit riskier).....and can be done through all brokers, as it's just like buying shares.
 
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