Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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tech/a said:
So down grade announced all good in the USA
Problems solved.

NOTHING is being done to solve USA or EUROPEAN debt.
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This debt has been around the USA neck for a long time yet they still managed a solid bull run 2003 to 2008 and a decent bounce from the abyss afterwards. Agree the longer term outlook isn't rosy. That is the reality.
 
Wysiwyg said:
This debt has been around the USA neck for a long time yet they still managed a solid bull run 2003 to 2008 and a decent bounce from the abyss afterwards. Agree the longer term outlook isn't rosy. That is the reality.
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Yes true but NOW congress only JUST got refinance through agian BUT hasn't fooled the economic world.

There will be bullish runs and bet your life the large instos will be un winding positions at every opportunity.

Until clear evidence of debt reduction is seen in both USA and EUROPE new highs are just an optimistic dream.

No one seems to have an answer to debt.
USA
GREECE
SPAIN
ITALY
Or anyone else reducing debt.
 
Interesting analyses and views over where the economy may be heading over lengthier time frames.

Others are reminding all and sundry how they got it right -- bit unnecessary imo.

Has anyone specifically indicated what they think will happen at tomorrow's open, during the day and by the end of the week?
 
Muschu said:
Has anyone specifically indicated what they think will happen at tomorrow's open, during the day and by the end of the week?
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Suspiciously enough the DJIA Cash is up 53 points from the close of 11444 at 11485 while my short stop was (moved out just now) at 11484. :mad: Got a feeling brokers want some stops tripped before descent.

I know the thieves well.
 
I am not sure that the downgrade means that much considering that the other ratings agencies have not downgraded the US and further look at the record of the Standard & Poors in the GFC1 they got it completely wrong. What sort of judge are they anyway.

For me the US is not the biggest problem out there as of course they can print their way out of this crisis if it comes down to it.

Europe is where the real trouble is and that is where our main focus should be going forward.
 
This is not about debt, it's about corruption which has caused debt. Fortunately Australia ranks fairly low on a world scale, in terms of corruption.

My prediction: XAO roughly sideways until next year; other world markets to get smashed. 2012 Chinese corruption will be uncovered in big business and government, and another Tianenmen Square will ensue, this one much more bloody. Government overthrown and democratic rule instated. This will mark the bottom of the world depression.

Cheery huh? :)
 
tech/a said:
Until clear evidence of debt reduction is seen in both USA and EUROPE new highs are just an optimistic dream.
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Yes but the markets have had their significant drop already so don't be SURPRISED if there is a rally from here.
 
Wouldnt surprise
But if a lower low isn't made in a couple of weeks
I'll be very surprised
 
tech/a said:
Wouldnt surprise
But if a lower low isn't made in a couple of weeks
I'll be very surprised
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Well this view is certainly optimistic and it aint a forum post.
Wall Street has never been more sure that the Standard & Poor’s 500 Index will rally in 2011, even after speculation the U.S. economy is heading for a recession prompted the biggest plunge since the bull market began.

Chief strategists at 13 banks from Barclays Plc (BARC) to UBS AG (UBSN) see the benchmark measure of American equity surging 17 percent through Dec. 31, the average estimate in a Bloomberg survey. Their projection that the index will reach 1,401 hasn’t budged in four weeks, while mounting concern U.S. growth is slowing drove the S&P 500 down 11 percent since July 22, including yesterday’s 4.8 percent tumble.
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Wysiwyg said:
Well this view is certainly optimistic and it aint a forum post.
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Phew! That's a relief! It sounds like everything is going to be A OK then! We know we can rely on those American Banks to know which way things are headed, can't we?

After all those banks proved their superior financial/economic mettle when they wrote up all those wonderfully sustainable loans (sub prime etc.) during the past couple of decades. So we can definitely count on them to know what the future holds, right?!
 
cynic said:
Phew! That's a relief! It sounds like everything is going to be A OK then! We know we can rely on those American Banks to know which way things are headed, can't we?
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Time will tell and I will mark this post for the future. In my experience it isn't what the masses think that happens. In other words the masses follow and not lead.
 
Kauri said:
Have I missed something?

Cheers
.... Kauri
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:D:eek::eek::confused:

Lazarus has returned ... lol

a) Enjoyed your posts previously:D
b) I have improved my trading substantially in your absence ;)
c) Are you back for long :confused:

Welcome back.
 
Man oh man - what a week to be away for! I'm a bit overwhelmed by the good cheap stocks to buy.

Is anyone else thinking that the potential for another recession means oil and gas are now a bad bet?

Apart from that, does anyone give weight to the theory that last week was a result of some sort of leakage/corruption between S&P and hedge-funds who got wind of the US downgrade before it happened?

Could the downgrade possibly be priced in, or will the market dive again on open tomorrow?
 
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