Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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nomore4s said:
While remote, I wouldn't say zilch at this stage, going to depend on how Asia decides to play today.

The price action isn't as promising as I would have hoped, was looking so a stepping stone trend but so far the SPI keeps getting beat down at resistance at 3930. If we can break that area with the help of Asia we are a chance imo.
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I think we will rally a bit but probably close weak in the last hour or so. It is a Friday afterall.
 
skc said:
I think we will rally a bit but probably close weak in the last hour or so. It is a Friday afterall.
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I actually think if we rally strongly we could see a close around the highs, if we fade though it could be ugly.
 
Price action is not looking convincing atm. HSI opens in about 3 mins so we will see what that brings.
 
lol standard "nothing to fear", "no need to panic", "your super is safe longterm"... crap from the government on the weekend...

I think the poster who mentioned ASX dead and Gillard gone within the next little while are on the money.


Remember Greece or another hasn't defaulted yet! QE3 buy the end of year!
 
nomore4s said:
Arvo fade in, looks like you were right again:bowdown::p::D
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I had no idea what's going on today. I deployed, retracted and reployed the fail whale graphics about 25 times. And made a grand total of 2pts from trading the index. At least my pairs trade account went from -1% to +0.2%...

It was a different sort of volatile day that's for sure. Most industrials and financials turned pretty green after lunch, but the materials were still well down. Then as if someone remembered that Australia is in recession except for the miners and we rolled over again. Or, may be just that the calming effect from the G-20 statement has only a life of ~2 hours.
 
Hahahah, everything has gone nuts in the last 30mins.

HSI has put on nearly 300 points and AUD, Gold, Oil all rallying as well.

Green night overseas anyone?
 
nomore4s said:
Hahahah, everything has gone nuts in the last 30mins.

HSI has put on nearly 300 points and AUD, Gold, Oil all rallying as well.

Green night overseas anyone?
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Could be a bit of buying pressure in EU tonight since it tanked so badly yesterday there may very well be a fair amount of buyers - then again the selling may continue though one would think that the size of the drop yesterday would indicate sellers got all that excitment out of their systems.
 
nomore4s said:
Hahahah, everything has gone nuts in the last 30mins.

HSI has put on nearly 300 points and AUD, Gold, Oil all rallying as well.

Green night overseas anyone?
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By the time you finished typing, it has retraced half again.
 
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