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The official "ASX is tanking!" panic thread

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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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Good to see someone is laughing NM4s:


At some point prior to the US open I think the retailers will be enticed to take on some more short positions .....

Then they will get the crap squeezed out of those short positions leading into the open ...

Then the Dow will drop 200-300 in rapid fire to finish the week ..... ready for a rise next week

A bit like the chart if it all goes as planned
 

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The rest of the markets in EU are on a soft note, except the Swiss market which has tanked quite a bit... I'm trying to figure out why...
 
There seems to be a confluence of events which seem to happening from today and into next week and they are:

1. Financial

Euro and US banks are on very shaky grounds and it would not be surprising if a couple of the large banks go under.

2. Military Situation.

It is reported that most militaries around the world are on heightened state of alert.

The Countries involved are all middle eastern countries including Israel which has called up its reserves in the last 3 days which is not a good sign. There could be a problem between Turkey and Greece in the Mediterranean.

On Monday, 26th September, it has been reported that the US Military will actually go on to a Defcon 1 Exercise and this was reported by the Russian Chief of Staff. It will happen when Obama is Denver.

Today in Denver, Fema and the US Military are conducting a joint exercise.

3. Celestial Events

There has been a lot of speculation about Comet Elenin on the internet. Apparently it will be between the Sun and the Earth on Monday, 26th September, 2011. The last time there was an alignment, was the exact day when there was an earthquake in Japan.

A research company called marketsdna.com is calling for the markets to fall through the floor on Monday 26th September, based on the Elenin Alignment.

Very interesting times for all of us in the week ahead.
 
LostMyShirt said:
The rest of the markets in EU are on a soft note, except the Swiss market which has tanked quite a bit... I'm trying to figure out why...
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Swiss hadn't been hammered to the same degree to this point ... just catching up.


Shorts being enticed on the Euro Indexes atm ..... (Dax and FTSE should turn prior to the US) The swings should be very wide tonight ........... the long play coming up shortly prior to US open later 2nite should be exponential
 

Yes, good point.

Does anyone have an idea of why Gold is getting hammered as well as the stocks? I thought that uncertainty within stocks drives investors to safe havens.
 
LostMyShirt said:
Yes, good point.

Does anyone have an idea of why Gold is getting hammered as well as the stocks? I thought that uncertainty within stocks drives investors to safe havens.
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Gold is considered a safe haven by the mainstream talking heads its actually not a big enough market to take any serious funds current safe haven is still US treasury issue.
 

There has never been a sovereign default without a war or military dictatorship........
 
Rally Tuesday anyone?

The politicians are scrambling to calm the markets! Bulls are going to buy next week I'm sure!
 
Wow the EU swung up some of those losses - the markets everywhere. The DOW seems to be lacking in volume. No conviction from traders - having fun on the sidelines I suppose...
 
I bought myself two of those air swimmers today - the clown fish and the shark. http://www.airswimmers.com

With gold and silver stuffed, I'm converting the few shares I have left in the market to cash and will watch on the sidelines while playing with my remote controlled fish. Hoping that this whole mess will resolve itself.

Good luck everybody.
 
The thing that has caught me out with this recent rout is we knew all these dramas existed 6 months ago when the ASX was heading towards 5000.

Back then the Greeks were stuffed, China was overheating, Japan, US, Europe had massive debt, politicians everywhere were useless....

What has changed? , What new information has come to light?

I thought to low point would come when the US congress debt ceiling standoff was being played out a couple of months ago and started investind accordingly. Nexy time I hope to show more patience to take advantage of the rollercoaster.
 
The market is a funny beast, when you are sure it is going to tank it will often surprise by going up.

Everything though points towards a collapse. A recovery depends on the Europeans going to work and actually working; the Americans pulling their heads in on debt, waste and militarism; and the Chinese behaving themselves by devaluing their currency, obeying trade rules and being good global citizens.

One or two is possible, but all three, I doubt.

gg
 
With the IMF now declaring they will support all and any debt issue in the Euopean union expect bullishness to return.

I also note they are strongly encouraging nations to put in place a CARBON TAX
As they have seen how amazing it can be to raise BILLIONS with no real cost to the government.It does nothing but raise massive funds.

What an amazing silver bullet!
 

What next?

An Oxygen tax?

Which will of course also apply to H2O.

How about a Bullsh!t tax? We could rake it in from politicians and bankers.
 
Somebody, supposedly in authority, out there says something positive and we get a "rally".

Another authority makes a more cautionary remark and we head south again.

Best to just watch I feel. [In my case anyway].
 
Muschu said:
Somebody, supposedly in authority, out there says something positive and we get a "rally".

Another authority makes a more cautionary remark and we head south again.

Best to just watch I feel. [In my case anyway].
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I thought the market was effient, ...... Ha, not likely
 
I agree with Wayne.

I know that we will soon pay for the air we breath - however at this time we are only paying for the air we breath out.

Yeah, Carbon Tax will raise billions - at the expense of the consumer. We get tax breaks? Why should we pay in the first palce?

Rick62; it is all just one giant game. Fear mongering while the big boys jump in make some money.
 
LostMyShirt said:
......... Rick62; it is all just one giant game. Fear mongering while the big boys jump in make some money.
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Of course it is a game and a gamble. I'm just not a player right now, that's all. If anyone here knows what's coming out of Europe this week then let then speak now and forever ...
 
Just finished reading the weekender.

What's the go with this G20 summit? Good news on the horizon?

Promises of bullish returns
 
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