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The official "ASX is tanking!" panic thread


This is just a ridiculous post. The writing has been on the wall for ages, people have had plenty of warning signs to pull capital out of markets and wait on the sidelines but people refuse to take a small loss and instead watch it turn into a massive loss. Been happening for 100+ years and will no doubt continue to happen.

Fundamentals mean nothing when the markets are pricing risk into the market, the chart show that we can go lower, hell we are still nowhere near the 2008 lows yet. But people seem to think that because a stock was $50 a months ago it must now be great value at $40 even though the world looks to be heading into a major recession that will have flow on effects to all economies and therefore earning power of all stocks.

Investing/trading is about timing and those patient enough to wait for the signs of recover to show are the ones that will make money, mainly because they will have capital left to invest.
 

In this environment the market prices risk not fundamentals.


Aah see Nomore4s has it covered above
 

Look you make a good point here and I agree with you however there is nothing rediculous about the post. I understand where you are coming from and agree partially - that is about it.
 
I am very surprised to see financials in the green... perhaps there's a bit of switching from materials to the fins from funds that stay invested.
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I suspect the market has gone from feeling unsure about financial contagion for the near term due to a little more certainty about manageable Greek default and bigger fund to handle the fallout, to now looking at a global recession - hence commodity smashing and financials stabilizing for today!!

If your feeling realy bad the answer is here - http://www.oprah.com/spirit/How-to-Turn-a-Failure-Into-Success LOL
 

My Oh My.

None are as blind as those who cannot see.
 
My Oh My.

None are as blind as those who cannot see.

Yes but Tech - no one can make a deduction and boast they posess the powers of certainty when they achieve 50% correct deductions... Also I am reffering to specific stocks and not the market as a whole.

My qualm is how it is a stock whose fundamentals are stong, is debtless and yet can take such large hits and turn-arounds to give but one example.

You cannot see the outcome and then critisize the deduction post outcome. Any side of the spectrum can do this - the only contingency is to manage risk - thats all...
 
Agree, everything is getting smashed atm, crude contract has lost nearly $3 since about 8am today.

My guess is it could be ugly tonight.

Silver down another lazy 15% or so.

And what on earth was the SPI doing in the last few minutes?!


You are being optimistic here. Shares actually went up for 2 days after Lehman. The equity market doesn't know how to price a Greece default.

If there is a mining bust (and looking likely) it might take a few months to filter through when we start to see shipment contracts being nulled, new drilling delayed etc etc. And if the mining money stops flowing, the property market will be in a world of pain, and the financials will not survive either.
 
This was playing in my head watching the browse today.

 
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And what on earth was the SPI doing in the last few minutes?!

Not sure as I was trading the HSI but by looking at the chart it might have been shorts covering into the close.

HSI is down over 700 points atm.
 
You are being optimistic here. Shares actually went up for 2 days after Lehman. The equity market doesn't know how to price a Greece default.

I was debating within myself whether to write recession or depression not too optimistic. Just commenting on today's moves.

Nice reminders about what happened after Lehman's however - could not remember that.
 
Everything has rallied a bit, at last. Still not a good lead into the overseas sessions though. Could be an interesting night.
 
Everything has rallied a bit, at last. Still not a good lead into the overseas sessions though. Could be an interesting night.

Silver now back up 10% to $30.

And the mandate of the Fed and ECB were.... price stability!

W.T.F.
 
So... September and October (no doubt) living up to it's reputation.

Just re-name these months to "never go long on shares"
 
Positive day tomorrow.
Think this will be a lengthy return to the positive.
 
Europe looked to have peaked for tonight. May be US will pick up the baton and run with it...Not so sure how it will pan out tomorrow. Commodities and precious metals are going crazy at the moment.
 
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