Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

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On the topic of measures suggested to try and get Europe out of the financial poop,

http://www.abc.net.au/news/2011-09-29/ec-president-calls-for-banks-tax/3034774

Banks would simply pass it on to account holders as Australian banks did with their pre-GST bank taxes. It's just another way for governments to hit their taxpayers.

Where interest rates are at or near zero, depositers may be better off shoving it under the mattress. No wonder the US and UK arn't too keen.
 
Chasero said:
^

1, I don't believe in indexes

2, or being 50% one way or another,

3, I believe in changing my strategy as news unfolds. If I think CBA is going to dive below 40 of course I'm going to sell it.

4, My gut says it's a lot more likely to dive then it will be to hold this stock in the current market.

5, I don't want the extra stress.

6, Of course, first rule of trading is to never try to predict the markets. But the news is just too overwhelming to ignore.
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1, Why, averaging into a market index has prooven an easy way to earn a satisfactory return over time, even if you averaged into the market during the great depression you still would have earned a healthy 8% return.

2, why not, it makes sense for a novice not to be 100% in anything, and By being 50% cash 50% stock it would allow you to have the cash available to continue buying into any falls, So you would not be fearing falls you would be hoping for them.

3, when you say news do you mean the headlines on CNN etc, or actual company annoucements. You need to look passed any "Noise" and try and focus on facts, and how these facts are likly to affect the underlying companies. In another thread you named the reason you hold your stocks, and they are all long term fundamental reasons, Trying to make money short term trading using long term fundamentals will give you poor results.

4, So why did you buy it if you felt that way, The market will change it's mind on the future outlook 10 times before the end off october, trying to second guess it is crazy, So people have the skills, some people will do it by accident and alot of people will lose or waste money on trasaction fees trying to guess what every one else is doing.

5, So don't stress then, Establish a system that suits your temprement. More money has been made and kept by those operating systems that suit their personality than those that try and operate systems they are not emotionally cofortable with.

6, If you can't ignore it then you need a system that does not rely on you making rational decisions when your clouded by market noise, hype and fear.
 
LostMyShirt said:
Short lived gains, lol. What we gained two days ago has been eaten up as of this morning :p
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Markets will fluctuate, who cares.

These crashes are not to be feared, you will make more money over time if markets fall from every now and then than you would if they just stayed the same and increased 1 or 2% per year.
 
lenny said:
If you buy now, and Aug 9th lows break and market falls another 500pts i'm sure you'll care then. lol
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No I wouldn't care.

I Buy shares regularly, and If they market had another big fall it would excite me, not devastate me.

The Only thing that I look at is the outlook for the companies businesses long term, Not whether their price my rise or fall in the short term voting.

I actuallly have put option contracts open on 4 companies (including CBA @ $37 and BHP @ $25) If those dropped to that level and were exercised I would be happy, I have $30K in cash now and by the time the options expire I will probably have another $30K in savings + if needed can use a loan facility I have to exercise, If they are not exercised I have collected a decent premium, So I am Happy either way.

Part of me is actually worried that the market will recover with out me buying any stock at these low levels, Because all I have done in the last couple of months is sold put options and collected about $5K in premiums and I have been sitting on my cash incase my puts get exercised and if the stockmarket recovers without them being exercised i would have missed an opportunity to deploy some cash.
 
Not a bad finish on the DOW last night, but lower high still in place.

SPI closed +21 as usual probably get a fade being Friday.
 
I love the Friday night Germany tank session.

Incredible that the DAX being down 2% so far tonight looks like a small movement. Does that mean when there is a big movement there is a BIG movement?

I own no shares and yet I can't help but feel concerned.

Happy Octoberfest.
 
September was a shocker for me.

I keep a diary and have made a commitment to post an entry when I buy/sell, and post the odd observation. At the end of each month I'll post my position where I compare it to the asx. I'm procrastinating about doing it now.

My reliance of gold/silver mining got me undone and I got stopped out on quite a few stocks. Towards the end of the month I threw my trading scheme out the window and took some big punts on TVN, which thankfully paid off. But that wasn't enough to beat the asx.

On top of this I got two speeding fines within a two week period (The last one I had was 3-4 years ago)
Took my my jack russel, Pipa, to the emergency vet on a Sunday a few weeks back - $475 I couldn't believe it. She had an injection of morphine. A few days later Pippa did this really weird looking spew and was fine after that.
 
LifeChoices said:
September was a shocker for me.

I keep a diary and have made a commitment to post an entry when I buy/sell, and post the odd observation. At the end of each month I'll post my position where I compare it to the asx. I'm procrastinating about doing it now.

My reliance of gold/silver mining got me undone and I got stopped out on quite a few stocks. Towards the end of the month I threw my trading scheme out the window and took some big punts on TVN, which thankfully paid off. But that wasn't enough to beat the asx.

On top of this I got two speeding fines within a two week period (The last one I had was 3-4 years ago)
Took my my jack russel, Pipa, to the emergency vet on a Sunday a few weeks back - $475 I couldn't believe it. She had an injection of morphine. A few days later Pippa did this really weird looking spew and was fine after that.
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Hope Pippa's feeling ok now.
I personally keep a running spreadsheet of all my buys/sells, with a formula to work out the net profit each time i close a position and a formula that calculates my total net profit/loss as a result of all my trades (currently in the green).

However, today I attempted to day trade LYC and got smashed. Worst day loss result yet. I'm only new to this trading game but today was a very expensive mistake that I will learn from.

Hope the figure you come up with after looking at this diary isn't too brutal ;)
 
skc said:
Short selling can be done with normal equities. You don't need to use CFD and there is nothing complex about it. It's not even a derivative. It's actually direct equity. Your broker borrow stocks from long holders in order for you to short sell. So if you want to blame short sellers you must also blame those long holders (which by and large are mutual and super funds who try to get that extra few bps on their performance) for lending their shares.
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I'm interested in how you define complex as in "nothing complex about it" lets say for argument sake that i have 100K worth of BHP shares...how would i actually go about lending them to a shorter for a few bps? what brokers provide this service?

Is there a form i need to fill out? can you link me to a site or 3? is there a market for owners of BHP wanting to lend there shares to shorters? im assuming there must be a fairly rigorous contract to fill out..i mean i wouldn't want to lend my BHP shares to some shonky operator that mite run away with my shares.

Can they run away with my shares? i would think they could because if they can sell them then they should be able to do almost anything with them...what if the broker i lent them to whet bust like Opes? what happens if the shorter my broker lent them to goes bust? can i get stock lending insurance?

So many question...thanks in advance for your answers.
 
So_Cynical said:
I'm interested in how you define complex as in "nothing complex about it" lets say for argument sake that i have 100K worth of BHP shares...how would i actually go about lending them to a shorter for a few bps? what brokers provide this service?

Is there a form i need to fill out? can you link me to a site or 3? is there a market for owners of BHP wanting to lend there shares to shorters? im assuming there must be a fairly rigorous contract to fill out..i mean i wouldn't want to lend my BHP shares to some shonky operator that mite run away with my shares.

Can they run away with my shares? i would think they could because if they can sell them then they should be able to do almost anything with them...what if the broker i lent them to whet bust like Opes? what happens if the shorter my broker lent them to goes bust? can i get stock lending insurance?

So many question...thanks in advance for your answers.
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Sorry I was referring to me shorting shares is nothing complex. My broker already has the shares borrowed (however complex or not complex that process might be) and I just enter a sell order... the exact same operation as if I was buying.

But to answer your many questions...if you want to lend out your BHP shares to shorters, Interactive Broker has recently offered this service to their clients. You can find more information here. http://www.interactivebrokers.com/en/software/pdfhighlights/PDF-StockLoanBorrow.php?ib_entity=llc

I rent out my investment property to some stranger. I needed to fill out a form, so did the tenant, they might trash my place, not pay rent, grow cannabis, start a brothel etc etc. I even had to buy landlord insurance by filling in more forms... I guess it's up to the individual to decide if that is complex or not.

Ves said:
Isn't he just talking about a covered call?
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Are you saying this just to pi$$ Wayne off?
https://www.aussiestockforums.com/forums/showthread.php?t=20747&page=1
 
skc said:
Are you saying this just to pi$$ Wayne off?
https://www.aussiestockforums.com/forums/showthread.php?t=20747&page=1
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My apologies, covered calls was the first thing that came to my mind when you said that they're commonly available.

As for short-selling; if you cannot make money on the long-side, there is no more chance of making it on the short-side.

edit: the only reason that I say that is because of the "stigma" of short-sellers in the market lately, as if they are "cheating" and have magical price control.
 
Another talk fest rip off merchant has been everywhere lately, all over the world this guy is pumping up his own tyres.
However, what he is selling seems to make a fair amount of sense.

However, usually when someone gets something right like predicting the GFC or housing crash they become legends for a year or two then get the next prediction totally wrong.

http://securethefuture.com.au/?gclid=CLSPgceQxqsCFapS4godgg-B1Q
Don't buy anything please. You get the drift from the spin video.
Never go to one of these conmenars!!!!!!!!!!

Regardless of the con, just as a general question - who agrees the Harry Dent vision?
 
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