Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

Regardless of the con, just as a general question - who agrees the Harry Dent vision?
I don't think this bloke has any credibility at all. He was the guy that predicted 40,000 on the DOW:eek:

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Demographic trends guru Harry S. Dent is making the rounds again, and touting his latest book, The Great Depression Ahead: How to Prosper in the Crash Following the Greatest Boom in History ...." In his 2006 work, Dent predicted, “The Dow hitting 40,000 by the end of the decade, the NASDAQ['s] advancing at least ten times from its October 2001 lows to around 13,500, and potentially as high as 20,000 by 2009 … The Great Boom['s] resurging into its final and strongest stage in 2007, and even more fully in 2008, lasting until late 2009 to early 2010.” Of course, those who read The Roaring 2000s, Dent's 1999 masterpiece, should soon be buying each of us a turkey with all the fixin's. According to the book, only a year remains before the Dow breaks 40,000 and the Nasdaq hits 20,000

Link Here: http://en.wikipedia.org/wiki/Harry_Dent

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He now also says:

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"Gold and silver are going to crash, they're a bubble,"

Link Here: http://smh.domain.com.au/tsunami-to-hit-australian-real-estate-20110911-1k413.html
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How are we looking for next week??? Get smashed Monday, strong rally Tuesday? Most likely not as strong a rally as last week... unfortunately.
 
Down day Monday providing there is no new significant news on the wire during the weekend. Tuesday? No clue.

DOW, DAX, FTSE and the HSeng took some pretty hefty dives.
 
DOW, DAX, FTSE and the HSeng took some pretty hefty dives.

DOW, DAX, FTSE all clearly channelling for mine...even with Fridays "hefty dive" they are all still above the bottom of the channel.
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The German and French markets are down 25% since the end of June and the UK down about 13%. Greece look out of trouble for now but Portugal and Italy line up next and it's game over for Europe and the Euro unless they get €2 trillion in the European 'bail out Bank'.
The PIIGS have a terrible monetary disease and there may be no cure.
The UK have said 'get stuffed' to more funding and Germany is still in for funding but the German people say no.
The AU$ is tanking now with Canada as resource stocks are ditched from the menu. Mind you, more profit on commodities priced in the US$ (providing the US$ price doesn't fall anymore) for Aussie resource stocks, so they are worth monitoring if you're home based -- search through the carnage; though maybe it's still gold stocks to monitor. All very difficult isn't it.
 
DOW, DAX, FTSE all clearly channelling for mine...even with Fridays "hefty dive" they are all still above the bottom of the channel.
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That's true - they have as of late staved off the bottom. Lets not forget that the DAX tested 5300, failed, and fell to 5000. As of late they got themselves back up and managed to stay up above the 5300 support.

Here's a question; what is the most likely scenario to come out of EU? This situation is not going to go away and the entire world is hinging on what happens to the EU and US debt...

Bernanke should get off his ass and announce QE3 - but even then! is it REALLY going to fix the issue on the long term? I don't think so.
 
DOW, DAX, FTSE all clearly channelling for mine...even with Fridays "hefty dive" they are all still above the bottom of the channel.
~

Continually lower highs since July looks a bit ominous to me.

To improve it will take a big move to the upside but a tick down from here would be without much support to Dow 10,000 IMV.

How much more bad news will it take ?
 
What does the chart tell us?

Trend down

What do we know?

The world is flowing in a sea of debt and there is no solution other than countries/businesses and people taking a hair cut and feeling the pain.

Until there is change in the indebtness of the world can you see the trend changing?

I cannot, so short the bounces and buy the sell offs but hold for long (at current a week) and get burnt.

All in all, life is one big game and so are the markets. It will all work itself out.

Enjoy it.
 
September was a shocker for me.

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...

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.

1. Don't ditch your enthusiasm for au/Ag miners just yet chap - the fat lady hasn't started to gargle, let alone sing.

2. Reassessment of one's longstanding investment approach at regular intervals is a sign of realism in an otherwise surreal market & global economic landscape.

3. I propose to this thread the adoption of Pippa/Pipa as Official ASF Mascot

4. Did Pippa/Pipa 'spew' any discernible shape or linear expulsion which might be interpreted as market 'tealeaves' and if so, on the basis that she appears to have now recovered, may we assume that contrary to the vein of this thread the general medium-term trend on the ASX will from herein on be upwards?

5. o/t - If you have any morphine left can I make you an off-market offer for the remainder (since it appears that I might have plenty of time on my hands, perhaps at least until late November, to 'tune out, turn off & bomb' pending any expected resolution on EU debt or the much-welcomed demise of The Bernank/JP Morgue/Rothschild merry-go-round)?

VRS ;)x
 
1. Don't ditch your enthusiasm for au/Ag miners just yet chap - the fat lady hasn't started to gargle, let alone sing.

2. Reassessment of one's longstanding investment approach at regular intervals is a sign of realism in an otherwise surreal market & global economic landscape.

3. I propose to this thread the adoption of Pippa/Pipa as Official ASF Mascot

4. Did Pippa/Pipa 'spew' any discernible shape or linear expulsion which might be interpreted as market 'tealeaves' and if so, on the basis that she appears to have now recovered, may we assume that contrary to the vein of this thread the general medium-term trend on the ASX will from herein on be upwards?

5. o/t - If you have any morphine left can I make you an off-market offer for the remainder (since it appears that I might have plenty of time on my hands, perhaps at least until late November, to 'tune out, turn off & bomb' pending any expected resolution on EU debt or the much-welcomed demise of The Bernank/JP Morgue/Rothschild merry-go-round)?

VRS ;)x

Hahaha

I kept SVL and NAV. But pretty much dumped everything else I had - BHP, MIN, WOW, AYN and stupid BTU which really went balls up.

The official spelling is Pipa. I always wanted two P's in her name but Lisa insisted it would be spelt with one P. Pipa is fine after doing that weird looking blue chunky textured spew.

The vet did give us some extra morphine, Unfortunately, it's all gone as we gave Pipa the rest in oral form the next morning.
 
Should he? What do you think would be the result of that?

A quick bounce in the market while the smart money seeks to stave off inflating their cash investing into physical gold. The Benifit to VRS being the increase in Gold price hence near term producers and junior goldies stand to increase profits.

If QE3 is an end solution, why didn't QE1 work? It is a bandaid measure not a cure - I think everyone knows this as common knowledge.
 
A quick bounce in the market while the smart money seeks to stave off inflating their cash investing into physical gold. The Benifit to VRS being the increase in Gold price hence near term producers and junior goldies stand to increase profits.

If QE3 is an end solution, why didn't QE1 work? It is a bandaid measure not a cure - I think everyone knows this as common knowledge.

The thousands that LostMyShirt might make from the deal probably won't justify the trillions the USA will waste.
 
Man this is crazy to watch. I can't imagine what GFC1 was like.

Tis a very dangerous game indeed at the moment for the inexperienced.

Mind you if i had of acted on my gut i would have been well in the green by now. But it's much easier to say that than to actually do it!

Predictions for the week? The All ords aren't even that low yet the stocks i follow seem to be trading at much lower than when it went to 3800, i guess they just couldnt cop the constant chipping away at the share price. Banks are still strong though?
 
Man this is crazy to watch. I can't imagine what GFC1 was like.

At least 2 or 3 times as bad as now....for example.

Here's a thread from that time discussing the GFC phenomenon of stocks trading with Market caps lower than their actually cash backing (cash on hand) hard to belive but it was common, especially for ultra and small caps.

Companies with cash backing above MC, November-2008
www.aussiestockforums.com/forums/showthread.php?t=13442

Interesting to note that as far as i know most if not all stocks mentioned in that thread went on to trade at prices 100 to 500% higher over the following 12 months.
 
A quick bounce in the market while the smart money seeks to stave off inflating their cash investing into physical gold. The Benifit to VRS being the increase in Gold price hence near term producers and junior goldies stand to increase profits.

If QE3 is an end solution, why didn't QE1 work? It is a bandaid measure not a cure - I think everyone knows this as common knowledge.
That was the point of my asking you the question when you suggested Mr Bernanke should get on with more of the same.

The thousands that LostMyShirt might make from the deal probably won't justify the trillions the USA will waste.
Exactly.
 
Hard to see an All Ords run up to above 5000 points at the moment but it will happen. :)
 
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