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The official "ASX is tanking!" panic thread

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Things should be green ont he DOW's close tonight and can't comment on the EURO in totality however the FTSE may see some green as well according to the futures.

I hope Friday on the ASX is not in the red as it usually seems to do more often than not on a Friday...

News on my ticker has been slow - no news is good news
 
Too much excitement despite it only being at about the same level it was a week ago.
Have we all forgotten the fact that the DOW fell below it's August '11 lows just a few days ago? Or does that not matter anymore?

I think tonight/tomorrow night will be testing the resistance, and probably falling sharply after, probably Friday night as is usual for Europe these days. It might hold up OK for tonight. I wouldn't be surpised if it doesn't. I'd be very surpised if it pushed alot higher from here.
 

I agree with the entirety of your post. I think Friday will be yet another sea of RED for foreign markets as well...
 
After throwing my trading scheme out the window a few weeks back and bouyed by a couple of punts I took towards the end of September. I tried my luck at catching knives again, with quite unspectacular results.

Because of my ego I bought some EGO after the announcement, when they looked reasonably priced. But instead of going up like most other stocks did in the last two days they went south. I really don't want to hold them over the weekend.

I think the next month on holidays abroad, away from my 'puter is going to do me some good.
 
There was signal last night in the US which should put the bears away for the time being.

 
Markets moved into a very interesting juncture with a rally into the 50 day MA which is quite typical for bear markets.

A lot of gaps have been left behind on the major stocks that will need to be filled before the real leg higher.

NFP tonight reversal?
 
My take on it at the moment.
Until it gets above the 4500 area we are still in a (volatile) downtrend, some great opportunities to be had now if it continues up but I am not convinced that we have seen the bottom just yet until the area of resistance is overcome.

Just my but open to any opinions.

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I know 12 or so hours is an eternity - but am I right in that the DOW futures are marginally down for tonight?
 
Muschu said:
I know 12 or so hours is an eternity - but am I right in that the DOW futures are marginally down for tonight?
Click to expand...

ES is down 1pt so nothing in it really.

The NFP tonight might move the market. But unless it is really dramatically different to what is expected, I think the market will do what the market always does. i.e. choose and pick the news it wishes to accept / ignore.

What happens to Dexia's existing shareholders on its nationalisation^2 might have a larger impact...
 
Hi Boggo, Any chance of a chart with MT predictors decision point?

Or is 4165/4226 area it.

Much appreciated
Lenny
 
lenny said:
Hi Boggo, Any chance of a chart with MT predictors decision point?

Or is 4165/4226 area it.

Much appreciated
Lenny
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The "area of decision" (4165/4226) is just a 50% and 61.8% retracement of the last leg down and is of interest as it is usually seems to be the first hurdle in a change of direction.

The MTPredictor Decision Points are really no more than ~1.272% external retracement of the last leg measured from a pivot point (in AGET its referred to as MOB I think) that you can just calculate and project from the last pivot.
 

LostMyShirt said:
I agree with the entirety of your post. I think Friday will be yet another sea of RED for foreign markets as well...
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Love this thread to gauge sentiment. The majority aren't the ones who are making money. Unless of course this thread only comprises the smart money
 
sammy84 said:
Love this thread to gauge sentiment. The majority aren't the ones who are making money. Unless of course this thread only comprises the smart money
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BTW, I have no sentiment, was long today (I only paper trade), but made the best intraday (paper) profit so far, long term short was closed out yesterday mid day. I take it as it comes, what my sentiment was yesterday is always different to today.

And I still stand by what I said last night that I believe it will be testing the resistance today, probable fall overseas tonight because it's Friday, however if things change, and resistance is broken, I'll change my mind about the massive fall coming soon.

I can only (paper) profit from what happens, not what I think will happen.
 
Struzball said:
I can only (paper) profit from what happens, not what I think will happen.
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I would like to profit from what happens but unfortunately I don't know what will happen. Might give random entry a go because thinking about a buy or sell just doesn't cut the mustard.
 
Wysiwyg said:
I would like to profit from what happens but unfortunately I don't know what will happen. Might give random entry a go because thinking about a buy or sell just doesn't cut the mustard.
Click to expand...

Random entry would work well with a smart exit
 
Struzball said:
Random entry would work well with a smart exit
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Two huge spread up days (including a gap up) on the All ords with fairly crappy volume with a clear textbook downtrend behind it - clearly this is a sign of emotional short time buying. All downtrends have pullbacks nothing unusual here!
 
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