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The official "ASX is tanking!" panic thread

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Absolutely the cycles are carried out over decades and are largely linked to demographic spending patterns. It honestly is the perfect storm. Whether it happens in two weeks or two years is almost irrelevant. The market will continue to tank and rally with these crazy percanage drops and gains, and surely won't find any stability leading up to such a time? That's not to say there isn't some money to be made(or in my case most likely lost) in this period.

And great point! i honestly didn't believe there would be so much of this muddling you refer to!
 
willstor said:
Unbelievable. 4193-4232 in half an hour on the basis that we 'think' Europe will have a solution.
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+1, you should have seen my face

I have not observed the market for very long at all, but neither did I begin yesterday. I understand few-day long rallies are caused by very short-term good information, regardless of how hopeless it all is in the long term.

But there was NO GOOD INFORMATION coming out of this weekend, only bad!

tech/a said:
Now what would that mean to governments?
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"Oh snap, well at least we had a good run".
 

You are quite right re Greece - one way or another they will default, the powers that be are trying to soften the landing and will find it tough.

I'm an Englishman living in kiwiland, left in 2007 and ever since I've witnessed mess after mess and good money thrown after bad at Europe, bond market QE, interest rate cuts etc etc and Europe is still in a mess. One Greece goes attention will turn to Italy...how long can Portugal and Spain hold on if things are bumpy after that - could be a huge game of domino's... (This is why I argued furiously against the Euro at university - one thing Blair did for us was keep the uk from that one - the uk is better off becoming another state of America IMHO) What I think we'll see over 10 years is the weaker countries getting kicked out of the Euro, but all you'll see in the short term is 'buy the rumour sell the fact'.
 
The Europe decision is getting ever so close!

Why these markets are being pushed higher beats me risks here are to the down side in a big way, If the bailout package is any less than 2 trillion the markets could come 10%-12% before the end of the week as the markets have now priced a europe fix.

Lets not forget this package will do nothing to stop europe from sliding into reccession anyway!
 

Yeap, i think I'm going to start reducing my exposure further today.

This rally can only last so long with nothing having really changed.

When is the europe announcement?
 
The market is like a highly compressed spring. If it likes the announcement it will spring into life with massive force. If not, it will snap and break.
 
No Europe agreement = 2nd day of falls

Having said that the first hour may well be weird so I wont be shorting too early incase we get an early morning bounce followed by a straight line down
 
Sellers have been drying up so unlikely. Just won't be a spectacular tarp like rally. What would the comprehensive solution look like anyway
 
Unlikely sellers are the worst kind like margin calls & stop losses induced by a sharp move imo.
 
Sold at around 4,185 and bought back just now at 4,176.

100 bucks for a few mins work will do.
Not going to risk the potential of a bounce on the cpi figures, would rather take the gain and run.
 
Starcraftmazter said:
The market is like a highly compressed spring. If it likes the announcement it will spring into life with massive force. If not, it will snap and break.
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Well said. A major turning point is coming. Europe negotiations hadn't ought to disappoint is all I can say. They're good at rhetoric, but can they deliver? How long can the Greece 'default when you're not having a default' drag on? Safety first.
 
skc said:
Down Down, the Exchange is Down.

May be it's sabotage by Chi-X...
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Now all trades under review.

Had a couple of good exits already - I bet you they reverse all that and we will have a staggered restart at 11:00
 
tminus said:
When there are the technical problems at the exchange are you still able to cancel trades, or is everything in lock down.
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Cancel trades or cancel orders?

All trades (already executed) are under review.
All orders are locked.
Your broker would either reject any orders you change now, or hold the changes on their end until the ASX opens again.
 
SFE still trading---well the ticker is still ticking away
 
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