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The official "ASX is tanking!" panic thread

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The reason they appeared to dilly dalli for so long was to get Greece to pass lots of tightening measures before they bailed them out.

Greece is nothing. They can't bail the others out.

All they are hoping for now is that things will all feel very positive and there will be enough growth, as a result, to shrink the debts and increase GDP & stave off recession.

What will be interesting is to see what the French banks do and how much collateral damage there will be.

I'm thinking to sell in May or January depending on how it looks then.
Everyone wants the markets to go up, that's what there supposed to do.

People can't walk away from Pockie machines and they can't walk away from the market.
It's pretty simple.

China should rush to buy some stuff as the sales come to an end.
 
nulla nulla said:
The Greek bailout sends the wrong message, to Greece and the rest of the Euro members. "If you can't pay your bills, don't worry we will bail you out". For Greece it is "back to the party". For the rest of the members with problems it is "If you did it for Greece, you have to do it for us".
All care and no responsibility, party, party, party.

This bubble is going to make the GFC look like a pimple. When it collapses........
Click to expand...

A nieve view. There are no free lunches. This is a multi pronged solution backed with a large net.The net is there but not used in entirety.
It is very clear to those looking at the Euro solution that Greece is only the very tip.
They are factoring in worst case scenarios that's why it's taken so long.
The net is wide--- Govts / banks / private sector.
There are no illusions here everyone knows exactly what default means.

The push will be towards growth but it has to be sustainable and with minimal inflation.
I expect steady as she goes once the exuberance dies down.

VSntchr said:
so now what!
Click to expand...
 
tech/a said:
A nieve view. There are no free lunches. This is a multi pronged solution backed with a large net.The net is there but not used in entirety.
It is very clear to those looking at the Euro solution that Greece is only the very tip.
They are factoring in worst case scenarios that's why it's taken so long.
The net is wide--- Govts / banks / private sector.
There are no illusions here everyone knows exactly what default means.

The push will be towards growth but it has to be sustainable and with minimal inflation.
I expect steady as she goes once the exuberance dies down.
Click to expand...

So i gather you are sticking to the short term trading for the time being?

I have the feeling that this is the real dead cat bounce before things **** themselves.

Time to exit my long holds and daytrade on the trends. :). But, I may have to accept some losses first.

It's funny how the larger stocks follow the market, even when copper was up 7% OZL just follows what the all ords does. Has to be my biggest dog of a stock. Stupid consolidation..
 
tech/a said:
Rates will be cut Monday
I'll be having a look around for opportunity
Click to expand...

Yeah, isn't that going to boost things a bit! :)

I have been silly in the past with holding on, but i think i will take some profits after this.

Its hard though, how do you bail on companies that are pretty much no brainers like GGP for example?

Have you looked at GGP tech/a?
 
alexc2005 said:
Its hard though, how do you bail on companies that are pretty much no brainers like GGP for example?

Have you looked at GGP tech/a?
Click to expand...

I don't know what tech thinks of GGP but outa curiosity i had a 5 minute look at it and came away with the conclusion that there is a very substantial difference between what you call a 'no brainer' and what i would call a 'no brainer' for a start any investment that i would call a 'no brainer' would have to actually be operationally profitable.
 
tminus said:
http://finance.ninemsn.com.au/newsbusiness/aap/8366062/glitch-halts-trade-on-asx
Click to expand...


It's funny because Sky News is always wrong :D


nulla nulla said:
The Greek bailout sends the wrong message, to Greece and the rest of the Euro members. "If you can't pay your bills, don't worry we will bail you out". For Greece it is "back to the party". For the rest of the members with problems it is "If you did it for Greece, you have to do it for us".
All care and no responsibility, party, party, party.
Click to expand...

Not sure if the Greek people would agree.
 
alexc2005 said:
I have the feeling that this is the real dead cat bounce before things **** themselves.
Click to expand...

I am pretty bullish actually. The risk of some uncontrolled catastropy is pretty much averted for at least 12-18 months and the current rally should take us to 4500 (next major resistance zone on the chart). The US GDP data tonight should show they are not yet in recession. Technically world markets have blasted through resistances across the board (DAX >6000, SPX >1250, ASX > 4300, HSI > 18500).

Plenty of beaten down stocks on offer...

So_Cynical said:
I don't know what tech thinks of GGP but outa curiosity i had a 5 minute look at it and came away with the conclusion that there is a very substantial difference between what you call a 'no brainer' and what i would call a 'no brainer' for a start any investment that i would call a 'no brainer' would have to actually be operationally profitable.
Click to expand...

Perhaps no brainer = stock for those with no brains.

tech/a said:
Rates will be cut Monday
I'll be having a look around for opportunity
Click to expand...

Tuesday actually.
 
skc said:
I am pretty bullish actually. The risk of some uncontrolled catastropy is pretty much averted for at least 12-18 months and the current rally should take us to 4500 (next major resistance zone on the chart). The US GDP data tonight should show they are not yet in recession. Technically world markets have blasted through resistances across the board (DAX >6000, SPX >1250, ASX > 4300, HSI > 18500).

Plenty of beaten down stocks on offer...



Perhaps no brainer = stock for those with no brains.



Tuesday actually.
Click to expand...

Feel a bit that way myself [as in bullish] and done reasonably well recently [for a change] on financials. It would take a big downturn to damage my profits. [But please read into this that I have also made errors and endured losses]..

I'd be interested in your nomination of a few beaten-down stocks if you care to share. Not asking for recommendations, just an opinion.
 
nulla nulla said:
The Greek bailout sends the wrong message, to Greece and the rest of the Euro members. "If you can't pay your bills, don't worry we will bail you out". For Greece it is "back to the party". For the rest of the members with problems it is "If you did it for Greece, you have to do it for us".
All care and no responsibility, party, party, party.

This bubble is going to make the GFC look like a pimple. When it collapses........
Click to expand...
I agree. As far as Greece is concerned, it's moral hazard all over again imo.

Analysis on "7.30" this evening points out several holes in the so called plan.

http://www.abc.net.au/7.30/

So the banks are going to be recapitalised in order to allow them to sustain the losses from what's essentially a Greek default.
Where are the funds coming from to provide this recapitalisation?

Starcraftmazter said:
Not sure if the Greek people would agree.
Click to expand...
Of course they wouldn't, or they'd have behaved responsibly long before now.
 
Julia said:
Of course they wouldn't, or they'd have behaved responsibly long before now.
Click to expand...

The point is, Greeks are now severely worse off; not just in terms of living standards, but also because austerity has crippled what was left of it's economy - not to mention it has been politician suicide for the ruling party.

I am pretty sure nobody is lining up to be in Greece's position.
 
Muschu said:
Feel a bit that way myself [as in bullish] and done reasonably well recently [for a change] on financials. It would take a big downturn to damage my profits. [But please read into this that I have also made errors and endured losses]..

I'd be interested in your nomination of a few beaten-down stocks if you care to share. Not asking for recommendations, just an opinion.
Click to expand...

I won't name specifics here but I will start putting positions on my thread here:
https://www.aussiestockforums.com/forums/showthread.php?t=21005&p=665189#post665189

I think there are good picks from the financials including wealth management and insurance - where div yields of 7%+ are simply not sustainable. Share price "should" rise to lower the yield as FUM outflow stems.

There are also a good selection of mining service companies that probably have double digit EPS growth but trading at single digit PE. Some IT companies also fall in this category.

There are probably easy pickings amongst REIT and Utilities - while they haven't fallen as much they are going to benefit from the rate cut and the xmas dividend run up. The return won't be as much but 10-15% between now and Xmas is more than achievable.

And as long as data from China remains respectable, there are also good gain potential in some of the smaller profitable miners. Although I usually just trade the chart for those.

Then of course the sky could fall in tomorrow when the Italians want to get a Greek style haircut as well... so one still need to stick with the usual rules of position sizing and risk management.
 
alexc2005 said:
Yeah, isn't that going to boost things a bit! :)

I have been silly in the past with holding on, but i think i will take some profits after this.

Its hard though, how do you bail on companies that are pretty much no brainers like GGP for example?

Have you looked at GGP tech/a?
Click to expand...

While I don't disagree with So Cynical I do look at these " opportunities"
A little differently to some.
Clearly liquidity is an issue any position size over $ 10,000 could see you stuck with large slippage if you wish to get out.

GGP. Has risin over 100% lately.
Problem is other than the large gap up trading was un spectacular.

I can't see how you'd have flagged it technically.

BUT
If you can get on one of these snd move your stop to B/E then a 100% profit is not impossible.
Even a non producing stock can easily trade in the teens.
 
Julia said:
Of course they wouldn't, or they'd have behaved responsibly long before now.
Click to expand...

There are a group of Greek lawyers who are suing the Government to find out exactly where all the bailout money was spent because they know only a trickle went to the people.

The Government is fighting this class action.:banghead: I can give you one guess why.....
 
tech/a said:
A nieve view. There are no free lunches. This is a multi pronged solution backed with a large net.The net is there but not used in entirety.
It is very clear to those looking at the Euro solution that Greece is only the very tip.
They are factoring in worst case scenarios that's why it's taken so long.
The net is wide--- Govts / banks / private sector.
There are no illusions here everyone knows exactly what default means.

The push will be towards growth but it has to be sustainable and with minimal inflation.
I expect steady as she goes once the exuberance dies down.
Click to expand...

Very naive and cynical also. IMO the let off dooms them to repitition only next time there won't be enough in the euro pot to bail any one out, greece, portugal, ireland, italy, spain & france.
 
nulla nulla said:
Very naive and cynical also. IMO the let off dooms them to repitition only next time there won't be enough in the euro pot to bail any one out, greece, portugal, ireland, italy, spain & france.
Click to expand...

No doubt both opinions are one of Thousands.
If world leaders and economic genius's can't get it right
What hope do we have--- both opinions mean nothing in the big picture.

Look after your/ our backyard I say.
 
tech/a said:
No doubt both opinions are one of Thousands.
If world leaders and economic genius's can't get it right
What hope do we have--- both opinions mean nothing in the big picture.

Look after your/ our backyard I say.
Click to expand...

Agreed.
 
All that comes to mind is the song "six months in a leaky boat".

As for the great minds of leaders and pollies, they are the ones that let it happen in the first place. Hardly something that should be commended.

Italy will be next and why shouldn't they get a debt reprieve, Greece did.

Cheers
 
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