The stock market is crashing....

[visual]

so much for the experts and their considered opinion re bull market having years to run,doesnt look like it ,why the hell do I even listen to these experts. :swear:

 

[GreatPig]

I think the XAO can go down to around 4600 and we'd still be in the bull market that started in early 2003.

GP

 

[visual]

GP,honestly how can it still be a bullmarket,if it takes everything back,to me that sounds like crazy talk. :

 

[Sean K]

I don't think anyone has said the market was going up another 30% this year! In fact, I think the average call was about 10% which is good after 3 years of 25%ish growth. The ASX pe is now below the long term average, so it must eventually go up!

I think the bears are dominating discussion at the moment. It will only take a few days of good news and recovery and the bulls will be out in force.

This is just a correction and I am still tipping the turn around will occur at the end of the month.

 

[mit]

GP,honestly how can it still be a bullmarket,if it takes everything back,to me that sounds like crazy talk. :

By Dow Theory it is a correction until the Market takes out the last significant Low before the market peak.

 

[visual]

Kennas,not in the mood of course I dint expect 30%rise as you put it but expert after expert was convincing in their claim that this was only a temporary correction the market just dropped 20 or more points in a heartbeat,geesh
even the banks are going troppo.Wheres safe.

Kennas nothing personal I just dont really know what i`m doing but by the looks of things neither do the experts.So now I`ll have to stick it out longer than I intended.oh well

 

[powerkoala]

Correction suppose to stop in a month?
But this is wiping all the gain since Dec last year.
Too much for correction, do you agree?

 

[wayneL]

Whoa!

If this keeps up I'll have to turn bullish (just to be contrarian )

 

[powerkoala]

Nice one Wayne.... LOL

 

[GreatPig]

honestly how can it still be a bullmarket

To me, above the bottom trend line is still in the current bullmarket.

Cheers,
GP

 

[mit]

Does anybody know what caused the move over the last hour and a half? I assume that it is coming from overseas as CMC is showing the S&P500 as dropping as well. I can't see any news anywhere that would have caused it.

MIT

 

[visual]

see GP,this is the problem I have with charts
they seem to read the past flawlessly,why cant they say the same thing before it happens not after,cant be that difficult can it,
yep i`m raving

 

[Sean K]

0534 GMT [Dow Jones] S&P/ASX 200 down 1.9% at 3-month low of 4932.5. "This is obviously the capitulation day," says Charlie Aitken at Southern Cross. "There's some panicky action in the trading." Patrick Crabb at Goldman Sachs JBWere concurs. "There's stop-lossing and panic selling because we couldn't hold 5000, the market thinks the next stop is 4800. There's been redemptions in Asian equity funds causing forced selling of the Japanese market." Says surprise rate hike from South Korea also shook confidence in the region. Volume will be decent US$5 billion plus by the close. (DWR)

 

[mit]

Thanks Kennas.

 

[wayneL]

0534 GMT [Dow Jones] S&P/ASX 200 down 1.9% at 3-month low of 4932.5. "This is obviously the capitulation day," says Charlie Aitken at Southern Cross. "There's some panicky action in the trading." Patrick Crabb at Goldman Sachs JBWere concurs. "There's stop-lossing and panic selling because we couldn't hold 5000, the market thinks the next stop is 4800. There's been redemptions in Asian equity funds causing forced selling of the Japanese market." Says surprise rate hike from South Korea also shook confidence in the region. Volume will be decent US$5 billion plus by the close. (DWR)

Hah!

That guy has obviously never seen a real capitulation.

 

[wayneL]

Hah!

That guy has obviously never seen a real capitulation.

Hope that didn't come across wrong kennas.

That was not meant to reflect on you in any way, and thanks for posting it

Cheers

 

[Sean K]

No dramas, I didn't think it was referred to me.

I personally haven't really experienced a 'capitulation' save for the dot com crash where I lost a bit. I had most of my money in managed funds then.

Fundamentals for the Aussie market are still solid across the board imo. There will be no 'crash'. This is an opportunity.

 

[visual]

Kennas,this is an opportunity as long as you have money,well thats the thing thats really annoying me,I had the money miscalculated and now ,well what can you do.

I know you cant pick the bottom but I didnt pick at all well :swear:

 

[RichKid]

To me, above the bottom trend line is still in the current bullmarket.

Cheers,
GP

The problem with going only by trendlines is that it's much more of an art than a science.

 

[IGO4IT]

Hi guys,

I think US$ may get some support, this is on the CNN headlines now:

Terror leader al-Zarqawi dead, Iraqi officials say

http://www.cnn.com/2006/WORLD/meast/06/08/iraq.al.zarqawi/index.html