Australian (ASX) Stock Market Forum

Where is the bottom?

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megla

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I reckon that it'll be around 5558. Why? - Just gut or blind hope :eek:

There is still lots of money out there waiting to be invested, so the market has to bounce bank ... doesn't it?

This reminds me of the '87 crash. Hell, I had only just got in, and lost the lot! And I only just got back in 18 months ago :rolleyes:
 
Ok, the sharmarket it almost at 5,500 how ca 5,800 be the bottom? Personally I think the market will touch 5,400, then jump up and down sidetracking this value for sometime..
 
I think america has a lot more negative suprises in store. This is really going to get very ugly. The whole rams scenario today has shown that the trickle on effect of the american sub prime market is well and truely in effect. It is only going to take one more negative announcement and god knows where the bottom will be. Panic has well and truely set in, this is going to take a long time to reverse.
 
I said around 5800 a few weeks ago, obviously its past that so I wouldnt expect much more.
Good buying opps ATM.

Cheers:2twocents
 
Young Gun said:
Ok, the sharmarket it almost at 5,500 how ca 5,800 be the bottom? Personally I think the market will touch 5,400, then jump up and down sidetracking this value for sometime..
Click to expand...

Jeez. Started typing, walked away... looked at my shares, came back, pressed post and What the!
 
Either way guys,
No matter how tough this is at the moment what a fantastic learning experience this is for everyone. Who ever has not taken part in any of the other crashes this is an opportunity to really re evaluate trading styles and trading systems, whether you’re a fundamentalist or a technical trader/investor.
The experience is priceless.

SGB
 
resourcesman said:
experience is priceless eh? for some, theres gonna be a price alright... half our invested assets :eek:
Click to expand...

Hello resoursesmen,

sorry to hit a nerve.

One Question

Why do you presume we should always be good judges at our investments and always have to make the right investment choices?

History tells us it will return. How long.... nobody knows this. It took 9 years after the 87 crash but eventually come back and we all got to make money.
IMO, Now is the time to look for opportunities.

Regards
SGB
 
I dont think anyone knows the real bottom - except people have points where certain events might occur (eg Fibonacci levels). It seems to be a snowball at the moment - getting bigger and bigger. People told not to invest (buy) at the moment. So who to sell to?

It would also be compounded by margin calls, people not getting through to the (online) brokers and the problem gets worse.

Seems to be a catch 22 there?!? (want to sell, nobody to buy, ummm... need the money for margin!)

Somebody in the XAO thread said to sit back with the popcorn and watch it descend to 5500. And with the present fear in the market place (bit like a fire in a room with one door that you cant open)

Tim

PS. with my own clumsy analysis i had guessed 5600 (wedge pattern) but did not believe it but could/has gone further.
 
uh oh, I think I hear the margin man creeping around the side entrance. To sell stock, or inject cash - Anyone else in the same boat ??
 
Dow futures well down as well, going to be another blood bath on wall street. This is going to get sooooooooooooooooooooooooooooo ugly tomorrow. Once the margin calls start getting triggered, if they haven't already it is going to cause a multiplier affect.
 
Well the ASX 200 has just put on nearly 100 points in about 10 mins and since the sharp sell off, maybe the buyers have found favour.
 
SGB said:
Either way guys,
No matter how tough this is at the moment what a fantastic learning experience this is for everyone. Who ever has not taken part in any of the other crashes this is an opportunity to really re evaluate trading styles and trading systems, whether you’re a fundamentalist or a technical trader/investor.
The experience is priceless.

SGB
Click to expand...

Well I for one am massively in the RED. I should be angry, upset and all the other emotions that come from this type of scenario. I have a LOT of money invested in the market (too much), but somehow I feel good.

About 2 weeks ago, I stopped trading altogether. After making stupid mistake after stupid mistake, I was getting nowehere. Fortunately for me, I did stop, and have saved myself a lot of further heartache with where the markets have gone. That's not to day my original stocks haven't fallen furtther....they have. But I haven't added to the pain by continuing to catch falling knives.

I agree 100% with SGB. This experience is priceless. I have a list of trading techniques and styles (obvious mistakes) written down on papaer that I will never employ again. Just watching over the last 2 weeks has taught me so much about what NOT to do, and how the markets work.

My PLAN at the moment is NOT to sell my stocks for further losses, because invariably they will come back, be it 2 weeks or 2 years.

Just sit back and learn!
 
the barry said:
Dow futures well down as well, going to be another blood bath on wall street. This is going to get sooooooooooooooooooooooooooooo ugly tomorrow. Once the margin calls start getting triggered, if they haven't already it is going to cause a multiplier affect.
Click to expand...

I think everybody needs to have another look at where we are here.There hasn't been a bloodbath yet, we are a few percent down.

We are actually still higher now than we were at the beginning of the year.

If it goes pear shaped, you ain't seen nothing yet.

On the other side of the coin, after todays effort we could be at new highs by the end of the year :)
 
Porper said:
I think everybody needs to have another look at where we are here.There hasn't been a bloodbath yet, we are a few percent down.

We are actually still higher now than we were at the beginning of the year.

If it goes pear shaped, you ain't seen nothing yet.

On the other side of the coin, after todays effort we could be at new highs by the end of the year :)
Click to expand...

Many people on ASF invest in spec stocks. There certainly has been a bloodbath there!!:eek:
 
I reckon 5400, that'll touch the long term lower trend line. but that's just my speculation (and probably dodgy chart reading) :) only 100 points to go based on yesterdays plummet ;)

Tony.
 

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