. Is there gonna be a bounce? Starting now?
Complete nonsense? How you can say that astounds me. We rallied 120 points from Friday's low based on an expected big rally that night on the DOW, which not only did not eventuate (meaning we could/should give that rally back), but it actually fell a further 0.5%. Based on these figures, saying the possibility of a 100+ point drop on our market Monday is complete nonsense is ridiculous. Also, I don't understand
Yes, but as I stated before MFP; that is far too logical. You are placing intellect on the market itself, as if it is an entity that needs to now 'make up' for losses...
(Once again, to repeat myself; this is nonsensical logic. By that argument, we're due in for some gains from the rallies we missed over the last 11 days!)
It does not work that way, selling is not some kind of exact science, where suddenly people sell because they should have on Friday. They aren't going to suddenly stop selling because we've now equalized with the Dow, either. They sell from their own interpretations of news, & their own fears of what the dow will do next.
As stated; these buyers / sellers, do not need to worry about what the Dow will do Monday night, because it's closed. This means there will be a lot less fear in the markets; & we may see some fundamental buying, or technical buying based on some expected rally
My prediction for Monday is down 100 to 150 at close.
But I wish all involved the very best
Make that XJO -141.60 with 6 mins to go, breaking Friday's low and taking out the Mar 07 and Aug 07 closing lows.
Make that XJO -141.60 with 6 mins to go, breaking Friday's low and taking out the Mar 07 and Aug 07 closing lows.
I'm completely out of the market and loving watching this slaughter unfold, so for me this is not only positive thinking, but I would say realistic thinking.
Yep. Who would have thunk it?
Clearly it was Asia dragging us down today though. With RIO down 8%, BNB >10% and CBA down 5%, that is some serious weight.
100 points just seemed like such an arbitrary figure. Why not 150? That's where all the swing lows were.
And in my opinion, unless something is pulled out, we are in serious crash trouble for tomorrow, tomorrow night and Wednesday. Serious serious trouble. So it may be wise to cool it with those smilies and things. Even though I ended the day short, and stand to gain a lot if that does pan out, people will be ruined by this. And that's something I think you should be aware of and respectful of, because I don't think you are. What's playing out is just not good for anyone. And even though I stand to gain a lot here, I am mindful of what damage is potentially going to be done...
Yep, currently sitting on $150K paper losses. Been feeding the margin calls for a week now. So far thrown $50K good money after bad. Bought up big on fundamentals, BHP, NAB etc. The pain is starting to get to the point that tomorrow looks like my exit day. Sell down the remaining $700K worth of stock and sit it out. Lock in $150K of losses and lick my wounds.And in my opinion, unless something is pulled out, we are in serious crash trouble for tomorrow, tomorrow night and Wednesday. Serious serious trouble. So it may be wise to cool it with those smilies and things. Even though I ended the day short, and stand to gain a lot if that does pan out, people will be ruined by this. And that's something I think you should be aware of and respectful of, because I don't think you are. What's playing out is just not good for anyone. And even though I stand to gain a lot here, I am mindful of what damage is potentially going to be done...
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