Yikes!!! - Aussie market writes off 30 Billion in first 15 minutes of trading today
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numbercruncher
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Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
Few more weeks like today we might see some good buying opportunitys eh ?
Few more weeks like today we might see some good buying opportunitys eh ?
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Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
Yikes!!!! aint half of it. More like Faaaaaaaarrrrrrrrrr............!
My portfolio (long term blue chip) has been decimated and my super is dissappearing faster than a black hole. At this rate, If I live that long, I'll be still working in my nineties. This is not "the market" doing it's thing. There has to be dark forces out there manipulating. I firmly believe that short selling should be made a treasonable offence punishable by the ultimate sanction. Seizure and distribution of assets followed by severe death !
Yikes!!!! aint half of it. More like Faaaaaaaarrrrrrrrrr............!
My portfolio (long term blue chip) has been decimated and my super is dissappearing faster than a black hole. At this rate, If I live that long, I'll be still working in my nineties. This is not "the market" doing it's thing. There has to be dark forces out there manipulating. I firmly believe that short selling should be made a treasonable offence punishable by the ultimate sanction. Seizure and distribution of assets followed by severe death !
Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
Arn't you suppossed to be playing footy in an hour or so for Hawthorn?
Seriously, have you considered switching super mix to cash only? you can at least earn 5% & keep capital intact.
Arn't you suppossed to be playing footy in an hour or so for Hawthorn?
Seriously, have you considered switching super mix to cash only? you can at least earn 5% & keep capital intact.
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Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
Ha! Then I'll have to get on a very fast plane, from Perth.
On the super thing; Not sure it's a good idea to switch plans on the way down. All you do is lock in the losses. I don't think that's a great plan. However, i am seriously considering a SMSF to put some spare cash into (assuming I don't need it to live for today). There is another thread on that idea.
Ha! Then I'll have to get on a very fast plane, from Perth.
On the super thing; Not sure it's a good idea to switch plans on the way down. All you do is lock in the losses. I don't think that's a great plan. However, i am seriously considering a SMSF to put some spare cash into (assuming I don't need it to live for today). There is another thread on that idea.
theasxgorilla
Problem solved... next bubble.
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Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
Add salt to the wounds as the AUD does a "Led Zeppelin" against most major currencies. Aussie wealth and purchasing power is getting slammed.
Add salt to the wounds as the AUD does a "Led Zeppelin" against most major currencies. Aussie wealth and purchasing power is getting slammed.
numbercruncher
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Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
Everyone must realise their destiny ....
Everyone must realise their destiny ....
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Re: Yikes!!! - Aussie market writes off 30 Billion in first 15 minutes of trading tod
and perspective gets thrown out the door - AGAIN.
where is the xjo back to now ? - early 2006 ? late 2005 ? - so what ?
is it back to 199X - NO - 198X - NO.
calm down then. as mentioned, reallocate and reenter when you feel more comfortable.
and perspective gets thrown out the door - AGAIN.
where is the xjo back to now ? - early 2006 ? late 2005 ? - so what ?
is it back to 199X - NO - 198X - NO.
calm down then. as mentioned, reallocate and reenter when you feel more comfortable.
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Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
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Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
Just say you started with $100k super, and the your super had fallen by 30% to $70k and you were expecting it to fall further. Surely it would be best to put the $70k into cash and have it earning positive interest and preserving the capital allowing you $70k+ to have available to place back in shares once the market turns around. Rather than letting it fall further and then only having maybe $50k or less exposed to the market when market turns around.
That doesn't really make sense to me Buddy.
Just say you started with $100k super, and the your super had fallen by 30% to $70k and you were expecting it to fall further. Surely it would be best to put the $70k into cash and have it earning positive interest and preserving the capital allowing you $70k+ to have available to place back in shares once the market turns around. Rather than letting it fall further and then only having maybe $50k or less exposed to the market when market turns around.
Julia
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Re: Yikes!!! - aussie market writes off 30 Billion in first 15 minutes of trading to
I agree, though, and it's what I've done but the downside of course is that you can miss the initial gains when there's a recovery, and it complicates the tax situation. Depends on the reason for the downturn, doesn't it? If it's a defined one-off event, e.g. the Sept 11th plunge, confidence will likely only be shaken briefly. But in the present mess, confidence has been severely shattered, partly because we don't know what bad news is still out there, and the fundamentals globally are looking more and more like recession.
I suppose we all pass or fail the "sleep test" in different ways. I'm not happy watching my capital diminish every day, but someone in their 20's will take a different view.
Hopefully with this strategy you'd have executed it before you were down 30%.
I agree, though, and it's what I've done but the downside of course is that you can miss the initial gains when there's a recovery, and it complicates the tax situation. Depends on the reason for the downturn, doesn't it? If it's a defined one-off event, e.g. the Sept 11th plunge, confidence will likely only be shaken briefly. But in the present mess, confidence has been severely shattered, partly because we don't know what bad news is still out there, and the fundamentals globally are looking more and more like recession.
I suppose we all pass or fail the "sleep test" in different ways. I'm not happy watching my capital diminish every day, but someone in their 20's will take a different view.
Nyden
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Re: Yikes!!! - Aussie market writes off 30 Billion in first 15 minutes of trading tod
I'd pin more blame on the interest rate drop. Cursed RBA, they should be raising the rates, not lowering them!
Those of us who are actually conservative and responsible - and not riddled with debt and idiocy, are being punished for the acts of the moron-"battlers" buying over-priced assets they can't even afford ... sigh.
I say raise the rates, trash the RE market, flush-out all those with 0% deposit loans through defaults and bankruptcy, and start fresh
At least that way the AUD would have some blooming purchasing power here in Australia at least.
On another topic, what's the quickest, easiest way to hedge for currency fluctuations? Go down to the bank and buy Euros? We're always saying to diversify stock-portfolios, but how many of us diversify our currency-holdings?
Heck, at the current speed - we could be at .75c in a few days
Oh, and don't think that it's only currency-holders who get hurt by a lower AUD. Granted, the miners will be better off in the long run, but not if they fall another 30%. When you eventually sell, you'll have lost money locally - and purchasing power internationally, double trouble there: Just annoyed at a lot of people praising the lower aud, is all.
I'd pin more blame on the interest rate drop. Cursed RBA, they should be raising the rates, not lowering them!
Those of us who are actually conservative and responsible - and not riddled with debt and idiocy, are being punished for the acts of the moron-"battlers" buying over-priced assets they can't even afford ... sigh.
I say raise the rates, trash the RE market, flush-out all those with 0% deposit loans through defaults and bankruptcy, and start fresh
At least that way the AUD would have some blooming purchasing power here in Australia at least.
On another topic, what's the quickest, easiest way to hedge for currency fluctuations? Go down to the bank and buy Euros? We're always saying to diversify stock-portfolios, but how many of us diversify our currency-holdings?
Heck, at the current speed - we could be at .75c in a few days
Oh, and don't think that it's only currency-holders who get hurt by a lower AUD. Granted, the miners will be better off in the long run, but not if they fall another 30%. When you eventually sell, you'll have lost money locally - and purchasing power internationally, double trouble there
: Just annoyed at a lot of people praising the lower aud, is all.Re: Yikes!!! - Aussie market writes off 30 Billion in first 15 minutes of trading tod
Amen
Those of us who are actually conservative and responsible - and not riddled with debt and idiocy, are being punished for the acts of the moron-"battlers" buying over-priced assets they can't even afford ... sigh.
I say raise the rates, trash the RE market, flush-out all those with 0% deposit loans through defaults and bankruptcy, and start fresh
Amen
theasxgorilla
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Re: Yikes!!! - Aussie market writes off 30 Billion in first 15 minutes of trading tod
I'd be happy to use either EUR or SEK to buy AUD at this price. I've seen both cross-rates test lower levels, find historical support and rapidly fail. The chart patterns are typical of the end of a strong push down. But that's not hedging, that's what I'd be happy to buy AUDs for so I can earn 7%+ with ING or participate in what is shaping up to be a short to medium term rally on the ASX.
Could be the sector to lead us out of the slump. Wouldn't surprise me in the slightest. I don't think commodities are dead and I don't think mining is dead in Australia either.
On another topic, what's the quickest, easiest way to hedge for currency fluctuations? Go down to the bank and buy Euros? We're always saying to diversify stock-portfolios, but how many of us diversify our currency-holdings?
Heck, at the current speed - we could be at .75c in a few days
I'd be happy to use either EUR or SEK to buy AUD at this price. I've seen both cross-rates test lower levels, find historical support and rapidly fail. The chart patterns are typical of the end of a strong push down. But that's not hedging, that's what I'd be happy to buy AUDs for so I can earn 7%+ with ING or participate in what is shaping up to be a short to medium term rally on the ASX.
Oh, and don't think that it's only currency-holders who get hurt by a lower AUD. Granted, the miners will be better off in the long run, but not if they fall another 30%. When you eventually sell, you'll have lost money locally - and purchasing power internationally, double trouble there
Could be the sector to lead us out of the slump. Wouldn't surprise me in the slightest. I don't think commodities are dead and I don't think mining is dead in Australia either.
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Re: Yikes!!! - Aussie market writes off 30 Billion in first 15 minutes of trading tod
That's what they said when the All Ords was at 5500.
http://skepdic.com/sunkcost.html
That's what they said when the All Ords was at 5500.
I like short-sellers because without their pessimism there would be too much optimism, which means bigger bubbles and harder crashes.
Isn't this the sunk cost fallacy?
http://skepdic.com/sunkcost.html
Re: Yikes!!! - Aussie market writes off 30 Billion in first 15 minutes of trading tod
As a value investor you should be celebrating with this sort of bargain and I am celebrating.
I picked up bargain last couple of weeks
AMP at $6.20
FBU at $5.00
FUN at 39 cents
more SUN today at $10 bucks
BXB escape me with with 3 cents margin damn it .. I put in at $7 drop to about $7.05 and $7.03 and never came back down ...
I'm still loaded with cash..as stock drop time to lock and load
As a value investor you should be celebrating with this sort of bargain
and I am celebrating.I picked up bargain last couple of weeks
AMP at $6.20
FBU at $5.00
FUN at 39 cents
more SUN today at $10 bucks
BXB escape me with with 3 cents margin damn it .. I put in at $7 drop to about $7.05 and $7.03 and never came back down ...
I'm still loaded with cash..as stock drop time to lock and load
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