The official "ASX is tanking!" panic thread

[alexc2005]

You are right. I should have followed the strategy and Candle Stick charts and listened to the markets (RFE) 50c resistance and trend and sold! Instead I wanted to see what would happen, and this happened.

If I had sold at 49-50, rebought at 40, I could have increased my holdings substantially and have larger profits in the long haul, but alas no, im a moron....

You're not a moron. You're Human.

I could have sold at a profit for my portfolio. But i didn't and now im down 12% on it.

**** happens. But long term i'm hoping it will be ok. If not i might start averaging down, I'm over it for today though, lets see what monday brings.

[RexBudman]

You're not a moron. You're Human.

I could have sold at a profit for my portfolio. But i didn't and now im down 12% on it.

**** happens. But long term i'm hoping it will be ok. If not i might start averaging down, I'm over it for today though, lets see what monday brings.

Curious - what are you in mate?

[tech/a]

One comment.

OUCH!

[alexc2005]

Curious - what are you in mate?

ANZ, AUT, AXT (silly idea), BKP, CGM (the "cheap" buy yesterday), CNX, GGP, GOA, HOG (cheap buy today), JPR, OZL, PEN, PNA, SEA, TXN.

The main ones killing me are ANZ and OZL.

I can't believe how much ANZ has fallen from my "cheap" buy at $22. Fail.

OZL i was going to sell last week at $14:40, now its $12:17. I Need to learn to take profits and get out when i have these thoughts.

Have had these thoughts alot but always said "oh lets wait and see what happens"

I'm a rookie, and i'm learning. This is just accelerating the learning process.

[disarray]

2007 taught me the value of a stop loss. don't take a trade without one. ever.

[RexBudman]

ANZ, AUT, AXT (silly idea), BKP, CGM (the "cheap" buy yesterday), CNX, GGP, GOA, HOG (cheap buy today), JPR, OZL, PEN, PNA, SEA, TXN.

The main ones killing me are ANZ and OZL.

I can't believe how much ANZ has fallen from my "cheap" buy at $22. Fail.

OZL i was going to sell last week at $14:40, now its $12:17. I Need to learn to take profits and get out when i have these thoughts.

Have had these thoughts alot but always said "oh lets wait and see what happens"

I'm a rookie, and i'm learning. This is just accelerating the learning process.

I started buying RFE and topped it up through-out the course of a couple of months and saw 0.37 jump to 0.40 jump to 0.505 - I just don;t have enough money to buy into the stocks that you have bought into. You must have a nice fat amount sitting in equities :p

I am going to check out your stocks tonight and do some research. Todays crash is a huge shame because it puts people like me in the lurch... People like me being newbie uneducated fellows with more money than time...

[samanne1]

You're not a moron. You're Human.

I could have sold at a profit for my portfolio. But i didn't and now im down 12% on it.

**** happens. But long term i'm hoping it will be ok. If not i might start averaging down, I'm over it for today though, lets see what monday brings.

Agree - you are only a moron if you don't __learn__ from the experience.

[explod]

In my view it is not a day to trade at all. The sun will come up tomorrow.

We are on the cusp of a lot of change and the market will be very volatile for some time. If you are at all worried there is a good old adage "if in doubt, get out".

We are going to need ssentials. Woolworths for example are down 2.3 percent, this is just panic and some common sense will come back to the good stocks soon.

If you cannot do anything, leave the computer and review it all after the close and also read back over what some of the more experienced posters are having to say this evening.

Its a nice day down here to have a walk down to the beach or go and buy your partner a nice bunch of flowers or go out to dinner. Life will go on.

[sammy84]

In my view it is not a day to trade at all. The sun will come up tomorrow.

We are on the cusp of a lot of change and the market will be very volatile for some time. If you are at all worried there is a good old adage "if in doubt, get out".

We are going to need ssentials. Woolworths for example are down 2.3 percent, this is just panic and some common sense will come back to the good stocks soon.

If you cannot do anything, leave the computer and review it all after the close and also read back over what some of the more experienced posters are having to say this evening.

Its a nice day down here to have a walk down to the beach or go and buy your partner a nice bunch of flowers or go out to dinner. Life will go on.

Best post today.

[skc]

In my view it is not a day to trade at all. The sun will come up tomorrow.

We are on the cusp of a lot of change and the market will be very volatile for some time. If you are at all worried there is a good old adage "if in doubt, get out".

We are going to need ssentials. Woolworths for example are down 2.3 percent, this is just panic and some common sense will come back to the good stocks soon.

Today is the PERFECT day to trade. So many short term opportunities...

(Wouldn't hold anything over night without protection though).

[explod]

Today is the PERFECT day to trade. So many short term opportunities...

(Wouldn't hold anything over night without protection though).

Of course but aimed more at the mainstream. I am sure the one minute tick counters are having a ball. And good forex traders, bingo.

[tigerboi]

looking at this makes me feel good & why i only buy one stock.

WPG @ $0.75 current sp around 85 -86c down from $1.06 a week ago

so still up 15%...massive bargin imo...hang in there...tb

ANZ, AUT, AXT (silly idea), BKP, CGM (the "cheap" buy yesterday), CNX, GGP, GOA, HOG (cheap buy today), JPR, OZL, PEN, PNA, SEA, TXN.

The main ones killing me are ANZ and OZL.

I can't believe how much ANZ has fallen from my "cheap" buy at $22. Fail.

OZL i was going to sell last week at $14:40, now its $12:17. I Need to learn to take profits and get out when i have these thoughts.

Have had these thoughts alot but always said "oh lets wait and see what happens"

I'm a rookie, and i'm learning. This is just accelerating the learning process.

[theartglasshouse]

The only annoying thing at the moment is

A) Do I top up on the stocks that I already own
B) Do I put the limited money that I do have for shares at the moment into some other companies that I have been eyeing off
or
C) A little from column A and a little from column B

I will wait till Monday and hope the blood bath continues so I can get them cheaper...

[Tysonboss1]

The only annoying thing at the moment is

A) Do I top up on the stocks that I already own
B) Do I put the limited money that I do have for shares at the moment into some other companies that I have been eyeing off
or
C) A little from column A and a little from column B

I will wait till Monday and hope the blood bath continues so I can get them cheaper...

I can't give you advice, number one because I have no idea on your personal situation or the stocks you are talking about.

However in my personal situation, I am drip feeding funds into a basket of stocks I already own.

[wayneL]

The only annoying thing at the moment is

A) Do I top up on the stocks that I already own
B) Do I put the limited money that I do have for shares at the moment into some other companies that I have been eyeing off
C) A little from column A and a little from column B

or
D) Buy a Kalashnikov and a pallet of baked beans.

[wayneL]

Question:

Why is it that people on forums always have boxes of cash available to "buy up bargains"

[theartglasshouse]

No question intended really...just musing to myself really as I have a decision to make before next week on which option I should choose

I wish it was boxes wayne! More like a matchbox with a few pennies...

Option D) - No, I only weigh 68kg so the power of Kalashnikov would knock me off my feet...although the baked beans might beef me a little...

[skc]

Like I said.. there is no bounce today. The futures just printed a new low...

Question:

Why is it that people on forums always have boxes of cash available to "buy up bargains"

I know! I keep my cash in a waterproof bag rather than a box. That way when it floods again in QLD I will simply float away with that lump of money.

[wayneL]

Option D) - No, I only way 68kg so the power of Kalashnikov would knock me off my feet...although the baked beans might beef me a little...

I'm 68kg too... and probably 3kg overweight at that, but I wrastle with 500-700kg beasts about six times every workday (for an appropriate cash consideration ); I'm sure you could handle the AK... sheez they give them to their kids over in the Middle East.

Man up Arty!!

[wayneL]

I know! I keep my cash in a waterproof bag rather than a box. That way when it floods again in QLD I will simply float away with that lump of money.

My missus takes mine. Our mutual clients don't even bother paying me, they just give it to her.

...and I still have to to pay the cheque when we go out to outrageously expensive Hawkes Bay vineyard restaurants!