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Prepare to get smashed - 1 trillion wiped off Wall Street

Discussion in 'ASX Stock Chat' started by agro, Sep 30, 2008.

  1. agro

    agro

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    today will be interesting

    maybe 10,500 support for the all ords?


    what to buy?
     
  2. DB008

    DB008

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    I think u mean 4500 for the All Ords?

    The Dow will be under 10k tonight for sure.
     
  3. Tysonboss1

    Tysonboss1

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    Yep this one's gonna hurt today,.... Atleast till friday.

    To late to put in sell orders though,... the queue's are full of cheap sales already.
     
  4. doogie_goes_off

    doogie_goes_off disbelieve if you can

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    It does not necissarily follow that we will be smashed by close of trade, hopefully there will be some panic selling of blue chips and buying opportunities will appear. Those who sold out a few months ago and are sitting around with cash in their pockets will probably be bargain hunting by mid mornings trade, I guess the All Ords will be ~4600 at close of trade.:2twocents
     
  5. chops_a_must

    chops_a_must Printing My Own Money

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    Why would we when have many more months of companies being starved of capital first?

    Not to mention divvy cuts.
     
  6. Tysonboss1

    Tysonboss1

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    a big plunge at open can set of an avalanche though,.. we have been down the last couple of days,... must be plenty of margin loans in buffer already.

    I have no cash available to buy today so I think I might just switch off, and see how we are at close.
     
  7. doogie_goes_off

    doogie_goes_off disbelieve if you can

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    Chops, the trick is to look out for the blue chips that don't need external capital, these guys usually catch the slide and you can get in for a near instant recovery. If you DYOR prior to these events then it can be quite profitable. I don't see dividend cuts for those with steady income streams who are still growing their capital. Maybe everyones eyes are a little to focussed on the financials.
     
  8. Aussiejeff

    Aussiejeff

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    Are you kidding? Not THIS little black duck!

    Personally, I think anyone who decides to "bargain hunt" the local cess-pool while Nero and the US Congress fiddles won't be getting any sympathy from me if they get their grubby fingers burnt to the bone over the next few days....

    Why would you want to gamble on the outcome of GWB's Final Emergency Solution To Ease Re-financing of bankrupt companies?

    :rolleyes:
     
  9. chops_a_must

    chops_a_must Printing My Own Money

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    I don't see any company growing their capital, do you?
     
  10. doogie_goes_off

    doogie_goes_off disbelieve if you can

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    There is no gamble where there is a way forward through domestic sales, there are plethora of medium sized companies to choose from. The ASX is a diversified index with plenty of places to hide!
     
  11. chops_a_must

    chops_a_must Printing My Own Money

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    Lol.

    Awesome. Centro is now medium sized too.

    I'm gonna plonk a few gorillas on them.
     
  12. gfresh

    gfresh

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    I would still be expecting another couple of days of 7%+ falls... Today a large fall, and tomorrow again for margin selling (although not sure how many silly enough still to be on margin) to be hit at least. While there was the headline fall, 1987 was spread out over a few days.

    Greatest concern should be that the credit markets will stay frozen, and the derivatives market could collapse. That's a lot more important that what happens in the equities market.
     
  13. doogie_goes_off

    doogie_goes_off disbelieve if you can

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    Chops, you can leave you hard earned gorillas in the bank. You can support the lenders who are still doing the dodgy deals if you like and hope that they don't end up insolvent. When a cat catches a mouse it must wait then pounce if the mouse is jumped straight away it will just run. It may not be today agreed, but I will be watching for any ridiculous over selling. Tomorrow is another day.:)
     
  14. Trembling Hand

    Trembling Hand Can be found on the bid

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    Derivatives market will not collapse the OTC market has already collapse.
     
  15. Nyden

    Nyden G.E. Money Genie

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    I'll be on the prowl today looking for something hit really hard; only a small buy. Simply because I do not believe the fed will allow for over a thousand points to be wiped over a couple of days. They'll have an emergency rate cut ... or something :D
     
  16. kenny

    kenny

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    As much as there might be "bargains" today. It's hard to open one's wallet to stump up and buy for me. It's really highlighted the deficiencies in my long term trading plan when I'm inclined to just hold off day after day despite supposedly compelling fundamentals of some of our smashed "blue chips".

    Good luck everyone and hold one for the ride.

    Cheers,

    Kenny
     
  17. BIG BWACULL

    BIG BWACULL

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    :couch
     
  18. deadset

    deadset

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    It could drop another 1.5-2% on a daily basis.

    Its a tough call to say buy now or to wait another couple of days. Maybe buy some now and keep some for later.

    Tell me you sold alot of those banks in the last couple of days.
     
  19. wayneL

    wayneL Rotaredom

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    jqqir5.png
     
  20. korrupt_1

    korrupt_1

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    Re: Prepare to get smashed - 1 trillion wiped of wall street

    The US Government has just shown the world how pathetic and incompetent they are. A bunch of wallies. Absolute garbage and the whole lot of them should be held accountable for this mess they've caused.

    If this was Asia.. they'll be facing the firing squad... I’ll be the first in line to pull that trigger...

    Totally irresponsible and a lack of understanding of the issues at hand.

    Without this bailout (or the term 'rescue' is preferred), the US will surely head for a deep and prolong recession. What idiot can't see that? What do the people in congress have to prove by objecting to this only life line?

    The ship is sinking (wall street)... you jumped ship to save your sorry little ass (acceptance that US Financials are is in deep $hit)... you are thrown a life buoy (bailout)... but because you are so dumb and pig headed (congress)... you refuse it and want to swim on your own (voted no)... there's only one outcome.. you're going to drown or get eaten by sharks... bloody idiots... :mad:


    STOP BICKERING AMONGTS YOURSELVES AND FIX THE GOD DAMN PROBLEM YOU'VE CREATED
     
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