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The official "ASX is tanking!" panic thread

Discussion in 'ASX Stock Chat' started by RexBudman, Aug 5, 2011.

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Aussie Stock Forum Sentifi Top themes and market attention on:

  1. Struzball

    Struzball

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    I'm not too sure we actually disagreed :)
     
  2. lenny

    lenny

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    Markets not looking good technically.

    Red night tonight on DOW would see it break down out a bearish flag and looking at making a lower low.

    With the XJO breaking support today 4070 we will probably test AUG 9th low if the yanks put in a bad night.

    If markets do make a lower low it could spark some more panic selling, will the big boys buy up or head for the exits.
     
  3. LostMyShirt

    LostMyShirt

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    Red on the Dow tonight for sure - Euroland is tankin...
     
  4. LifeChoices

    LifeChoices

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    I went on a bit of a buying spree this arvo. Didn't really get exactly what I was after, but feel ok with what I ended up with. I bought equal parts of EGO, MIN and BHP. I hope to turn over some of my stock on the bounce - if there is one. Otherwise I'll just sit it out and wait for my gold and silver stocks to make me rich beyond my wildest dreams.

    If all else fails I've still got close to 2K and am heading to the U.S. in October where I'll buy boxes of these - and will get rich that way - pretty cool eh!

     
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  5. LostMyShirt

    LostMyShirt

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    Put me down for 5000
     
  6. tech/a

    tech/a No Ordinary Duck

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    Nothing has changed---- lots of discussion---- but nothings changed


     
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  7. Dutchy3

    Dutchy3

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    How is it we clearly tanked out on the index and yet virtually all the bigger Oz stocks failed to make new lows? I see divergence ... Coupled with that crazy drop off day in August so near term support ... Not advocating any long positions (I bailed on RSG at the close ... so now flat). The DJIA futures do look sick but again the main players in the US are not making new lows at the same time. If I was to go short (and Im not going to) the index and the stocks need to reconcile, and from what I can see they do not.
    Only thing certain for me is that whiplash will be the main complaint in the next little period.
     

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  8. skc

    skc Goldmember

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    IMO the stocks that will bounce are the high(er) quality ones. GFF, PLA and FXJ are dogs for all seasons and will probably lag in any bounce. The gold shares (RSG, NCM, BDR, RED, IGR) haven't really fallen so not really bounce candidates either. FGL, TTS and TLS are pretty steady usually so again not great bounce candidates. DXS, MAP, IOF are more related to the interest rate cycle and won't have huge bounces compared to some.

    That leaves FMG, LYC and AIO on your list as decent bounce opportunities. But if you just want to trade a bounce then XJO is probably as good an instrument as individual shares.

    Something has changed... we are getting closer to D-day. The Germans are starting to think that they can let Greece fail. They are probably still trying to determine the extent of the short term pain before they pull it.
     
  9. skc

    skc Goldmember

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    The index hasn't made new lows. The index is made up of stocks so by definition they must and do reconcile!
     
  10. tech/a

    tech/a No Ordinary Duck

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    Let me rephrase my statement.

    Nothing has changed from my original Elliott Analysis.
    The initial count is still valid.
    Alternatives haven't played out.
     
  11. satanoperca

    satanoperca

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    I will go against the current and call for a green day, abiet just, on the XAO tomorrow.

    Could be wrong but then again, when everyone tells you the world is ending, the majority are often wrong.

    Happy trading.
     
  12. nulla nulla

    nulla nulla Positive Expectancy

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    No doubt there will be some "panic" buying this morning, creating a bounce for those wanting to get out.
     
  13. skc

    skc Goldmember

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    Good call. The US market these days has a tendency to creep up after Europe's close. Apparently now the Chinese will bail out Italy... what's next, Ferraris rebadged as Great Wall?
     
  14. Aussiejeff

    Aussiejeff

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    Apparently not just Italy but also Greece..so much for China wanting to sit out the Euro-mess and forge their own version of Nirvana. Now it appears they have NO CHOICE but to get their hands grubby with filthy Euro lucre.

    Just one inevitable step closer to the endgame IMO. The Chinese have discovered there is no place to hide on this planet.

    Oh well, their tardy intervention & market manipulation should enable some beer and skittles before the Big Bang somewhere down the track...

    Let's party! :D
     
  15. satanoperca

    satanoperca

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    Shorts off one day shorts on the next.

    Glad I live in Melbourne and are used to changes in the weather. lol

    happy trading
     
  16. Struzball

    Struzball

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    Whilst the USA might think China bailing out Europe is a good thing, Europe sure as hell don't. FTSE and DAX not looking good atm.

    All ords were pretty uninspiring today.
     
  17. satanoperca

    satanoperca

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    Calling another green day tomorrow. Just fantastic how so many people get it wrong so often including myself.

    Happy trading.
     
  18. Muschu

    Muschu

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    I get it wrong too... A special skill! But forget tomorrow and try a really long time frame in this market -- like a week?
     
  19. skyQuake

    skyQuake

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    Very whippy market.

    -BNP Paribus unable to borrow in dollars anymore - seeking out euros.
    -Then report denied.
    -French/German will come to agreement on Greece by Tues
    -No such agreement exists.

    Wild swing fun!
     
  20. satanoperca

    satanoperca

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