• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

The official "ASX is tanking!" panic thread

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

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

  1. Struzball

    Struzball

    Posts:
    277
    Likes Received:
    32
    Joined:
    Mar 1, 2007
    Nearly stayed below 4050 all day.

    I didn't expect that jump at the very end. What was that about?
     
  2. Nero64

    Nero64

    Posts:
    227
    Likes Received:
    0
    Joined:
    Aug 23, 2008
    Buying in yesterday when our market finished 50 points down and the FTSE and DOW futures down is just pure luck. No skill, just blind guesing. The same guessing that has lead to people buying at 6800 in 2007 and 5050 earlier in the year and then holding on.

    In fact the DOW last night looked like it was going down mid morning then it staged a rapid advanced.

    The market did well today. Maybe I should've bought in as we head towards 6800 again.
     
  3. Chasero

    Chasero

    Posts:
    480
    Likes Received:
    0
    Joined:
    Aug 29, 2011
    Wow. I'm guessing a lot of people think we have bottom yesterday/Friday!

    Who knows! The rally today was huge!
     
  4. PinguPingu

    PinguPingu

    Posts:
    372
    Likes Received:
    16
    Joined:
    Jan 13, 2011
    Lynas just cut its giant fall in half...in one day. By the end of the week it could be back around $1.60-70 or down at 50c. Who knows these days.
     
  5. Chasero

    Chasero

    Posts:
    480
    Likes Received:
    0
    Joined:
    Aug 29, 2011
    It's on a very springy trampoline :)
     
  6. Struzball

    Struzball

    Posts:
    277
    Likes Received:
    32
    Joined:
    Mar 1, 2007
    It was A bottom, yes, that's what makes today's action a bounce.
     
  7. nulla nulla

    nulla nulla Positive Expectancy

    Posts:
    3,578
    Likes Received:
    119
    Joined:
    Sep 24, 2008
    European markets open:

    FTSE 100 England +112.46 +2.21% 5,201.83 4:13am ET
    DAX Germany +180.33 +3.37% 5,525.89 4:13am ET

    DJIA futures as at 6:44pm Sydney Time +89

    I suspect that the "panic tanking" might be on hold again tomorrow. This morning I thought that the xao would recover yesterdays losses and maybe a bit more, topping out arround +90 before fading back. Never expected 135. Nice finish.
     
  8. Billyb

    Billyb

    Posts:
    240
    Likes Received:
    0
    Joined:
    Dec 21, 2010
    That pretty much sums it up.
     
  9. FreshTrader

    FreshTrader

    Posts:
    57
    Likes Received:
    0
    Joined:
    Sep 13, 2011
    Chasero, looks like you were right in predicting LYC's high, not sure where the price will go from here.

    Just wishing (as everyone probably is) that I'd bought some LYC shares yesterday. Finished up 35% higher than yesterday!!! Could have taken one hell of a holiday with a capital growth such as that in ONE day :rolleyes:

    If LYC shares get to 50c I will definitely be jumping on board. However, who knows what the rest of the week will bring...
     
  10. skyQuake

    skyQuake

    Posts:
    2,904
    Likes Received:
    45
    Joined:
    May 1, 2007
    Not blind guessing at all. If you'd paid attention to some of the stocks being sold down, it felt like relentless liquidation. Ditto for gold. Banks were up so you'd know it was only crap that was being sold off, rather than a general downmove.

    Then again you could have bought this morning. fwiw futures started to turn up after the aussie close. (DOW futs were down cause Hong Kong and Aus were down) Commodities and global futs all rallied thru the UK session.
     
  11. Chasero

    Chasero

    Posts:
    480
    Likes Received:
    0
    Joined:
    Aug 29, 2011
    A lot of the charts are saying that since we broke the 4,000 level, shares are most likely to rally upwards to 4,200-4,300 again.

    I still think it's too risky to even attempt to trade and hold overnight with shares such as LYC, even though i THINK it'll rally more tomorrow. (Maybe even to the end of this week!?)

    I tend to be more realistic. Bear markets have huge swings and I'm not going to be caught on the wrong side of one. I'm not that much of a risk taker :)
     
  12. Muschu

    Muschu

    Posts:
    1,209
    Likes Received:
    45
    Joined:
    Feb 9, 2008
    Very difficult to talk to any long time frame atm. Tomorrow looks OK. After that???
     
  13. McCoy Pauley

    McCoy Pauley Get out of here Budweiser!

    Posts:
    616
    Likes Received:
    0
    Joined:
    Nov 12, 2009
    There is a very convincing article in yesterday's Eureka Report that suggests that the Australian indices are on the precipice of a very steep bear market decline and rallies like today should be taken advantage of to lighten holdings in equities.

    The article had charts, candles and everything. :eek:
     
  14. PinguPingu

    PinguPingu

    Posts:
    372
    Likes Received:
    16
    Joined:
    Jan 13, 2011
    Heh, I doubled by LYC holdings and bought in yesterday in the low 90c range - average price about $1.30 now. Of course, there's no way I'd be doing this if I was anywhere near retirement age.

    Anyway, Italy's sold a nice chunk of debt and Gold, Oil and US futures are up. It's like the skies just cleared again, but for how long will this mood last :)
     
  15. Muschu

    Muschu

    Posts:
    1,209
    Likes Received:
    45
    Joined:
    Feb 9, 2008
    I think we had a seasoned poster here suggesting the market will trade sideways for some time. That does not appear to be an uncommon view.

    Plus there have been suggestions to sell into strength.... [No issues with that]

    I am not a risky trader, am probably older than most ASF subscribers, and there seems to be nothing definitive [in fact the contrary] coming out of Europe.

    I also take particular note of ASF subscribers who acknowledge not having found the perfect path. Those who infer consistent success should perhaps take over the IMF....... as Step 1.
     
  16. Tyler Durden

    Tyler Durden

    Posts:
    1,140
    Likes Received:
    25
    Joined:
    Dec 24, 2010
    Spot on.
     
  17. LifeChoices

    LifeChoices

    Posts:
    371
    Likes Received:
    2
    Joined:
    Apr 14, 2011
    Ahh, what are you so worried about... Europe is all fixed up now. Why else is the market skyrocketing towards 5,000?

    If tomorrow is anything like today, you'll have easy pickings. Do you really want to miss out on all the bargains?
     
  18. stacks

    stacks

    Posts:
    77
    Likes Received:
    0
    Joined:
    Mar 10, 2011
    Care to post some of your charting analysis? Or do you mean some other peoples analysis that you have read which includes charts, says rallies are likely?
     
  19. Muschu

    Muschu

    Posts:
    1,209
    Likes Received:
    45
    Joined:
    Feb 9, 2008
    Have fun with the bargains LC. Want to name 5?

    For me I prefer to wait. Doesn't mean this is the right path or the best call for others.

    http://www.marketwatch.com/story/de...er-2011-09-27?siteid=bigcharts&dist=bigcharts
     
  20. Chasero

    Chasero

    Posts:
    480
    Likes Received:
    0
    Joined:
    Aug 29, 2011
    I read quite a few charts and blogs such as:

    http://cobrasmarketview.blogspot.com/

    http://www.avidchartist.com/

    One blog called macroeconomcis where "Prince of Equity" posts, and others.

    I'm at work atm and don't have it favourited, but I'll look it up tonight.
     
Loading...

Share This Page