ASX down 150 at lunchtime.......

Probably RBA is buying....

 

The Private Puppet Masters are hard at work trying to Destroy the US Dollar.

Private Bankers having fun you think giving out to easy credit to people who cannot afford the loans.

 

because most people seem to be thinking with their balls when investing rather than their brains.. like today, the market was full of balls thinking people.. thinking with their wrong head!

 

Few comments..

Few comments I found in the cyber space,

Aussie Mining Sell-Off Could Feed To Metals-ANZ Accelerating Australian mining stocks sell-off is adding to negative sentiment in global equity markets and negative feedback for base metals market is also building, says ANZ analyst Andrew Harrington.
Concern is that credit market contagion in the U.S. eventually feeds into wider economy, could negatively impact housing market, ultimately lowering metal consumption. BHP Billiton (BHP.AU) down 4.2%, Rio Tinto (RIO.AU) down 2.5%, Jubilee Mines (JBM.AU) down 9.2%, Zinifex (ZFX.AU) down 4.8%. LME bellwether 3-month copper last trades at $7,292/ton, down $12 vs PM kerb

The Sydney Futures Exchange said Thursday that it will halt all trading at 0245 GMT for between 45 and 75 minutes to rectify a hardware problem. What a time to choose to repair the system , going to see a few stressed traders on the floor if the market keeps dropping

How analysts missed a meltdown
How analysts missed a meltdown - MSN Money

 

So would that be the buyers or the sellers that are using the incorrect bit??


Those that bought at the bottom today are already sitting on some nice profits!

 

Hopefully Navra did.

 

The sellers!

cunning investors were buying today.. I was happy to buy LGL today at a nice discount.. but missed out on ZFX @ $14

CBA under $50 was also good buying with a dividend due.

 

Some of my stops have been creamed this week, all I have got left is a few stragglers that i was holding some decent unrealised profit on, with their stops at breakeven not yet hit.
For me its licking my wounds and learning the lessons i can get from it rather than knee-jerking and making even more silly decisions!
nowhere near enough knowledge/experience for me to start shorting, although that would probably not be the worst idea at the moment.

 

I think you will find that it also has to do with some 'Fat Fingers' in the futures market.... Some incorrect trades caused a panic and 'automatic trading'... Seems to have recovered in the late PM.

Fun times.... !!! Some valuable lessons being learnt by the new traders at the moment



DaveJ

 

Hi All,

Long time lurker, first time poster. Just wanted to add that the SFE was closed down between 12.45 and 2.05pm.

I read somewhere, that because it was closed the big end of town couldn't use futures contracts to hedge their market exposures, so they sold down direct shares during this time. Hence the big drop and subsequent recovery once the SFE reopened.

 

"The Sydney Futures Exchange said Thursday that it will halt all trading at 0245 GMT for between 45 and 75 minutes to rectify a hardware problem.
What a time to choose to repair the system , going to see a few stressed traders on the floor if the market keeps dropping"

 

I confess I put my balls in today and bought some BHP, ZFX, OXR and HST. If it goes south tomorrow I may buy some more. These companies have reasonable P/E's and are genuine producers. I'm up with my buys at the moment.

Anyone else buying yet?

MJK

 

Agree with you on the first two - BHP, MBL and ZFX,oversold bigtime IMO

I got caught up in that lunch time bullsh*t with the SFE. BHP was trading at $32.11 at one stage, couldn't resist, got in, saw the market crashing, panicked, didn't understand what the SFE closure would do, sold out at a manageable loss, only to see it falll to $31 XX and close at $33 XX ....doh...doh...doh.....

Would have done the same with ZFX, had I not been sh*tting my daxs.

Well done if you profited from this abberation

 

Started buying yesterday, too early

Just about out of funds now - will have to be extremely selective tomorrow.

So many bargains so little money

 

i just made my first bid for 100 MBL shares (market is closed) SCARED! all new to me only a small amount but its a start!

wish me luck !

 

"wish me luck ! "

Luck has nothing to do with it.
Luck is 4 letter word.

Anyway....Good Luck....you may need it!

 

I'm no expert and not qualified to give finanicial advice, but if you are scared, don't, don't, don't do it.

Having said that, I topped up on MBL at $73 last week thinking it was a bargin, so if you pick up lower than me, then you don't need to ask my advice.

also, if you are really a newbie and not someone playing games.... you can't place bids at ie market price, outside ASX trading ie 10 am - 4pm.
If you really wan't to buy MBL at the price you nominate then you have to place a " limit" order. You obviously have an online trading account, check it out there, go to go, FTSE beckons

 

Should post here more often, my FTSE short just improved by 65 pts while I was typing

 

Probably a result of RS CPI number from the US that was due out 9.30 pm Sydney time, can't find any refernce to it on the net, anyone ???

 

Are you talking about BONGO and ML ?

Bongo, You are a very brave man, I took my first Long of the day at 5907 with a stop at 5875. I'm already bricking it. He He.

Good Luck to you.

ML

Re: 3RD LONG 5890

paddy101

good luck bongo I hope you don't get caught on this my stop hit and I am staying out for today. If you keep averaging down eventually you will get seriously burnt. Remember survival is rule no 1


Bongoman from the Jungle

Average now 5930 3 positions 5970 ,5930, 5890...

Lets see where we go...good luck folks

Bongo

PJA....This guys are hilarious...