Trading Houston ...

Discussion in 'Share Investing Strategies, Theories & Education' started by Tropo, 27th Jul, 2007.

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  1. Tropo

    Tropo Well-Known Member

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    Houston ... we may have a problem...:eek:

    Currently DOW is down 408 points.
    Have a nice weekend :p

    Edit:The Dow Jones Industrial Average fell the most since February, while the FTSE 100's biggest drop in four years led declines across Europe. Benchmark stock indexes in Argentina, Brazil, Mexico, Turkey and Sweden sank more than 3 percent.
    Currently DOW = - 361
     
    Last edited by a moderator: 27th Jul, 2007
    Tropo, 27th Jul, 2007
    #1
  2. DaveA__

    DaveA__ Well-Known Member

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    uh oh......

    any economical news behind why this is???
     
    DaveA__, 27th Jul, 2007
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  3. Tropo

    Tropo Well-Known Member

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    Bloomberg.com: Worldwide
    Also our dollar is at 0.8710 (dropped approx.140 pips last night:D).
    DOW = - 311
     
    Tropo, 27th Jul, 2007
    #3
  4. Redwing

    Redwing Well-Known Member

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    US stocks plunge on credit fears | NEWS.com.au Business


    Affecting Australia as well?

    US subprime mortgage crisis hits Aust funds - ABC News (Australian Broadcasting Corporation)
     
    Redwing, 27th Jul, 2007
    #4
  5. Rick__

    Rick__ Well-Known Member

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    That must be about 500 for the week, and they still have 1 trading day to go.

    BANK!!!....BANK!!!......I need more money!! :D
     
    Rick__, 27th Jul, 2007
    #5
  6. Rick__

    Rick__ Well-Known Member

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    "Housing market fears"

    I'm glad the whole Rinker thing is finished. I'd hate to see how the share price would have stood up to this.

    Now, if the Mexicans would just send me the rest of my money I'd be happy.
     
    Rick__, 27th Jul, 2007
    #6
  7. Bandy

    Bandy Member

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    Time to buy!

    I've got some more cash waiting to buy additonal Navra units, and now seems a good time. Does anyone know what days unit price you get if you wander in off the street with your form and a cheque? Do you get yesterdays close price, today's close or something different.
     
    Bandy, 27th Jul, 2007
    #7
  8. Tropo

    Tropo Well-Known Member

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    Possibly :eek: we hit bottom for now (6092).
    My level for today is set at 6077/72.
    We'll see ...;)
     
    Tropo, 27th Jul, 2007
    #8
  9. coopranos

    coopranos Well-Known Member

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    OUCH!!
    That is nasty!!
    Wicked time to start trend trading!
     
    coopranos, 27th Jul, 2007
    #9
  10. Tropo

    Tropo Well-Known Member

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    Watch your stops...and check US market tomorrow.:p
     
    Tropo, 27th Jul, 2007
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  11. MichaelW

    MichaelW Well-Known Member

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    Yep,

    I agree. Its a big correction and one based on concerns in the US around credit squeeze as a flow on from the failures in the sub prime mortgage market. Lets just hope that credit squeeze doesn't eventuate and result in profit downgrades in the US across the board. If that happens then the global economy will suffer to the same extent.

    I think the credit squeeze argument is over-cooked, but maybe that's just the bull in me coming to the fore.

    Tropo, what's your support levels on a long term channel?

    Cheers,
    Michael.
     

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    MichaelW, 27th Jul, 2007
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  12. coopranos

    coopranos Well-Known Member

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    No stops hit yet, but definitely a lot redder than it was last week!
     
    coopranos, 27th Jul, 2007
    #12
  13. Tropo

    Tropo Well-Known Member

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    Good news !!!!!:D
     
    Tropo, 27th Jul, 2007
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  14. Tropo

    Tropo Well-Known Member

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    We are still well in the range (weekly chart).
    I did not run my numbers as yet (I see supp.around 5861 + -) but as long as XJO is above 6000 not to worry.
     
    Tropo, 27th Jul, 2007
    #14
  15. Brengun__

    Brengun__ Active Member

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    Hehehe, thanks Tropo, you started my day with a giggle. :D

    Yesterday ended $5k down, and today another $13.8k. Still plenty of profit in the portfolio yet. Nothing really turned my head in terms of wanting to buy in though. At 3.50pm I bought a few PPT shares which actually showed a small profit on closing.

    I must remember bank interest comes out next Tuesday and it will be 32 days interest this time. I don't want anything overdrawing, those fees are nasty.:eek:
     
    Brengun__, 27th Jul, 2007
    #15
  16. Rick__

    Rick__ Well-Known Member

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    Whats a stop! :p

    Went shopping today, came home with some more MCR and got some RIO, as well as a punt on a speccy miner :eek:

    Worst thing about these sort of pull backs happening on a Thursday (US time) is that we have to wait to Monday to react to their Friday. :rolleyes:

    Good luck to all those invested in the market! Roll with the punches. :)
     
    Rick__, 27th Jul, 2007
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  17. Rick__

    Rick__ Well-Known Member

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    Hopefully the Navra fund will be putting some of that cash to good use.

    PPT is a good buy Brenda. I've been holding it for about four and a half years. With all the money pouring into funds they should go ahead well.
     
    Rick__, 27th Jul, 2007
    #17
  18. coopranos

    coopranos Well-Known Member

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    Stops help me from getting punch drunk rolling with the punches!
     
    coopranos, 27th Jul, 2007
    #18
  19. Rick__

    Rick__ Well-Known Member

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    I tried them once, didn't work for me. I like it when everyone else uses them though because as their stops get hit it gives me an opportunity to buy. :p

    Geez I hope this doesn't start a stop loss argument, because that would be a dead loss. :D
     
    Rick__, 27th Jul, 2007
    #19
  20. coopranos

    coopranos Well-Known Member

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    So they didnt stop you out of your position and limit your losses?

    You are a braver man than I!
     
    coopranos, 28th Jul, 2007
    #20
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