ASX crash? (#2)

[Vesuprop]

Hey Bluestorm,

Can you screenshot your trading report for us?

Black out your name and address. We're not coming to mob you.

Either that or your start posting details of your buy orders as you enter them. It's a bit more believable that way. Your very own trading blog with thousands of adoring fans.

 

[MangoMadness]

It's a bit more believable that way. Your very own trading blog with thousands of adoring fans.

Does it really matter?

Personally I like reading his posts as I find them entertaining and a good story. Its like a commentary on a football game, his opinion changes as the game is played and more information comes to light just like football commentary.

And maybe like some commentators he conviently ignores past incorrect predictions, but that comes with the territory doesnt it?

 

[lizzie]

Does it really matter?

I agree - getting a bit personal.

I'm quite happy to take his word for it ... and more than willing to accept that opinions change as more information, or direction of external factors, comes to light.

 

[dan c]

And maybe like some commentators he conviently ignores past incorrect predictions, but that comes with the territory doesnt it?

We all get predictions wrong, but I think if Bluey admitted his wrong calls, rather than trying to rewrite history, he would get more respect, and people might take his predictions a little more seriously.

 

[dan75]

Hey Bluestorm,

Can you screenshot your trading report for us?

Black out your name and address. We're not coming to mob you.

Either that or your start posting details of your buy orders as you enter them. It's a bit more believable that way. Your very own trading blog with thousands of adoring fans.

I don't think this would benefit anyone. Sometimes it's obvious the market will sell on open. It's not every weekend that the US rating gets downgraded.

I remember the China meltdown of 2007. All I did was reverse my long positions on open and all of a sudden I was making a nice profit while everything was free-falling. I didn't need a crystal ball for that. Just common sense. Yet, later that day I talked to several people whose accounts had been totally wiped (we were trading CFD's and Futures back then) out. Entire life savings were taken. They traded with hope even after the market had fallen way below where their stop-losses should have been. The market has no mercy and when that happens you have no-one to blame but yourself.

 

[morpheusbushy]

Is anyone buying for the increase in dividend yield's as a result of the sell-off the past week? nab now is paying around a 7.2% dividend yield - is it just me or can you not go wrong with this?

 

[Belbo]

I wouldn't say Bluey is setting out to intentionally mislead anybody. He's just doing his thing. He is possibly harping on about how clever he is at it, which really clever people don't generally do. That's probably the worst of it, and while irritating for us non-traders, it's forgivable if he's bringing home the bacon.

I can't say I don't succumb to bragging at times here when I think I've nailed something despite the odds. All of us do it; let's be honest. That's part of the fun in posting here.

Perhaps Bluey just needs to accept not everyone has his tolerance for immediate risk (trading) but can still live with comparatively high risk (property investing in uncertain times), and that doesn't make them lesser mortals.

I know for a fact that there are a lot of smarter people on this forum than either Bluey or I, most of whom you won't even see on this sort of thread.

 

[twobobsworth]

Is anyone buying for the increase in dividend yield's as a result of the sell-off the past week? nab now is paying around a 7.2% dividend yield - is it just me or can you not go wrong with this?

QBE over 9%

 

[morpheusbushy]

QBE over 9%

Nice, i'll check it out. The other ones i'm looking at are TLS, MAP, BHP & ANZ...

 

[Sunfish]

Nice, i'll check it out. The other ones i'm looking at are TLS, MAP, BHP & ANZ...

Why? Cheaper than y'day doesn't mean CHEAP as they will be.

DOW futures down heavily again ATM. The "property mentality" does not transpose well into stocks. The volatility can make your head spin while property investors seem to have a tranquility which transcends such daily concerns.

 

[morpheusbushy]

Why? Cheaper than y'day doesn't mean CHEAP as they will be.

DOW futures down heavily again ATM. The "property mentality" does not transpose well into stocks. The volatility can make your head spin while property investors seem to have a tranquility which transcends such daily concerns.

Yeah absolutely, but I'm not an expert so whilst the dividend yields are attractive I'd rather buy now for the long term than wait for the market to bottom out - which I have no idea when would happen.

 

[Sunfish]

Yeah absolutely, but I'm not an expert so whilst the dividend yields are attractive I'd rather buy now for the long term than wait for the market to bottom out - which I have no idea when would happen.

No! None of us know where the bottom will be. Why do you want to be a hero and pick it?

Trust me, I've tried it: buying a stock because of it's div return and promptly losing the value of the next couple of years cheques in a month or so. It's not a feelgood situation.

Only a fool (sorry, that's harsh, me too) buys div return in such volatile times.

If you MUST do something, buy gold: up 41% for the year and this is a trend you can trust. (IMHO)

 

[willair]

Why? Cheaper than y'day doesn't mean CHEAP as they will be.
.

They may well be a lot more cheaper in a few days depending on the likely market forces now and in the future and fear overtakes greed,one lower end state bank is down now over 43%..

 

[Sunfish]

They may well be a lot more cheaper in a few days depending on the likely market forces now and in the future and fear overtakes greed,one lower end state bank is down now over 43%..

I have real fears about where we are headed. There is comfort in cash ATM.

 

[morpheusbushy]

No! None of us know where the bottom will be. Why do you want to be a hero and pick it?

Oh I never said that, I have no idea where the bottom is or in which direction they are headed!

 

[willair]

I have real fears about where we are headed. There is comfort in cash ATM.

It's only going one way and that's down,too what levels will depend on how far the real China market is hit and tested..

 

[Sunfish]

It's only going one way and that's down,too what levels will depend on how far the real China market is hit and tested..

I have just established a broking account with a US broker. Trades cheeep as chips.

Twice I've bought into RIO, twice I've abandoned ship. Like bushy I want to own profitable companies just not at any price.

 

[Aaron_C]

Why don't you just trade with CFDs on the NYSE? It's far cheaper

 

[Sunfish]

Why don't you just trade with CFDs on the NYSE? It's far cheaper

I haven't been able to get it to work but there is much I don't know..

You can't trade CFDs directly on the NYSE and you cant trade the Canadian markets through IG Markets. I have an over-riding need to trade options on the TSX. As far as I know Interactive is unique in that I can buy (with discount brokerage) into an account with margin available and write calls against my holdings.

I really don't need the leverage available with CFDs.

 

[Intrinsic_Value]

one thing i will say, re the australian stock market, there are alot of GOOD stocks out there, that are just getting shot to pieces.

Yes times are tough, but they are not as tough as indicated by some of the share prices.

In the current market one has to remember:
(a) after the GFC for many people its shoot first, ask questions later
(b) financial derivative products of one form or another are used to short the market. These are cannons, they dont discriminate between 'good' companies and 'poor' companies. They just blast everything down.
(c) people are getting margin called now, so this adds to selling presure.

When the dust settles, the 'good' companies will rise very fast.

Each person has to take care of their own financial affairs.

For myself i have to further reduce leverage because this has the potential to get really nasty, valuations will take second place to the 'exit sign'.

But i am not going to cash, not at these levels, worst case i have to make further hard decisions, and sell some, and go to a debt free portfolio and then sit on the sidelines.

PS for the above post, QBE is a 'good' company.
One with one of the best management in the world for an insurance company.
This company is run on 'buffett' principles.
I havent been in this company recently because of the rise in the AU$, but i took a position at $14.6 which i will hold ( will sell other shares before i sell this one, this one can go into the 'bottom draw')