ASX down how much

[davewill]

I will prob buy a few select shares today...had converted some investments to cash over the last year and 1/2. The cash currently invested has been good for us but the tax is ugly!
Will look at investing it over the next year, prob about 10% today. Market may still get cheaper, but I am essentially a long hold investor.

 

[nonrecourse]

The soft thump of the financial depression can be heard

EC, watching CNBC over the last few months, and I can't tell you how many of the so-called experts have continuously mentioned good time to buy. Stocks are cheap. Financials are cheap.

If people followed this advice, I suspect they would have choked on all the bargains by now.

Buzz I'm surprised at you, your acting like a D&G merchant. So do you still think that my calls on the soft depression, 2% interest rates, 30-50% drop in residential and commercial property values respectively and the ASX at 3500 is ?

Glad to see you have taken off those rose tinted glasses and are prepared to squint in the bright sunlight. In the next ten years we are going to see who are real investors and who are wannabes.

We have had 16 years of easy times when your monkey's uncle could make money. Pareto's principle is about to strike. Eighty percent of the posters on this site are going to go backwards in the next ten years.

If you have not been reducing your exposure and building a reserve over the last year you're in trouble. If your LOC money is in an offset account with the same bank your in deep s***.

I continue to see comments here and in the press that Australia will be protected from this. I suspect these same advisors have pink faries at the bottom of their gardens

 

[VYBerlinaV8]

I still contribute to my managed funds, knowing that I don't expect to do anything different for another 15 years or so.

I'm going to guess that the Australian market closes 4-5% down this afternoon.

 

[craigb]

the only rise on the us was cambell soup co, best buy of the day, today is get the hell out!

 

[simonjulie]

The reason I asked was out of ignorance...I have always been in property and only dabbled a bit with shares...... Ithought some of the hot shots might have sen a trend for some good bargains in the buy to hold camp coming our way....only because the baby will probably be thrown out with the bath water today....lol
my guess is that we won't be able to get near the broking table anyway....every experience I have noted of late is that when there is big money to be made or lost it is near impossible for poor ole me to get on line to do any damage to my wallet.
Cheers
Simon

 

[Ajax]

Desc Last Change (%)
FTSE 100 4,818.77 -269.70 (-5.30%)
FTSE 250 7,792.93 -481.51 (-5.82%)
FTSE 350 2,498.62 -141.62 (-5.36%)
FTSE All 639.61 -25.36 (-3.81%)
FTSE AIM 100 3,030.62 -155.64 (-4.88%)
Nikkei 11,743.61 -149.55 (-1.26%)
Hang Seng 17,880.68 -801.41 (-4.29%)
Dow 10,365.45 -777.68 (-6.98%)


Reckon the ASX will open down 250 points may come back to down 120 points by close.

A fall on the Dow of 777 points is huge.

 

[austini]

Well I'm all for buying Fosters and Lion Nathan. I think there will be a lot more alcohol drunk in coming months The Health Sector should also be a good bet after excessive alcohol consumption takes its toll

 

[WinstonWolfe]

SF, my capital preservation strategy is oil. Though the minors would still be a worry if they rely strictly on capital raising to pump.

Suppose I should have considered gold too. Should be $1000+ by end of week.

Demand for US T bills is so high now that some are giving negative returns - i.e. bought for 100 for a future return of 99. Wait until the Asians and Arabs see the US consumer and asset prices are stuffed for the medium term.

 

[lizzie]

well - i bought a fair bit last week in a mining company with a large asset base, not debt and good long term contracts with china. i'm not worried as the fundamentals of the company are strong ... my only regret is that i wish i bought this week instead as would've got more shares for my dollars.

 

[craigb]

the dow lost 7 TRILLION dollers , this is the biggest fall ever recorded in us history, if it were me i would be removing all exposure to day, and parking cash into a term deposit for a bit and waiting for the market to correct itself.
You dont have to buy in to the bottem of a market on the way up is just fine.

 

[letiha]

Well ASX is going to have a staggered start this morning.

Please be aware that the opening phase for the ASX Market will be extended today.

The following changes will apply for Tuesday 30th September only

The time between each group opening during the 10.00 AEST opening phase will be extended from 2 minutes and 15 seconds to 4 minutes.

Equity Market 1 A-B - 10.00 + 15 secs
Equity Market 2 C-F - 10.04 + 15 secs
Equity Market 3 G-M - 10.08 + 15 secs
Equity Market 4 N-R - 10.12 + 15 secs
Equity Market 5 S-Z - 10.16 + 15 secs

 

[simonjulie]

So...where is the good news in all this?
What opportunity is lurking...Beer shares? interesting...Hmmmm? Health probably will become and issue like you say. after the effect of the beer drinking takes its toll.
One market contrarion suggested that governments (or those who run them) often try to take the peoples mind away from something like this with the invention of something bigger...like awar...an epidemic....I have some Biota shares that I bought last year at their year low but they dropped in half...the flu was not big enough news to spur market emotion in their direction...maybe it is time for something like ...I mean really big!...an alien invasion!...lol

 

[craigb]

the only good new i can see is hold your cash and wait for the bouncing sound, if you can do this you on a winner, how long ??????

 

[Spectre]

my guess - big drop then closes 318 lower

what were those fundamentals again...

 

[evand]

Why do you need to do anything with your money? Stick it in cash @ 8% and wait for a while. Why do people think they always need to be doing something? Buying shares. Buying houses. Is it like a hobby? Is it part of you overall strategy?

As much success in investing is made deciding not to buy as when to buy.

On what fundamental or technical basis did you buy your NAB shares? Saying 'i bought low and sold high' is fluking it. Its easy to say that in hindsight.

Evand where do you suggest we invest our money if shares are bad and property is bad?????

I didn't fluke my profit, I brought when my shares were down, sold when they went up knowing they would come back down in the turbulence. If I buy today and it takes a while to go back up...well fine with me.

 

[sue78]

Buy a plasma tv, a new car or go on an overseas holiday...it's better than buying shares atm.

Letiha - I thought you were going to keep it for the long term. So glad you sold them last week! Westpac would be a better buy than NAB.

Without a bailout, I think all the companies with bad debt and management will be exposed and crumble and the sound ones will get past this crisis. It's like a spring clean which the market needs anyway.

I think maybe one Oz bank may become a scapegoat and that would be likely be NAB because they have the largest exposure but it's still very comparatively and with the ban of short selling, they will be fine.

Westpac is sound and has a strong balance sheet. If I was buying long term I think that's where I'll put my money.

How does foreclosures works? I was on a US parenting forum and many were saying they had lost their homes or due to be in foreclosures. The market is so slow atm that if you don't sell your house within a certain period of time, it will go to foreclosure. Surely, they can't implement better regulations in place like accepting reduced payments for a period of time until the house is sold? or is it the homeowner preferring to go to foreclosure? One main thing is that almost all the women there said there house was worth less than their mortgage

 

[willair]

The best way would be just wait and see what happens over in the US OVER the next few days but i'm not buying anything just yet,but if one of the big 4 banks takes a hammereing again then i would buy a small amount on the div's ect..IMHO..willair..

 

[oc1]

On what fundamental or technical basis did you buy your NAB shares? Saying 'i bought low and sold high' is fluking it. Its easy to say that in hindsight.

Fooled by ramdomness.

 

[WinstonWolfe]

Staggered start today.....hmmmmmm

ASX need some fatter data pipes and bigger servers.

What's the probability we'll see a suspension of trading for a week or more on the US market and ASX before end of year?

 

[letiha]

Well you can read why reasons why i bought it on a previous post, and I stand buy it. I believed that the yeild was good and it was good buying at the time.

P.S Thanks for your concern on how I spend my money, nice to see that you care. Also funny how precious metals keep coming up...and the ones suggesting it are the ones who already own it and want the price to go up.