Only 483 point drop still to go!!!!

[whatsup]

Only 483 point drop still to go before the 2003 /4 AXS level is reached at which stage te AXS will level out and stabilize wallowing along for 3 years some days up some down, but who would have thought a year ago that this would/could have happened. From now on there are "investors" out there that will NEVER TRUST the share marker again, why risk the BS system when you can get 6-8% + for no rick what so ever with a bank deposit.!!!

[KW]

I thought! I sold up January 2007 on the NZX and June 2007 on the ASX.

But I have been slowly buying back since the market went under 4800. Which has turned out to be way too early, so now I'm averaging down :-)

[ELYOB]

Interest rates in Australia are too high . The markets cant handle this as the brakes are full on . 5.25% should be lowered to 3.5% forthwith to stop asset deflation . Asset deflation will now feed on itself , and debt problems will be worse. Problem stocks drag down the good with them with the sentiment ...........

[Stranger_Danger]

Elyob - Yeah, they do....drool.

[KW]

If the old adage that a market gives back 50% of its gains in a bull market, then we have gone past the point of handing back 50% of the gains since 1975!!!

[POSSUM THE CAT]

All the panic interest rate reductions is actually frightening the market. So if one thing does not work do something different like putting the interest rates up about 50% from where they are now. It is the stupid low interest rate that have caused all the bad investment decisions that we are paying for now.

[Shrewd Crude]

possum the cat...
you could not be more wrong
:cool:
.^sc

[KW]

Please dont - I am drawing funds down to buy at the moment, and am very pleased my borrowing rate is only 7.52% :-)

The level of margin calls and fund redemptions must be astronomical at this point! Which probably explains much of the extreme selling. Because really, if you didnt have to, why would you bother selling now? Far too late.

I'm expecting at least a bounceback rally coming soon.

[Dr_Who]

I'm expecting at least a bounceback rally coming soon.

The bounce back has already started. Aussie market in positive. :):)

[KW]

How was that for prescience? :-)

[dragonz]

The bounce back has already started. Aussie market in positive. :):)


At 1pm NZ time the All Ords was 3% down. I checked in again at 4pm it was moving into positive territory. For some strange reason at about 2pm Aus. time the Aussie banks (which where all negative) bounced back.

Any idea why?

[ratkin]

They expecing a dow rally tonight and want to get in first.
Im just ignoring all the manic movements and buying quality for the long term

[soulman]

At 1pm NZ time the All Ords was 3% down. I checked in again at 4pm it was moving into positive territory. For some strange reason at about 2pm Aus. time the Aussie banks (which where all negative) bounced back.

Any idea why?

Maybe as simple reason as they have been oversold. Dividend might be cut but their yield are nearly twice as much as the deposit rate.

[underDOG]

At 1pm NZ time the All Ords was 3% down. I checked in again at 4pm it was moving into positive territory. For some strange reason at about 2pm Aus. time the Aussie banks (which where all negative) bounced back.

Any idea why?


no agree

something spurred the market

I thought it was a surprise rate cut looking at the daily chart and comeback...as was away all day working



any news that may have triggered the afternoon rally - esp after DOW lows again.

PS and Friday has been crap lately with many bailing for the weekend.

[dragonz]

They expecing a dow rally tonight and want to get in first.
Im just ignoring all the manic movements and buying quality for the long term


You where right about the DOW rally. It rose 6.5% in the last hour of trading.

Whats the bet there will be a few profit taking trades lining up on Monday morning.

Doesn’t help with the volatility.