yea was amazing , i was locked out from trading when it was melting 1000 pts in 5mins , was very irate lol obviously market was moving to fast for market makers
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good way to spend Waitangi day - watching the closing bell on channel 91. Going to be a rough day on Asian Markets. Maybe lucky we are close today to see what happens in the next 24hrs although futures look negative again. I'm guessing a 10% correction on the Dow from its high last week.
be panic in nz for sure have a read of this
https://www.nzx.com/files/static/cms...nce%20Note.pdf
orderly markets conduct rules for brokers ...... the silliest rule on orderly markets ever written ......... public will be front rrun by everyone following this rule
From my experiences the best part of market corrections / collapses is when one realises jeez the markets down 50% from it highs and you congratulate yourself on essentially being out of the market before the peak
Some on here been through several big corrections / collapses but I have a feeling this could be new territory for many on Sharetrader
But then again we could be back at new highs in March
Today you have experienced history being made - biggest one day fall of DOW ever
I thought Sep 18 2001 post 911 was bad but that was only 685 down — far greater percentage wise though
Kind of glad the stock market is closed today. There's going to be blood on Wednesday.
Let's hope HLG releases some amazing results to give me at least one green on the day!!
Unrelated for sure but you have to admit it was funny on CBSN to watch him talking up the economy for '18 whilst in the bottom right hand corner the DJ was plummeting
Not a bad summary of today's fall on Bloomberg
https://www.bloomberg.com/news/artic...ion-stock-rout
I expect there will be a reasonable correction on the NZX tomorrow with foreign investors pulling out until the markets settle. ETF's will play a fairly significant role too I expect and no doubt some Kiwisavers moving to more conservative funds will exacerbate things a bit. I've only ever lost money selling and so I think I'll ride this out. The companies I'm invested in will wake up tomorrow and continue to go about their daily business irrespective of what Mr Market does.....
Good luck all :)
I've actually looked at all my stocks and apart from Atm and Pushlay none have had substantial rises over the past few years (as most have been rises in line with earnings). That makes me feel better because I feel they all are still decent value. Plus I have a few stocks that have already been punished that are at very low PEs.
I'm worried most about pushpay so I may consider selling that one down.
Thanks for the link
Just because Bloomberg says traders arent panicking doesnt mean they wont panic tomorrow in NZ.
Hope they will but I doubt if the drop will be as much in NZ .
Reserve Bank statement on Thursday-consensus is that interest rates will be on hold until next year.
Most nz companies will be posting good 6 month reports soon
1000 point ups and downs in minutes on USA mkts is unprecedented and sounds just a LITTLE panicky to me and with re 50% of the NZX owned overseas we will have to wait and see . Asian mkts in for an 8% drop today!?