Black Monday

[Cricketfan]

Panic over ...was there any need to panic in first place?

At least it gave the media something to get excited about when not much else seemed to be going on....and boy did they make the most of it. They just love sensational market collapses, property market collapses and can even turn a bit of rain in Auckland into to the biggest storm ever (must fix Tamaki Drive though)

Suppose what we have seen is just normal behaviour we have to expect when computers essentially run the market so expect more of this as the market relentlessly climbs higher.

This sort of thing has happened a few times in the last year or two (Brexit, Trump etc). I've only been investing for about 4 years and already I feel jaded from these reports. One day there will be actual reason to panic but I feel like it'll be like The Boy Who Cried Wolf. In the meantime I'll continue with my strategy of doing nothing, which has worked so far.

[suse]

My biggest holding is in HBL. I cashed up half my shares late last year and popped into a HBL bank account. I cashed up a small holding in CBL last year before they nosedived to buy into ATM and PPH, and 2 weeks ago I cashed out half of those at good prices. So all in all, good timing.

I'm not panicking about this current correction but I am wondering if I should ditch some more shares as I will need the money in about 6 months for my new house, (although the bank is pretty happy to lend as much as we need and more, I'd like to keep the mortgage a manageable size). My problem is I DO have a high risk appetite so I'm inclined to leave my money where it is and wait for the full year results and dividend from HBL... Maybe I should lose ATM and PPH entirely and take the profit but they do make my life more interesting and make me feel better about the red arrows for my dogs, BLT and NTL. So I'm interested to hear what others think - how long does a correction normally run for. (how long is a piece of string??)

[blackcap]

I'm not panicking about this current correction but I am wondering if I should ditch some more shares as I will need the money in about 6 months for my new house, ( - how long does a correction normally run for. (how long is a piece of string??)

Firstly, wow that is just mental.. (predicated on your word need, using classic definition of need, not necessarily the modern version of need) need money for house and have it in sharemarket.
Secondly, correct, how long is a piece of string no one really knows. A bear market if it gets to one of those can last longer than 10 years.

[couta1]

Dash, thanks to Waitangi day looks like I've missed out on my A2 top up, what were we celebrating yesterday anyway, oh I remember now, the gravy train continuing for another 170 odd years.

[blackcap]

Dash, thanks to Waitangi day looks like I've missed out on my A2 top up, what were we celebrating yesterday anyway, oh I remember now, the gravy train continuing for another 170 odd years.

Hey Couta, you could have topped up on the ASX.....

[hardt]

SP500 closed up nicely today, my US portfolio had a rocky week... good thing the stellar year of growth all around the market is set to continue.
AMZN seemed to weather the sell off well enough.
I am mostly interested in BioPharma over there so I am piling money into Alexion.

Big tax cuts coming into play for next reporting season will be worth the wait.

Among other things, the main premise of a bear market would be depressed growth...

Fundamentals of the bull market remain in tact, growth remains at the forefront of everything...

[Joshuatree]

DOW up 600 points atm

[couta1]

Hey Couta, you could have topped up on the ASX.....

I have never done that before and with ANZ Securities closed, how would that work?

[blackcap]

I have never done that before and with ANZ Securities closed, how would that work?

ANZ securities would have been open yesterday to buy and sell on the ASX. You just put an order in to buy on the ASX and you can even settle in NZD....
When you click on "buy" it gives you an option of NZ or AU with the down arrow thingee.... from there the world is your oyster.

Do you trade online or do you phone through orders? Online its as easy as buying a NZ stock.

[Joshuatree]

What an UP combo. the USA mkts; and Spacex has just done a successful launch of the most powerful rocket ever with the booster rockets doing a successful synchronised landing back on earth. Amongst its payload is a Tesla roadster complete with dummy to float around in space with all the other junk. Impressive duo to watch.