Carnage again THIS WEEK?

E

errol43

New Member
Silver Stacker
Will the all ords cop another hammering this week...Some are predicting a 1.8% drop at the opening bell.

What do you think. ?

Regards Errol 43
 
Meanwhile, on the front page of the AFR today:

Brokers say shares will come back

Most stock broking strategists believe the Australian share market will have a healthy year...

blah blah blah
Click to expand...
 
ASX Futures are down 3.59% prior to opening on Monday morning.

I'm thinking a tough morning, China to sell off hard again this afternoon in response to Fridays Dow. But all it will take is some Chinese intervention or some dove-ish comments from the Fed and we'll be bouncing.

I am seriously considering liquidating my short position today because the COT report has me a bit spooked. The story of this week could be a PM smackdown instead of market carnage.
 
Don't forget the US market is closed Monday this week. That might mean we don't see a US Dow initiated bounce until Tuesday night.
 
LovingtheSilver said:
Good time to buy, I'm adding to my current stocks. More upside than downside.
Click to expand...

I've heard that line more than once. Hope it works out for you.
 
I've liquidated my short. Gut tells me that an intervention / rally is due and my head tells me that absolutely anything could happen - only the insiders could know. Better to play safe until I can identify another strong signal.

Good luck to those with open positions still.
 
Decent rally in China today and Europe tonite. Big nite for the Dow. Could be a green week.....

.....question is, will we see a PM smackdown or not??
 
BuggedOut said:
Decent rally in China today and Europe tonite. Big nite for the Dow. Could be a green week.....

.....question is, will we see a PM smackdown or not??
Click to expand...
One bank was advisimg to sell into the rallies. The last of the smart money may be using this to dump their positions onto the market. Its getting to be like a game of hot potato. Who will be left holding the potato?
 
SilverPete said:
BuggedOut said:
Decent rally in China today and Europe tonite. Big nite for the Dow. Could be a green week.....

.....question is, will we see a PM smackdown or not??
Click to expand...
One bank was advisimg to sell into the rallies. The last of the smart money may be using this to dump their positions onto the market. Its getting to be like a game of hot potato. Who will be left holding the potato?
Click to expand...

The smart money is telling people to sell so they can buy back in at a lower price. At least some of the blue chip stocks.
 
Caput Lupinum said:
SilverPete said:
BuggedOut said:
Decent rally in China today and Europe tonite. Big nite for the Dow. Could be a green week.....

.....question is, will we see a PM smackdown or not??
Click to expand...
One bank was advisimg to sell into the rallies. The last of the smart money may be using this to dump their positions onto the market. Its getting to be like a game of hot potato. Who will be left holding the potato?
Click to expand...

The smart money is telling people to sell so they can buy back in at a lower price. At least some of the blue chip stocks.
Click to expand...
They can dump their crap stocks into the rallies and buy blue chips in the dips.
 
Dow was unconvincing last night and PMs have been holding their ground so it's still GAME ON here at the moment.

The vibe I'm getting from MSM is that they are still largely in denial about the sell off, which suggests to me there is still more downside in the longer term. There are a few reports surfacing that are more bearish but there is no real acknowledgement of crash risk or the fact we might be in a bear market, headed for recession. MSM are predominantly clinging to the old "fundamentals are good" chestnut.

So for me, I'm going with a "sell the rally" strategy.....now where is that damned rally? :p
 
Dow jones falling fast....Plunge protection team will be on the job soon? :)

Free markets?

Regards Errol 43

Dow Jones down 547 points......Tomorrow ASX down 2%?
 
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