sharemarket discussion thread (1 Viewer)

[Rafy]

8,334.99 -244.20 (-2.85%)

Was down 7% (7,882.51) a few minutes after open

 

[stazi]

8% in 8 minutes, i believe. was really frightening - 1% loss every minute

 

[Rafy]

wow, and and now its up!

8,654.61 +75.42 (0.88%)

 

[morganforrest]

The drop must have been from all the sell orders that had lined up....once those were filed the buys started coming through the systems and trading began to normalise

Would be my guess for the bounce

 

[stazi]

i think it was more a mass panic, and then a realisation about how many bargains there were

 

[stazi]

seriously monitoring the index today is pointless. so up and down. we're seeing 1% swings in less than a minute each way

 

[morganforrest]

I want webcams of the traders panic at the opening bell....I like the Australians gallery of people looking distraught

http://media.theaustralian.com.au/multimedia/2008/10/10-market/index.html

 

[morganforrest]

Apple is doing well....

 

[stazi]

that's because apple may launch a new laptop: http://www.upi.com/Business_News/2008/10/10/Apple_may_launch_new_laptop/UPI-38841223644587/

 

[Graney]

General Motors is fucked, seriously.

RIP Australian manufactured Holdens 1856-2010.

 

[stazi]

im just scared shitless that P&G is falling, when it usually doesnt regardless of economic conditions. hopefully they wont cut back on any grad jobs

 

[hiphophooray123]

today's change:

-$3,635.20


total portfolio at 34k

*sits here with mouth wide open and tears in eyes*

 

[Animals]

today's change:

-$3,635.20


total portfolio at 34k

*sits here with mouth wide open and tears in eyes*

Seriously though, does this sort of thing make a man physically cry? I'm not being a dickhead, honest, I just want to understand the situation.

Also Chris, how much did you start off with?

 

[stazi]

he started off with 100k, i think.

and considering some people are driven to suicide by this, it wouldnt surprise me that itd make a man cry. although by the type of man who would cry, i mean someone who makes most of his income through the stock market, and doesn't have enough money to feed his family.

 

[morganforrest]

@ Chris: where did you get it all to begin with? And where do you have it invested atm?

Not that it matters - virtually everything is getting anally raped currently

 

[blue_chameleon]

he started off with 100k, i think.

and considering some people are driven to suicide by this, it wouldnt surprise me that itd make a man cry. although by the type of man who would cry, i mean someone who makes most of his income through the stock market, and doesn't have enough money to feed his family.

Anyone that is trading right now to for income through speculating on price rises, is absolutely nuts.

At least in managed funds, you can still keep direct shares within the fund, and diversify into cash some more until the panic passes.

:/

 

[Animals]

he started off with 100k, i think.

and considering some people are driven to suicide by this, it wouldnt surprise me that itd make a man cry. although by the type of man who would cry, i mean someone who makes most of his income through the stock market, and doesn't have enough money to feed his family.

Yeah, I'm not at all taking at jab at him. Heck, I'd feel like absolute shit and I'd most probably bawl my eyes out if I lost 60-odd thousand.

This crisis is starting to hit real hard.

 

[hopethisworks]

today's change:

-$3,635.20


total portfolio at 34k

*sits here with mouth wide open and tears in eyes*

. how did you get 100k to start with?
(/assuming post above is correct)

and furthermore. dont you dislike your financial losses being discussed by strangers?

 

[hiphophooray123]

i dont care. but it's personal where i got it all to begin with.

yes, i started off with 100k invested in the sharemarket. Gave it to a stockbroker at DFS equities who my uncle recommended, my uncle neglected to tell me that my uncle pulled my money out of the whole thing before i went into it because he could see that the stockbroker was making shit decisions.

i currently have 1000 shares in QBE insurance
and 490 shares in WOR worley parsons energy

The biggest loss of my money was because my stockbroker made the fucking idiotic shit mistake of purchasing heaps of shares in AED oil, who are fucking shit, and tried to find oil in some obscure puffin field bullshit crap, then he sold them off because they were a sinking ship.

WOR started off being a good choice but it's tanked badly recently (cost basis: 35.900...current price: 21.520)


my friend tells me that i can write off my losses through tax, so that i don't have to pay 100,000 dollars worth of tax....is that true???? can anyone confirm this?

 

[hopethisworks]

wait,
you pay more than 100k in tax?