AFF Member Stock Discussion

[wannabeinvestmentbanker]

I can't comprehend how a market could be shut down. Do you shut down the credit, fx, commodity, derivative markets as well? How will everything be priced, how will people exit their positions e.g. those in retirement phase. Its a natural part of free markets that strong companies survive. Cessation of trading in deeply liquid developed markets I don't foresee to ever occur.

 

[tgh]

Not sure where.. but there is a tipping point into some unknown and unknowable outcome
I have bought a few wbc shares because the price was compelling… but…….

 

[Long_20]

With Europe a disaster zone tonight is it time for the G7 to shut down the share market for a few weeks or months? A correction was overdue but the senseless shedding of money isn't going to help a recovery.

It's part of the inherent risk of investing in the markets. Otherwise it would be risk free money...

This is not the first virus or first pandemic to hit the world. There are historical precedents for how pandemics develop. Even China and Korea provide case studies for how the situation may play out over the next few months.

 

[moa999]

If you shut the market for a couple of days.. its likely just even worse when it reopens.

 

[pauly7]

How’s the market futures for the ASX look today?

 

[amaroo]

We’ve got a big chunk of super cash sitting on the reserve bench just waiting, waiting.....

 

[pauly7]

People are just hysterical, at the end of the day this is just a ‘new’ flu we don’t know how to fight ‘yet’. Theres already very positive news on a few drugs that have ethics approval for fast tracked trials.
Yes there will be some pain I get that completely but wow this is a big correction.
Speaking to friends in China they think the world has gone bonkers.

 

[earlyriser]

People are just hysterical, at the end of the day this is just a ‘new’ flu we don’t know how to fight ‘yet’. Theres already very positive news on a few drugs that have ethics approval for fast tracked trials.
Yes there will be some pain I get that completely but wow this is a big correction.
Speaking to friends in China they think the world has gone bonkers.

While I agree, and I have also been following every report about the drug trials, I think the US and some of Europe haven't handled this well and Australia may follow. Trump was also Trump for too long and is only reacting recently. Hence, the loss of confidence. Also, the markets were unsustainable when this all started.

 

[pauly7]

While I agree, and I have also been following every report about the drug trials, I think the US and some of Europe haven't handled this well and Australia may follow. Trump was also Trump for too long and is only reacting recently. Hence, the loss of confidence. Also, the markets were unsustainable when this all started.

Totally agree but I feel sorry for people who are panicking because of the miscommunication and handling, selling and in two years maybe less will regret their actions

 

[moa999]

think the US and some of Europe haven't handled this well and Australia may follow.

I think Australia started well with the China ban but decisions after that have been slow.
Should have been stockpiling equipment and test kits.
The quarantine and F1 cancellation was a week too late and probably let in 100s of infected people (that we will only test this week as they fall ill).

But the past is the past.
Think we need to close schools, non essential shops etc this week

The market today will undoubtedly be a sea of red. Mondays close was based on US futures of about 5% down. It endedbdown 12%

 

[wannabeinvestmentbanker]

How’s the market futures for the ASX look today?

Futures set to open at 4900 levels

 

[Long_20]

Not looking too bad at open right now. I'm in the green

Was ready to buy if it went down further but holding fire and seeing how the day develops

 

[VPS]

I put the proceeds of my house sale into super and looking for a new house and hoping to retire at the end of this year so sadly that won't be happening. I think this is going to fine for people who have a few more years in the work force

 

[wannabeinvestmentbanker]

Anyone else getting stage fright when going to put the orders on? I just can't bring myself to do it currently but getting a massive FOMO if the rebound was to kick off. I just cant foresee a major rebound imminently.

 

[Long_20]

Anyone else getting stage fright when going to put the orders on? I just can't bring myself to do it currently but getting a massive FOMO if the rebound was to kick off. I just cant foresee a major rebound imminently.

I've purchased bits all the way down. If your time frame is more than 12-24 months, you can't really go wrong buying at these levels.

 

[Dr Ralph]

I bought CBA at $58 today. Not long before close it was $66. I'm no day trader, but I decided to dump what I had bought today. Unprecedented stuff for CBA!

I also picked up some CSL for $260. Sold for $310. Again, I wouldn't normally be even remotely interested in doing this, but extremely happy to turn this over in under 4 hours. When you can make this much profit in such a short period of time it has to be taken.

You don't get opportunities like this every day.

Let the roller coaster continue!

I need to revise this post.

I may well have accidentally become a day trader!

On and off CBA again today. Bought at $60. Sold at $65.

At all times I would have been happy to hold CBA at $60 for 3 to 5 years. But when it's rising that much in a few hours I have to lock in my profits now.

"You can't make a loss taking a profit."

 

[moa999]

I just cant foresee a major rebound imminently.

Tend to agree. The latest set of cases from people who have flown into Australia over the last week scares me.
And I think the US in particular is going to get a lot more cases in the next few days, and the Fed is basically out of gunpowder.

I sold out of a few things I'd purchased on Thu and Mon (GEAR and SYD) for a decent profit, albeit had I waited 10min would have been a bit more given the late rally.

 

[wannabeinvestmentbanker]

SYD has really been hit hard - I was tempted to do more research into it to see if below fair value. Looks like fees may be in jeopardy and less passing traffic.

Property trusts were the biggest loser today. URW is kind of tempting but lease forgiveness and general decline of bricks and mortar are against it.

I mostly buy ETFs and with the Philippine market closing I feel passive instruments may trade below NAV so halting ETF purchases for now.

 

[moa999]

Positive night in the US.
I think when we closed futures were up about 3%.

Market only opened up 0.5% but quickly rallied and trended up to end at 6% up.

So I'd think a slight positive on open for our market, subject to what ScoMo says momentarily

 

[moa999]

Well that was a wonky crystal ball.
ASX opened down and has kept on going.

Qantas getting smashed. Down to low $2 range