Check it out !! Down 5.6% to 5889 !

https://www.asx.com.au/

Its' worse than the 2008 crash.

ASX crashes below 6,000 in worst opening since global financial crisis.


https://pbs.twimg.com/profile_images/1209792168434421767/GdyuIc94_400x400.jpg
https://cdn.searchenginejournal.com/wp-content/uploads/2012/06/shutterstock_15719431-500x400.jpg

BHP down 10.3%

Bobby. wrote on Mar 9^th, 2020 at 10:45am:

BHP down 10.3%

https://pbs.twimg.com/profile_images/1209792168434421767/GdyuIc94_400x400.jpg
https://cdn.searchenginejournal.com/wp-content/uploads/2012/06/shutterstock_15719431-500x400.jpg

Forget the surplus.


https://www.skynews.com.au/details/_6139505165001


PM to unveil $10bn stimulus package
09/03/2020|1min

Prime Minister Scott Morrison is expected to unveil a stimulus package worth at least $10 billion this week in a bid to stave off a recession.

The government's 'razor gang' will present a proposal to Cabinet on Tuesday, but won't be finalised until at least Wednesday.

The treasurer is canvassing a range of options to boost household spending, but the cash injection will be business and jobs focused.

Josh Frydenberg has jettisoned the forecast $5 billion suprlus and is leaning on the states and territory governments to adopt their own plans.

Bobby. wrote on Mar 9^th, 2020 at 10:54am:

Forget the surplus. https://www.skynews.com.au/details/_6139505165001 PM to unveil $10bn stimulus package 09/03/2020|1min Prime Minister Scott Morrison is expected to unveil a stimulus package worth at least $10 billion this week in a bid to stave off a recession. The government's 'razor gang' will present a proposal to Cabinet on Tuesday, but won't be finalised until at least Wednesday. The treasurer is canvassing a range of options to boost household spending, but the cash injection will be business and jobs focused. Josh Frydenberg has jettisoned the forecast $5 billion suprlus and is leaning on the states and territory governments to adopt their own plans.

yes all will go to real estate agents and property developers so house prices don't crash :(

Sir lastnail wrote on Mar 9^th, 2020 at 10:57am:

yes all will go to real estate agents and property developers so house prices don't crash :(

Houses will go down too as people will be retrenched.

How will they pay their mortgages?

Bobby. wrote on Mar 9^th, 2020 at 11:04am:

Sir lastnail wrote on Mar 9th, 2020 at 10:57am: yes all will go to real estate agents and property developers so house prices don't crash :( Houses will go down too as people will be retrenched. How will they pay their mortgages?

scumo will give them a cheap loan but only to pay their mortgages and nothing else ;)

Bobby. wrote on Mar 9^th, 2020 at 11:04am:

Sir lastnail wrote on Mar 9th, 2020 at 10:57am: yes all will go to real estate agents and property developers so house prices don't crash :( Houses will go down too as people will be retrenched. How will they pay their mortgages?

Raise their hands and pray to God.


https://pbs.twimg.com/media/D3lZOlOUEAA6648.jpg

Bobby. wrote on Mar 9^th, 2020 at 10:45am:

BHP down 10.3%

I'm charting it to hit about $20

ASX down 6.1% !!

https://chloeturner.files.wordpress.com/2012/08/coles_down_down2_2-698x400_q85_crop_upscale.jpg

Sir lastnail wrote on Mar 9^th, 2020 at 11:34am:

ASX down 6.1% !!

A smart bloke like you would see this as a buying opportunity, right?

Gordon wrote on Mar 9^th, 2020 at 11:36am:

Sir lastnail wrote on Mar 9th, 2020 at 11:34am: ASX down 6.1% !! A smart bloke like you would see this as a buying opportunity, right?

Nah Nails doesn't have any money.

Smart is offloading 3000 Commonwealth Banks shares on Thursday afternoon at $77.50 then buying them back at $70.08 today for a tidy sum in a couple of days.

The Commonwealth bank isn't going to go broke the lefties continually whinge how banks are crooks..lol

It's just another symptom of people panicking.
Just like the toilet paper

Gordon wrote on Mar 9^th, 2020 at 11:36am:

Sir lastnail wrote on Mar 9th, 2020 at 11:34am: ASX down 6.1% !! A smart bloke like you would see this as a buying opportunity, right?

I heard the same advice the other day ! Free financial advice is worth what you pay for it ;)

The moral of the story is never try and catch a falling knife :(

ASX now down 6.5% !

Baronvonrort wrote on Mar 9^th, 2020 at 12:09pm:

Gordon wrote on Mar 9th, 2020 at 11:36am: Sir lastnail wrote on Mar 9th, 2020 at 11:34am: ASX down 6.1% !! A smart bloke like you would see this as a buying opportunity, right? Nah Nails doesn't have any money. Smart is offloading 3000 Commonwealth Banks shares on Thursday afternoon at $77.50 then buying them back at $70.08 today for a tidy sum in a couple of days. The Commonwealth bank isn't going to go broke the lefties continually whinge how banks are crooks..lol

You got a margin call did ya ;) LOL

and how much cash reserves does the bank have to cover it's bad loans ?? And how much of its loan book is in property ??

when scumo and co no longer have any more cans to kick down the road to keep their housing ponzi scam going what you going to do with your bank shares ?? Maybe use them as dunny roll :D LOL

The stock markets were due for a correction at some point. They have been overvalued for some time.

this is a happy day for sir rusty! dont spoil it for him'.

the last happy day he had was when the housing market crashed..

Bam wrote on Mar 9^th, 2020 at 2:32pm:

The stock markets were due for a correction at some point. They have been overvalued for some time.

Yup, everybody has been waiting for this for a chance to buy in.

The great depression was great for smarts. So was GFC. Trump's golf with big money will pay off great. Making Donald greater.

cods wrote on Mar 9^th, 2020 at 2:34pm:

this is a happy day for sir rusty! dont spoil it for him'. the last happy day he had was when the housing market crashed..

ASX XAO down 8% !! And I have done most of my shopping at Aldis just to make your day ;)

Gordon wrote on Mar 9^th, 2020 at 2:49pm:

Bam wrote on Mar 9th, 2020 at 2:32pm: The stock markets were due for a correction at some point. They have been overvalued for some time. Yup, everybody has been waiting for this for a chance to buy in.

They said this the other day, and the day before that, and the day before that... :D LOL

https://edition.cnn.com/2020/03/08/investing/stock-dow-futures-coronavirus/index.html


S&P 500 (SPX) futures plunged as much as 5% Sunday evening,

triggering a limit that prevents futures from trading below that mark. Dow (INDU) futures fell more than 1,200 points, or about 4.9%. Nasdaq Composite (COMP) futures were down 4.8%.

I wonder how gun sales are going....

Any panic buying there yet?

Downe at Ye Olde Walle Streete:-

"JESUS!  What was that noise?"

"The stock market collapsing..."

Frank wrote on Mar 9^th, 2020 at 5:06pm:

I wonder how gun sales are going.... Any panic buying there yet?

I didn't bother renewing my firearm license after Howard. I might have to stock up on hunting arrows. Yeehaw!

https://2.bp.blogspot.com/-HM-GExrAQZ8/VsfmBrQwbJI/AAAAAAAAB7M/po5oedghSq0/s1600/Deliverance5.jpg

People who KNOW wear full body plastic and Islamic head bags. No frilly little nose cone.  Santa Claus has a chance.

chimera wrote on Mar 9^th, 2020 at 5:32pm:

People who KNOW wear full body plastic and Islamic head bags. No frilly little nose cone.  Santa Claus has a chance.

Hasn't helped Iran.

Setanta wrote on Mar 9^th, 2020 at 5:26pm:

Frank wrote on Mar 9th, 2020 at 5:06pm: I wonder how gun sales are going.... Any panic buying there yet? I didn't bother renewing my firearm license after Howard. I might have to stock up on hunting arrows. Yeehaw! https://2.bp.blogspot.com/-HM-GExrAQZ8/VsfmBrQwbJI/AAAAAAAAB7M/po5oedghSq0/s1600/Deliverance5.jpg

Now that is the smart way. Stuff the guns.
Also learn to use a machete or some form of sword.


Guns are noisey....
Bullets will last for 5 minutes.
So many ingredients to have a accurate working firearm.....and a single shot bolt action. Good luck with them.


A bow is simple. Can be made from fishing line, pvc pipe and a trampoline spring.
Abo's invented the material for arrows.
They're quiet.
Most used weapon throughout history's wars.




As for the stock market.
This had to happen.
Wait till people are paying banks to keep their money in them because it is illegal to have more than 10k on your person.

Captain Caveman wrote on Mar 9^th, 2020 at 6:16pm:

Setanta wrote on Mar 9th, 2020 at 5:26pm: Frank wrote on Mar 9th, 2020 at 5:06pm: I wonder how gun sales are going.... Any panic buying there yet? I didn't bother renewing my firearm license after Howard. I might have to stock up on hunting arrows. Yeehaw! https://2.bp.blogspot.com/-HM-GExrAQZ8/VsfmBrQwbJI/AAAAAAAAB7M/po5oedghSq0/s1600/Deliverance5.jpg Now that is the smart way. Stuff the guns. Also learn to use a machete or some form of sword. Guns are noisey.... Bullets will last for 5 minutes. So many ingredients to have a accurate working firearm.....and a single shot bolt action. Good luck with them. A bow is simple. Can be made from fishing line, pvc pipe and a trampoline spring. Abo's invented the material for arrows. They're quiet. Most used weapon throughout history's wars. As for the stock market. This had to happen. Wait till people are paying banks to keep their money in them because it is illegal to have more than 10k on your person.

I do still have two bows, three swords, one machete and smaller sharp things. Lookout TP thieves! This TP is for my bunghole, not yours! ;D

Setanta wrote on Mar 9^th, 2020 at 5:34pm:

chimera wrote on Mar 9th, 2020 at 5:32pm: People who KNOW wear full body plastic and Islamic head bags. No frilly little nose cone.  Santa Claus has a chance. Hasn't helped Iran.

He would get executed or at least pelted with stones as Satan. It's the eye-slot that is the weak link for burqas , up market plastic and sun-shade is the trend. Women's usage needs Supreme Wisdom Bearded One to make a ruling.  If one of a married couple get corona , it's curtains.

chimera wrote on Mar 9^th, 2020 at 6:26pm:

Setanta wrote on Mar 9th, 2020 at 5:34pm: chimera wrote on Mar 9th, 2020 at 5:32pm: People who KNOW wear full body plastic and Islamic head bags. No frilly little nose cone.  Santa Claus has a chance. Hasn't helped Iran. He would get executed or at least pelted with stones as Satan. It's the eye-slot that is the weak link for burqas , up market plastic and sun-shade is the trend. Women's usage needs Supreme Wisdom Bearded One to make a ruling.  If one of a married couple get corona , it's curtains.

Curtains are the problem then? If Mohamed wants the meat curtains, the curtains must come down, or up as is the case? Ban curtains or it'll be curtains for Iran!

Setanta wrote on Mar 9^th, 2020 at 5:34pm:

chimera wrote on Mar 9th, 2020 at 5:32pm: People who KNOW wear full body plastic and Islamic head bags. No frilly little nose cone.  Santa Claus has a chance. Hasn't helped Iran.

Downe at Ye Olde Joke Central:-

How is Covid-19 transmitted in Iran?

Persian to Persian.

Setanta wrote on Mar 9^th, 2020 at 6:22pm:

Captain Caveman wrote on Mar 9th, 2020 at 6:16pm: Setanta wrote on Mar 9th, 2020 at 5:26pm: Frank wrote on Mar 9th, 2020 at 5:06pm: I wonder how gun sales are going.... Any panic buying there yet? I didn't bother renewing my firearm license after Howard. I might have to stock up on hunting arrows. Yeehaw! https://2.bp.blogspot.com/-HM-GExrAQZ8/VsfmBrQwbJI/AAAAAAAAB7M/po5oedghSq0/s1600/Deliverance5.jpg Now that is the smart way. Stuff the guns. Also learn to use a machete or some form of sword. Guns are noisey.... Bullets will last for 5 minutes. So many ingredients to have a accurate working firearm.....and a single shot bolt action. Good luck with them. A bow is simple. Can be made from fishing line, pvc pipe and a trampoline spring. Abo's invented the material for arrows. They're quiet. Most used weapon throughout history's wars. As for the stock market. This had to happen. Wait till people are paying banks to keep their money in them because it is illegal to have more than 10k on your person. I do still have two bows, three swords, one machete and smaller sharp things. Lookout TP thieves! This TP is for my bunghole, not yours! ;D

You've got the box and dice.
Maybe not the TP hoarders but some day those items may come in very handy.  ;)
Let's hope not....

Captain Caveman wrote on Mar 9^th, 2020 at 6:43pm:

Setanta wrote on Mar 9th, 2020 at 6:22pm: Captain Caveman wrote on Mar 9th, 2020 at 6:16pm: Setanta wrote on Mar 9th, 2020 at 5:26pm: Frank wrote on Mar 9th, 2020 at 5:06pm: I wonder how gun sales are going.... Any panic buying there yet? I didn't bother renewing my firearm license after Howard. I might have to stock up on hunting arrows. Yeehaw! https://2.bp.blogspot.com/-HM-GExrAQZ8/VsfmBrQwbJI/AAAAAAAAB7M/po5oedghSq0/s1600/Deliverance5.jpg Now that is the smart way. Stuff the guns. Also learn to use a machete or some form of sword. Guns are noisey.... Bullets will last for 5 minutes. So many ingredients to have a accurate working firearm.....and a single shot bolt action. Good luck with them. A bow is simple. Can be made from fishing line, pvc pipe and a trampoline spring. Abo's invented the material for arrows. They're quiet. Most used weapon throughout history's wars. As for the stock market. This had to happen. Wait till people are paying banks to keep their money in them because it is illegal to have more than 10k on your person. I do still have two bows, three swords, one machete and smaller sharp things. Lookout TP thieves! This TP is for my bunghole, not yours! ;D You've got the box and dice. Maybe not the TP hoarders but some day those items may come in very handy.  ;) Let's hope not....

Bring on the zombie apocalypse!  ;D

I'd rather just grow old gracefully at this stage though.

Everyone is affected that has superannuation....Self funded retires will be hardest hit!!!

:( :( :(

Setanta wrote on Mar 9^th, 2020 at 6:48pm:

I'd rather just grow old gracefully at this stage though.

Tips, please.

I am ready chuck it all in but it would be my first time so I am not sure what i'm in for.   As the guy said in Monty Python - 'what's it like?'

What's it like not working?

Captain Caveman wrote on Mar 9^th, 2020 at 6:43pm:

Setanta wrote on Mar 9th, 2020 at 6:22pm: Captain Caveman wrote on Mar 9th, 2020 at 6:16pm: Setanta wrote on Mar 9th, 2020 at 5:26pm: Frank wrote on Mar 9th, 2020 at 5:06pm: I wonder how gun sales are going.... Any panic buying there yet? I didn't bother renewing my firearm license after Howard. I might have to stock up on hunting arrows. Yeehaw! https://2.bp.blogspot.com/-HM-GExrAQZ8/VsfmBrQwbJI/AAAAAAAAB7M/po5oedghSq0/s1600/Deliverance5.jpg Now that is the smart way. Stuff the guns. Also learn to use a machete or some form of sword. Guns are noisey.... Bullets will last for 5 minutes. So many ingredients to have a accurate working firearm.....and a single shot bolt action. Good luck with them. A bow is simple. Can be made from fishing line, pvc pipe and a trampoline spring. Abo's invented the material for arrows. They're quiet. Most used weapon throughout history's wars. As for the stock market. This had to happen. Wait till people are paying banks to keep their money in them because it is illegal to have more than 10k on your person. I do still have two bows, three swords, one machete and smaller sharp things. Lookout TP thieves! This TP is for my bunghole, not yours! ;D You've got the box and dice. Maybe not the TP hoarders but some day those items may come in very handy.  ;) Let's hope not....

I have only my hands, but what I can't kill I don't eat....

Sir Grappler Truth Teller OAM wrote on Mar 9^th, 2020 at 7:13pm:

Captain Caveman wrote on Mar 9th, 2020 at 6:43pm: Setanta wrote on Mar 9th, 2020 at 6:22pm: Captain Caveman wrote on Mar 9th, 2020 at 6:16pm: Setanta wrote on Mar 9th, 2020 at 5:26pm: Frank wrote on Mar 9th, 2020 at 5:06pm: I wonder how gun sales are going.... Any panic buying there yet? I didn't bother renewing my firearm license after Howard. I might have to stock up on hunting arrows. Yeehaw! https://2.bp.blogspot.com/-HM-GExrAQZ8/VsfmBrQwbJI/AAAAAAAAB7M/po5oedghSq0/s1600/Deliverance5.jpg Now that is the smart way. Stuff the guns. Also learn to use a machete or some form of sword. Guns are noisey.... Bullets will last for 5 minutes. So many ingredients to have a accurate working firearm.....and a single shot bolt action. Good luck with them. A bow is simple. Can be made from fishing line, pvc pipe and a trampoline spring. Abo's invented the material for arrows. They're quiet. Most used weapon throughout history's wars. As for the stock market. This had to happen. Wait till people are paying banks to keep their money in them because it is illegal to have more than 10k on your person. I do still have two bows, three swords, one machete and smaller sharp things. Lookout TP thieves! This TP is for my bunghole, not yours! ;D You've got the box and dice. Maybe not the TP hoarders but some day those items may come in very handy.  ;) Let's hope not.... I have only my hands, but what I can't kill I don't eat....

Oh, damn! Just don't choke that chicken!

Frank wrote on Mar 9^th, 2020 at 7:13pm:

Setanta wrote on Mar 9th, 2020 at 6:48pm: I'd rather just grow old gracefully at this stage though. Tips, please. I am ready chuck it all in but it would be my first time so I am not sure what i'm in for.   As the guy said in Monty Python - 'what's it like?' What's it like not working?

You can still work, volunteer, do shyte, in fact I hope you do, it's just more at your pace rather than another's. Life goes on.

Frank wrote on Mar 9^th, 2020 at 7:13pm:

Setanta wrote on Mar 9th, 2020 at 6:48pm: I'd rather just grow old gracefully at this stage though. Tips, please. I am ready chuck it all in but it would be my first time so I am not sure what i'm in for.   As the guy said in Monty Python - 'what's it like?' What's it like not working?

A few years back I took 10 months off. I was lost.
Going from 65+ hour weeks to nothing was very unsettling to me.
I don't think I'll ever retire fully....semi retire for me I think. Still to young anyway.

Sir Grappler Truth Teller OAM wrote on Mar 9^th, 2020 at 7:13pm:

Captain Caveman wrote on Mar 9th, 2020 at 6:43pm: Setanta wrote on Mar 9th, 2020 at 6:22pm: Captain Caveman wrote on Mar 9th, 2020 at 6:16pm: Setanta wrote on Mar 9th, 2020 at 5:26pm: Frank wrote on Mar 9th, 2020 at 5:06pm: I wonder how gun sales are going.... Any panic buying there yet? I didn't bother renewing my firearm license after Howard. I might have to stock up on hunting arrows. Yeehaw! https://2.bp.blogspot.com/-HM-GExrAQZ8/VsfmBrQwbJI/AAAAAAAAB7M/po5oedghSq0/s1600/Deliverance5.jpg Now that is the smart way. Stuff the guns. Also learn to use a machete or some form of sword. Guns are noisey.... Bullets will last for 5 minutes. So many ingredients to have a accurate working firearm.....and a single shot bolt action. Good luck with them. A bow is simple. Can be made from fishing line, pvc pipe and a trampoline spring. Abo's invented the material for arrows. They're quiet. Most used weapon throughout history's wars. As for the stock market. This had to happen. Wait till people are paying banks to keep their money in them because it is illegal to have more than 10k on your person. I do still have two bows, three swords, one machete and smaller sharp things. Lookout TP thieves! This TP is for my bunghole, not yours! ;D You've got the box and dice. Maybe not the TP hoarders but some day those items may come in very handy.  ;) Let's hope not.... I have only my hands, but what I can't kill I don't eat....

;D

Hands are very powerful weapons grasshopper.

Captain Caveman wrote on Mar 9^th, 2020 at 7:22pm:

;D Hands are very powerful weapons grasshopper.

Yes - boxers wear gloves because a bare fist would splatter anyone's face.

Global oil price has dropped 30%.....

Bobby. wrote on Mar 9^th, 2020 at 7:35pm:

Captain Caveman wrote on Mar 9th, 2020 at 7:22pm: ;D Hands are very powerful weapons grasshopper. Yes - boxers wear gloves because a bare fist would splatter anyone's face.

Gloves actually allow people to hit harder as the hands are cushioned and not broken. Two way street.

Setanta wrote on Mar 9^th, 2020 at 7:41pm:

Bobby. wrote on Mar 9th, 2020 at 7:35pm: Captain Caveman wrote on Mar 9th, 2020 at 7:22pm: ;D Hands are very powerful weapons grasshopper. Yes - boxers wear gloves because a bare fist would splatter anyone's face. Gloves actually allow people to hit harder as the hands are cushioned and not broken. Two way street.

I've seen the result of someone getting just one bare fist
punch on their right eye and it was shocking.
I saw it live.
I couldn't believe that one punch could do that much damage
until I saw it for myself.

Captain Caveman wrote on Mar 9^th, 2020 at 7:20pm:

Frank wrote on Mar 9th, 2020 at 7:13pm: Setanta wrote on Mar 9th, 2020 at 6:48pm: I'd rather just grow old gracefully at this stage though. Tips, please. I am ready chuck it all in but it would be my first time so I am not sure what i'm in for.   As the guy said in Monty Python - 'what's it like?' What's it like not working? A few years back I took 10 months off. I was lost. Going from 65+ hour weeks to nothing was very unsettling to me. I don't think I'll ever retire fully....semi retire for me I think. Still to young anyway.

My work is all in the head. Law,  psychology, money. All make belief.

Setanta wrote on Mar 9^th, 2020 at 6:48pm:

Bring on the zombie apocalypse!  ;D I'd rather just grow old gracefully at this stage though.

With all the toilet paper disappearing, it's more like the mummy apocalypse.

DOW now -8.05%


https://edition.cnn.com/business/live-news/stock-market-news-today-030920/index.html


The S&P 500 plummeted 7% at the open, tripping circuit breakers that briefly halted trading at the New York Stock Exchange.

The Dow has fallen 8.1%, tumbling nearly 2,100 points. If it closes at that level, it would be the worst day for the Dow since October 26, 1987.

https://edition.cnn.com/business/live-news/stock-market-news-today-030920/index.html


Other economically-sensitive stocks also fell sharply Monday, including large American banks.

JPMorgan Chase tumbled 13%,

while Bank of America plunged 16%.

Putin is panic selling oil and defying Saudi and US outputs.  Toilet paper barter for oil is the way for Scomo , maybe fill an empty dam somewhere. Oil hydro power in the Snowy will promote carbon over renewable.

ASX opens 3.7% down.

It's  a blood bath.

stock market  pandemic..

its always the first to be hit BIG...always bobs..

money being our top priority...[after toilet paper]

it will recover..all in good time.

cods wrote on Mar 10^th, 2020 at 9:16am:

stock market  pandemic.. its always the first to be hit BIG...always bobs.. money being our top priority...[after toilet paper] it will recover..all in good time.

Dear Cods,
down 12% in only 2 days.

It's going up now

only down 0.65%.

Bobby. wrote on Mar 10^th, 2020 at 9:30am:

cods wrote on Mar 10th, 2020 at 9:16am: stock market  pandemic.. its always the first to be hit BIG...always bobs.. money being our top priority...[after toilet paper] it will recover..all in good time. Dear Cods, down 12% in only 2 days.

I know dear its all over the news.....I am trying to look on the bright side...its how I am! :) :)

Bobby. wrote on Mar 10^th, 2020 at 9:36am:

It's going up now only down 0.65%.

The RBA may have stepped in to prop up thye share market !!

cods wrote on Mar 10^th, 2020 at 10:05am:

Bobby. wrote on Mar 10th, 2020 at 9:30am: cods wrote on Mar 10th, 2020 at 9:16am: stock market  pandemic.. its always the first to be hit BIG...always bobs.. money being our top priority...[after toilet paper] it will recover..all in good time. Dear Cods, down 12% in only 2 days. I know dear its all over the news.....I am trying to look on the bright side...its how I am! :) :)

This is what happens in a free market. No government intervention like first home buyers grants and deposits to help stop house prices from crashing. There is nothing like this for the share market and you can see the results !!

Sir lastnail wrote on Mar 10^th, 2020 at 10:26am:

Bobby. wrote on Mar 10th, 2020 at 9:36am: It's going up now only down 0.65%. The RBA may have stepped in to prop up thye share market !!

No - the super funds are buying them.
They have billions of dollars to play with.

Bobby. wrote on Mar 10^th, 2020 at 11:22am:

Sir lastnail wrote on Mar 10th, 2020 at 10:26am: Bobby. wrote on Mar 10th, 2020 at 9:36am: It's going up now only down 0.65%. The RBA may have stepped in to prop up thye share market !! No - the super funds are buying them. They have billions of dollars to play with.

Or it's big traders and fund managers covering short positions ;)

Bobby. wrote on Mar 10^th, 2020 at 11:22am:

Sir lastnail wrote on Mar 10th, 2020 at 10:26am: Bobby. wrote on Mar 10th, 2020 at 9:36am: It's going up now only down 0.65%. The RBA may have stepped in to prop up thye share market !! No - the super funds are buying them. They have billions of dollars to play with.

While you're still playing chicken little, this time it's at least, sadly, we're looking at some hard times with how everyone is panicking but also the travel limitations putting on the hurt.

It will only be compounded with our current leadership here, unless they do the right thing and mirrors Labor's response to the GFC that they went apeshit over at the time and trashed Swan at every opportunity since.

Time to put up or, run the country into the ground :(

chimera wrote on Mar 10^th, 2020 at 6:00am:

Putin is panic selling oil and defying Saudi and US outputs.  Toilet paper barter for oil is the way for Scomo , maybe fill an empty dam somewhere. Oil hydro power in the Snowy will promote carbon over renewable.

Didn't understand one word of that.

Frank wrote on Mar 9^th, 2020 at 7:13pm:

Setanta wrote on Mar 9th, 2020 at 6:48pm: I'd rather just grow old gracefully at this stage though. Tips, please. I am ready chuck it all in but it would be my first time so I am not sure what i'm in for.   As the guy said in Monty Python - 'what's it like?' What's it like not working?

i would imagine you HAVE to have a goal.
you HAVE to bounce out of bed in the morning with something to do.
that sets up the dopamine and serotonin and keeps your emotions stable.

if you dont, you will enter an existential fog where you become increasingly confused as to "what it all means".
now you are just sitting around waiting to be "preyed upon" by a cancer or a corona or a coronary".
that leads to anxeity, tons of negative emotions, cortisol, adrenaline, poor sleep and ill health (physically and mentally).

i actually dont think people should ever quit.
the idea of the golden years and enjoying sitting on a beach or endless cruising is a mirage.

find something that interests you.
my uncle got interested in the american civil war.
every year, him and another 40 or so aussies go to the USA and do research and study and read old texts and archives.
it has kept him engaged into his 90's.

he would be dead if he just sat around, wallowing in self pity , posting on oz politics about how scomo needs to raise the pension by $20 a week  ::) ::)

Marla wrote on Mar 10^th, 2020 at 12:14pm:

chimera wrote on Mar 10th, 2020 at 6:00am: Putin is panic selling oil and defying Saudi and US outputs.  Toilet paper barter for oil is the way for Scomo , maybe fill an empty dam somewhere. Oil hydro power in the Snowy will promote carbon over renewable. Didn't understand one word of that.

Oil floats on water and after generating hydro power , the water flows on but the oil is separated and returned for pumped storage into the dam. This uses wind power in off peak. Then the oil is sold next year to China at enormous profit. Or kept as cheap reserve fuel.

Marla wrote on Mar 10^th, 2020 at 12:14pm:

chimera wrote on Mar 10th, 2020 at 6:00am: Putin is panic selling oil and defying Saudi and US outputs.  Toilet paper barter for oil is the way for Scomo , maybe fill an empty dam somewhere. Oil hydro power in the Snowy will promote carbon over renewable. Didn't understand one word of that.

The USA is the worlds largest producer of oil.

This oil price drop by the Saudis has nothing to do with the stockmarket.

The Saudis have competition with US shale oil one way to stop this is for the Saudis to drop the price of oil.


Quote:

The oil price war is a nightmare for US shale producers US shale oil firms have far higher production costs than Saudi Arabia, which unleashed a price war over the weekend. A perfect storm is forming over the United States shale oil patch. Following the collapse of the alliance between Saudi Arabia-led OPEC and its most important ally - Russia - on Friday, the kingdom threw down the gauntlet. The Saudis slashed the prices they charge for crude, and reportedly are preparing to open up the oil taps even more next month, saturating a market already reeling from waning demand in the face of coronavirus disruptions. At $2.8 per barrel, Saudi state oil giant Aramco has the lowest production costs in the world. US shale oil producers need crude to fetch a price that is more than 14 times higher to cover their costs. Now, the oil price war that has erupted has US shale oil companies rushing to cut spending and rein in their production. Global benchmark Brent crude fell 30 percent on Monday, the largest one-day slide since the 1991 Gulf War, before pairing some of those losses. US benchmark West Texas Intermediate crude tanked 24.59 percent to settle at $31.13 per barrel. For the last three years, OPEC and its allies, chiefly Russia, have cut supply to support prices, leaving the door open for US shale producers to boost production and capture market share. The US is now the largest oil producer in the world, pumping out nearly 13 million barrels per day (bpd), but the companies operating fields in Texas, New Mexico and other states have struggled to make enough money to satisfy investors. Shale companies need prices at least in the low $40s per barrel to cover direct costs, said Ian Nieboer, a managing director at consultant Enverus. If US prices remain at a low-$30-a-barrel range, "it starts to look more lethal," he said. https://www.aljazeera.com/ajimpact/oil-price-war-nightmare-shale-producers-200309173245129.html

Shale oil has resulted in the Saudis dropping the oil price, it shows what some competition can do for market prices.

https://youtu.be/1b_QS4e31c8

Sir lastnail wrote on Mar 9^th, 2020 at 12:24pm:

Baronvonrort wrote on Mar 9th, 2020 at 12:09pm: Gordon wrote on Mar 9th, 2020 at 11:36am: Sir lastnail wrote on Mar 9th, 2020 at 11:34am: ASX down 6.1% !! A smart bloke like you would see this as a buying opportunity, right? Nah Nails doesn't have any money. Smart is offloading 3000 Commonwealth Banks shares on Thursday afternoon at $77.50 then buying them back at $70.08 today for a tidy sum in a couple of days. The Commonwealth bank isn't going to go broke the lefties continually whinge how banks are crooks..lol You got a margin call did ya ;) LOL and how much cash reserves does the bank have to cover it's bad loans ?? And how much of its loan book is in property ?? when scumo and co no longer have any more cans to kick down the road to keep their housing ponzi scam going what you going to do with your bank shares ?? Maybe use them as dunny roll :D LOL

If I waited a bit longer I could have made far more, I didn't think it would go much below $70 before bouncing back.

The price dropped down to $65.80 this morning and has rebounded to $71.24.
https://www.google.com.au/search?source=hp&ei=rgRnXomvJ-yQ4-EPiY6ekAg&q=commonwealth+bank+share+price&oq=commonwealth+bank+share+price&gs_l=psy-ab.3..0i131i70i250j0i131j0j0i131j0l6.1047.11611..12390...1.0..1.687.5434.0j24j4j1j0j1......0....1..gws-wiz.......0i10.2NYLfZbRJpg&ved=0ahUKEwiJvsf59o7oAhVsyDgGHQmHB4IQ4dUDCAc&uact=5

The Banks aren't going to go broke people get paid with bank deposits instead of going to the pay office, the recent ban on cash transactions over $10K means they will be around for quite some time. We are moving towards a cashless society we can't do that without banks.  :)

My Westpac shares wouldn't have given as much in a return by selling them high then buying them back.

The hoarders stocking up on dunny paper, rice ,pasta etc means my Woolworths shares will continue to do well.

Might sell my Westfield shares in the future. Frank Lowy is no longer in control and the world is moving further towards online shopping. Not many vacant shops in any Westfields these shares have performed well over the last 30 years.

Marla wrote on Mar 10^th, 2020 at 1:09pm:

https://youtu.be/1b_QS4e31c8

It's so sad to see what was such a great country being ruined by that clown.

I hope someone, or some thing, can stop him before he completely destroys your nation.

Baronvonrort wrote on Mar 10^th, 2020 at 1:07pm:

Marla wrote on Mar 10th, 2020 at 12:14pm: chimera wrote on Mar 10th, 2020 at 6:00am: Putin is panic selling oil and defying Saudi and US outputs.  Toilet paper barter for oil is the way for Scomo , maybe fill an empty dam somewhere. Oil hydro power in the Snowy will promote carbon over renewable. Didn't understand one word of that. The USA is the worlds largest producer of oil. This oil price drop by the Saudis has nothing to do with the stockmarket. The Saudis have competition with US shale oil one way to stop this is for the Saudis to drop the price of oil. Quote: The oil price war is a nightmare for US shale producers US shale oil firms have far higher production costs than Saudi Arabia, which unleashed a price war over the weekend. A perfect storm is forming over the United States shale oil patch. Following the collapse of the alliance between Saudi Arabia-led OPEC and its most important ally - Russia - on Friday, the kingdom threw down the gauntlet. The Saudis slashed the prices they charge for crude, and reportedly are preparing to open up the oil taps even more next month, saturating a market already reeling from waning demand in the face of coronavirus disruptions. At $2.8 per barrel, Saudi state oil giant Aramco has the lowest production costs in the world. US shale oil producers need crude to fetch a price that is more than 14 times higher to cover their costs. Now, the oil price war that has erupted has US shale oil companies rushing to cut spending and rein in their production. Global benchmark Brent crude fell 30 percent on Monday, the largest one-day slide since the 1991 Gulf War, before pairing some of those losses. US benchmark West Texas Intermediate crude tanked 24.59 percent to settle at $31.13 per barrel. For the last three years, OPEC and its allies, chiefly Russia, have cut supply to support prices, leaving the door open for US shale producers to boost production and capture market share. The US is now the largest oil producer in the world, pumping out nearly 13 million barrels per day (bpd), but the companies operating fields in Texas, New Mexico and other states have struggled to make enough money to satisfy investors. Shale companies need prices at least in the low $40s per barrel to cover direct costs, said Ian Nieboer, a managing director at consultant Enverus. If US prices remain at a low-$30-a-barrel range, "it starts to look more lethal," he said. https://www.aljazeera.com/ajimpact/oil-price-war-nightmare-shale-producers-200309173245129.html Shale oil has resulted in the Saudis dropping the oil price, it shows what some competition can do for market prices.

Wait till electric cars become mainstream then the arabs will have to go back to the deserts and ride cammels :D LOL

Sir lastnail wrote on Mar 10^th, 2020 at 10:28am:

This is what happens in a free market. No government intervention like first home buyers grants and deposits to help stop house prices from crashing. There is nothing like this for the share market and you can see the results !!

There is, actually.


Bobby. wrote on Mar 10^th, 2020 at 4:20am:

The S&P 500 plummeted 7% at the open, tripping circuit breakers that briefly halted trading at the New York Stock Exchange.

If they lose too much, trading stops.

Trump says that movements on the Dow are a sign of America's  confidence in his Administration.

What does this say then?

"The largest Dow Jones point drop in history occurred on March 9, 2020."

https://thedailybanter.com/.image/t_share/MTQ0NDM3MDQxMzgyMzAzNjQz/trump-donald-worriedjpg.jpg

I'm curious.

greggerypeccary wrote on Mar 10^th, 2020 at 3:59pm:

Trump says that movements on the Dow are a sign of America's  confidence in his Administration. What does this say then? "The largest Dow Jones point drop in history occurred on March 9, 2020." https://thedailybanter.com/.image/t_share/MTQ0NDM3MDQxMzgyMzAzNjQz/trump-donald-worriedjpg.jpg I'm curious.

So you believe it dropped because of trump?
Hmmmm.... :D

Captain Caveman wrote on Mar 10^th, 2020 at 4:01pm:

greggerypeccary wrote on Mar 10th, 2020 at 3:59pm: Trump says that movements on the Dow are a sign of America's  confidence in his Administration. What does this say then? "The largest Dow Jones point drop in history occurred on March 9, 2020." https://thedailybanter.com/.image/t_share/MTQ0NDM3MDQxMzgyMzAzNjQz/trump-donald-worriedjpg.jpg I'm curious. So you believe it dropped because of trump? Hmmmm.... :D

Trump himself says that movements on the stock exchange are a result of America's confidence in his Administration.

So, what does this say about America's confidence in his Administration?

"The largest Dow Jones point drop in history occurred on March 9, 2020."

Thoughts?

greggerypeccary wrote on Mar 10^th, 2020 at 4:03pm:

Captain Caveman wrote on Mar 10th, 2020 at 4:01pm: greggerypeccary wrote on Mar 10th, 2020 at 3:59pm: Trump says that movements on the Dow are a sign of America's  confidence in his Administration. What does this say then? "The largest Dow Jones point drop in history occurred on March 9, 2020." https://thedailybanter.com/.image/t_share/MTQ0NDM3MDQxMzgyMzAzNjQz/trump-donald-worriedjpg.jpg I'm curious. So you believe it dropped because of trump? Hmmmm.... :D Trump himself says that movements on the stock exchange are a result of America's confidence in his Administration. So, what does this say about America's confidence in his Administration? "The largest Dow Jones point drop in history occurred on March 9, 2020." Thoughts?

I think Trump is trying hard to keep everyone’s confidence afloat and trying to keep positive but unfortunately, the virus fear seems to be winning.

Now Italy is in lockdown of 16 million people.
I saw a suggestion by someone prominent (forgot who) saying that Sydney within an 8 km radius should lock down with more new cases of virus infection occurring. That means Sydney Harbour will be at a stand still?
No cruise ships to leave or enter?

Case
Case
Case
Cluster
Cluster
Boom!
(The only thing not ‘boom’ is the stock market)

greggerypeccary wrote on Mar 10^th, 2020 at 4:03pm:

Captain Caveman wrote on Mar 10th, 2020 at 4:01pm: greggerypeccary wrote on Mar 10th, 2020 at 3:59pm: Trump says that movements on the Dow are a sign of America's  confidence in his Administration. What does this say then? "The largest Dow Jones point drop in history occurred on March 9, 2020." https://thedailybanter.com/.image/t_share/MTQ0NDM3MDQxMzgyMzAzNjQz/trump-donald-worriedjpg.jpg I'm curious. So you believe it dropped because of trump? Hmmmm.... :D Trump himself says that movements on the stock exchange are a result of America's confidence in his Administration. So, what does this say about America's confidence in his Administration? "The largest Dow Jones point drop in history occurred on March 9, 2020." Thoughts?

In any normal event...he is right

However

I believe it is way above trump. He is a puppet put on the stage for the likes of you to shoot at. Whether you hit or miss makes no difference at all to what is actually happening.

Negativity and uncertainty about corona virus in the media has spooked investors. We knew this would happen. Media plays a big part in the markets performance.
China reports that of all the cases of the virus that only 30% are yet to recover.
This would normally give positive gains in trading...except the fact that investors don't trust China. No one does atm. Is this because cases are not being reported? Who knows.

Trump hasn't even seen the stimulus package being debated as we type. The package that is supposed to slow the economic downturn in the US. Wait and see.

The plummeting cost of oil is not helping.
We are expected to see fuel as low as $1 per litre by the end of the month....so expect the market to drop further.

It has nothing to do with trump. Sure, he's at the helm but his administration seems to think the US economy will weather the storm. Good luck to them imo. If it does then I guess your accusation is null and void. We just have to wait ad see.


My concern is not for the market but the Joe blows about to lose everything.
The banks are about to regain all the money they've lost....you and I will 've the ones footing the bill.
If this interest rate falls below zero...watch out.

Sophia wrote on Mar 10^th, 2020 at 4:31pm:

greggerypeccary wrote on Mar 10th, 2020 at 4:03pm: Captain Caveman wrote on Mar 10th, 2020 at 4:01pm: greggerypeccary wrote on Mar 10th, 2020 at 3:59pm: Trump says that movements on the Dow are a sign of America's  confidence in his Administration. What does this say then? "The largest Dow Jones point drop in history occurred on March 9, 2020." https://thedailybanter.com/.image/t_share/MTQ0NDM3MDQxMzgyMzAzNjQz/trump-donald-worriedjpg.jpg I'm curious. So you believe it dropped because of trump? Hmmmm.... :D Trump himself says that movements on the stock exchange are a result of America's confidence in his Administration. So, what does this say about America's confidence in his Administration? "The largest Dow Jones point drop in history occurred on March 9, 2020." Thoughts? I think Trump is trying hard to keep everyone’s confidence afloat and trying to keep positive but unfortunately, the virus fear seems to be winning. Now Italy is in lockdown of 16 million people. I saw a suggestion by someone prominent (forgot who) saying that Sydney within an 8 km radius should lock down with more new cases of virus infection occurring. That means Sydney Harbour will be at a stand still? No cruise ships to leave or enter? Case Case Case Cluster Cluster Boom! (The only thing not ‘boom’ is the stock market)

Australia has already reached the boom stage because scumo and frydenturd are too busy trying to fix the economy rather than address the health apsects ! Idiot aussies have no test facilities for this virus and idiot radio commentators such as Tom Elliot are dismissing it as trivial and comparing it to the flu !! What a f.cken idiot. Wait till someone in his families cops it.

---

Sir lastnail wrote on Mar 10^th, 2020 at 4:56pm:

Sophia wrote on Mar 10th, 2020 at 4:31pm: greggerypeccary wrote on Mar 10th, 2020 at 4:03pm: Captain Caveman wrote on Mar 10th, 2020 at 4:01pm: greggerypeccary wrote on Mar 10th, 2020 at 3:59pm: Trump says that movements on the Dow are a sign of America's  confidence in his Administration. What does this say then? "The largest Dow Jones point drop in history occurred on March 9, 2020." https://thedailybanter.com/.image/t_share/MTQ0NDM3MDQxMzgyMzAzNjQz/trump-donald-worriedjpg.jpg I'm curious. So you believe it dropped because of trump? Hmmmm.... :D Trump himself says that movements on the stock exchange are a result of America's confidence in his Administration. So, what does this say about America's confidence in his Administration? "The largest Dow Jones point drop in history occurred on March 9, 2020." Thoughts? I think Trump is trying hard to keep everyone’s confidence afloat and trying to keep positive but unfortunately, the virus fear seems to be winning. Now Italy is in lockdown of 16 million people. I saw a suggestion by someone prominent (forgot who) saying that Sydney within an 8 km radius should lock down with more new cases of virus infection occurring. That means Sydney Harbour will be at a stand still? No cruise ships to leave or enter? Case Case Case Cluster Cluster Boom! (The only thing not ‘boom’ is the stock market) Australia has already reached the boom stage because scumo and frydenturd are too busy trying to fix the economy rather than address the health apsects ! Idiot aussies have no test facilities for this virus and idiot radio commentators such as Tom Elliot are dismissing it as trivial and comparing it to the flu !! What a f.cken idiot. Wait till someone in his families cops it.

Guess what!

South Australia are the first to have drive through testing now!
One person every 20 minutes.

Who would have thought SA to be the first!
I’m duly impressed  :)

Okay the other states need to follow by example if they are serious to get on top of this virus!!
Just do it !

Cmon Aussie cmon

I'm just waiting for the "Oh but imagine how much worse the market would have dropped under Clinton" excuse.

SadKangaroo wrote on Mar 10^th, 2020 at 6:13pm:

I'm just waiting for the "Oh but imagine how much worse the market would have dropped under Clinton" excuse.

"It's Obama's fault".

;D

SadKangaroo wrote on Mar 10^th, 2020 at 6:13pm:

I'm just waiting for the "Oh but imagine how much worse the market would have dropped under Clinton" excuse.

So let's say it is all trumps fault. You win.
What now?

Captain Caveman wrote on Mar 10^th, 2020 at 6:58pm:

SadKangaroo wrote on Mar 10th, 2020 at 6:13pm: I'm just waiting for the "Oh but imagine how much worse the market would have dropped under Clinton" excuse. So let's say it is all trumps fault. You win. What now?

Remove him from office before he does irreparable damage.

greggerypeccary wrote on Mar 10^th, 2020 at 7:00pm:

Captain Caveman wrote on Mar 10th, 2020 at 6:58pm: SadKangaroo wrote on Mar 10th, 2020 at 6:13pm: I'm just waiting for the "Oh but imagine how much worse the market would have dropped under Clinton" excuse. So let's say it is all trumps fault. You win. What now? Remove him from office before he does irreparable damage.

Okay he's removed.
How you gonna fix this?

aquascoot wrote on Mar 10^th, 2020 at 12:38pm:

Frank wrote on Mar 9th, 2020 at 7:13pm: Setanta wrote on Mar 9th, 2020 at 6:48pm: I'd rather just grow old gracefully at this stage though. Tips, please. I am ready chuck it all in but it would be my first time so I am not sure what i'm in for.   As the guy said in Monty Python - 'what's it like?' What's it like not working? i would imagine you HAVE to have a goal. you HAVE to bounce out of bed in the morning with something to do. that sets up the dopamine and serotonin and keeps your emotions stable. if you dont, you will enter an existential fog where you become increasingly confused as to "what it all means". now you are just sitting around waiting to be "preyed upon" by a cancer or a corona or a coronary". that leads to anxeity, tons of negative emotions, cortisol, adrenaline, poor sleep and ill health (physically and mentally). i actually dont think people should ever quit. the idea of the golden years and enjoying sitting on a beach or endless cruising is a mirage. find something that interests you. my uncle got interested in the american civil war. every year, him and another 40 or so aussies go to the USA and do research and study and read old texts and archives. it has kept him engaged into his 90's. he would be dead if he just sat around, wallowing in self pity , posting on oz politics about how scomo needs to raise the pension by $20 a week  ::) ::)

Thanks, pal, your take is sensible as usual.
God knows i am trying to be a good houyhnhnm every day, I really am.

Captain Caveman wrote on Mar 10^th, 2020 at 7:04pm:

greggerypeccary wrote on Mar 10th, 2020 at 7:00pm: Captain Caveman wrote on Mar 10th, 2020 at 6:58pm: SadKangaroo wrote on Mar 10th, 2020 at 6:13pm: I'm just waiting for the "Oh but imagine how much worse the market would have dropped under Clinton" excuse. So let's say it is all trumps fault. You win. What now? Remove him from office before he does irreparable damage. Okay he's removed. How you gonna fix this?

No, don't remove him from office over this.

What needs to happen is the Democrats AND the Republicans need to hold him to account for lying about the circumstances of the virus, it's spread, and prepare and have ready measures to support the economy where ever possible during this crisis.

His, "everything is fine, the economy is doing great, it will all go away as the weather heats up" head in the sand approach because he can't stand the thought of not winning, or having to actually take some responsibility for the economy is only going to lead to ruin.

And lying about the virus is only going to literally cost lives and for what, his ego?

The true test of a leader is their response to a crisis.

So far, he's just lied and pretended there isn't a crisis, appointed incompetent people to vitally important roles, and pretended he knows more than the experts with his "hunches" and "I should have gone to medical school and not run for President they're telling me I know so much" bullshit.

He needs to, for once, do his damn job, even if the outcome is going to hurt him, it's not about him, it's about the country.

https://media.tenor.com/images/d80cd3da26981a10d95bffc8b9e54454/tenor.gif

We remove him from office due to the accumulated weight of disasters ......

High in the cool clear skies over Australia.... Stock Market Airlines Oz makes its leisurely way towards Capital city.. all on board have just been fed their huge meal and are looking forward to setting down at Luxury Airport..... all appears clear and calm.....

Without warning, a single tweet of an alarm is heard from the cockpit...... then nothing.... Market Traffic Controllers are mystified.... what has happened?

greggerypeccary wrote on Mar 10^th, 2020 at 3:59pm:

Trump says that movements on the Dow are a sign of America's  confidence in his Administration. What does this say then? "The largest Dow Jones point drop in history occurred on March 9, 2020."

It's largely meaningless because it's not comparing like with like due to the effects of exponential growth.

A more accurate comparison is measuring such changes to the stock market as a percentage of the total. A much larger percentage drop has occurred several times. The 1987 crash, the onset of the Great Depression - these were bigger crashes. The points value of the market back then was much smaller.

Captain Caveman wrote on Mar 10^th, 2020 at 4:42pm:

The plummeting cost of oil is not helping. We are expected to see fuel as low as $1 per liter by the end of the month....so expect the market to drop further.

What are you basing that upon? This whole downturn nonsense started by the economic impact of the coronavirus when Saudi Arabia suddenly decided to launch an oil price war out of their ass. What they did was boost production while offering discount prices after a breakdown of an agreement with Russia to limit supply and maintain prices.

Sort of a backstabbing move that sent oil prices in a free fall by estimates of 25-30% when markets opened on Monday. Even if the cornovirus continues I highly doubt something of this scale would happen again.

However...the collapse in oil prices did trigger the share sell-off which was the underlying cause lies in the complete divorce of share market valuations. This was also boosted by the continuing supply of cheap money from the US Federal Reserve and other central banks from the underlying real economy.

The Federal Reserve responded to the sharp fall in the markets by doing what it always does: announcing an emergency rate cut of 0.5 percent and indicating that this was just the beginning. And, as usual this insane move failed to give any boost to share prices. So what the wolrd saw on Monday was a inevitable collision between market euphoria by the belief that central banks could forever counter any significant downturn, and the underlying recessionary trends in the US and global economy which has only resulted in fear and panic.

It's a temporary vibe no matter what apocalyptic virus is out there.

Baronvonrort wrote on Mar 10^th, 2020 at 1:07pm:

The USA is the worlds largest producer of oil. This oil price drop by the Saudis has nothing to do with the stockmarket. The Saudis have competition with US shale oil one way to stop this is for the Saudis to drop the price of oil.

The uneasiness  shakiness of American-based gas and oil fracking operations, and the essential weakness of the massive "junk bond" level financial institutions - "Shadow Banks" are nothing more than a unstable house of cards that is the socioeconomic system of American capitalism and its fading status as global hegemony.

https://image.slidesharecdn.com/shadowbankinginindia-170426095941/95/shadow-banking-in-india-2-638.jpg

This price war between the Saudis and the Russians only served to mask the fact that the main target of Saudi oil price cutting is, in fact, the American fracking industry. Of the top three global oil producers on the planet today: the Saudis, the Russians, and the Americans; the Saudis know all too well that fracking on American soil is also the highest priced producer and therefore run the most vulnerable operations.

With massive debts, borrowed from all the junk debt - (those nasty shadow bank markets, that include everything from BBB-rated securities to the most disreputable loans imaginable), American fracking is also vulnerable to price cuts that the Russians can survive.

This is yet another iteration of financial swindles and massive debt shifts from a failing capitalist system. The well-connected insider private interests, to the public purse.

The F A T orange puke in his public pronouncements opines that cheaper oil is good for the American people, since it lowers gasoline prices and can be used an an election selling point, he will undoubtedly accede to the inevitable demands from the frackers to transfer their massive debts to the public purse by some sort of purchase of their bad paper by the Fed.

In addition if there is another banking collapse and chances are high there may be one. Only this time the banks will seize every account of depositors and issue them some sort of worthless "Bank Stock" or "Bank Bonds", in place of their money on deposit. This has all been fought out in the courts for years and is ready to go. Various governments of the world don't have the resources to save the banks this time. Of course, this would provoke an unpredictable response by American populace and other capitalist states.

The F A T orange puke also knows that various American military operations in the Middle East and North Africa (MENA), over the past 39 years since Bush the Elder's attack on Iraq, have left the American petroleum industry out in the cold as far as the MENA region is concerned. So alternatives such as fracking, deep water drilling, mountain top removal coal extraction, and other extreme fossil fuel mining and extraction operations, have been the America's industry's fall back position. This is why he is gutting regulations and allowing for some of the worst environmental disasters and irreversible damage to so many eco systems.  After spending some $8 Trillion or more on these wars, the U.S. has been forced back mostly into the Western Hemisphere, and largely onto its own territory, to run its mining operations...and Trump is devastating everything in his path.

ASX loses 3.6% today

Scotty's Swann Dive - Pensioners etc to receive a bonus payment to boost economy.

Piss, pokies, pussy, ponies, puppies... here we come!

Sir Grappler Truth Teller OAM wrote on Mar 11^th, 2020 at 6:32pm:

Scotty's Swann Dive - Pensioners etc to receive a bonus payment to boost economy. Piss, pokies, pussy, ponies, puppies... here we come!

But still the stock market goes down.


S&P/ASX 200

INDEXASX: XJO

5,725.90 −213.70 (3.60%)

Sir Grappler Truth Teller OAM wrote on Mar 11^th, 2020 at 6:32pm:

Scotty's Swann Dive - Pensioners etc to receive a bonus payment to boost economy. Piss, pokies, pussy, ponies, puppies... here we come!

You're right there.
Most pension money I've seen spent on is Entertainment Venues and little white Fluffy Dogs with expensive diets.

Sophia wrote on Mar 10^th, 2020 at 5:06pm:

Sir lastnail wrote on Mar 10th, 2020 at 4:56pm: Sophia wrote on Mar 10th, 2020 at 4:31pm: greggerypeccary wrote on Mar 10th, 2020 at 4:03pm: Captain Caveman wrote on Mar 10th, 2020 at 4:01pm: greggerypeccary wrote on Mar 10th, 2020 at 3:59pm: Trump says that movements on the Dow are a sign of America's  confidence in his Administration. What does this say then? "The largest Dow Jones point drop in history occurred on March 9, 2020." https://thedailybanter.com/.image/t_share/MTQ0NDM3MDQxMzgyMzAzNjQz/trump-donald-worriedjpg.jpg I'm curious. So you believe it dropped because of trump? Hmmmm.... :D Trump himself says that movements on the stock exchange are a result of America's confidence in his Administration. So, what does this say about America's confidence in his Administration? "The largest Dow Jones point drop in history occurred on March 9, 2020." Thoughts? I think Trump is trying hard to keep everyone’s confidence afloat and trying to keep positive but unfortunately, the virus fear seems to be winning. Now Italy is in lockdown of 16 million people. I saw a suggestion by someone prominent (forgot who) saying that Sydney within an 8 km radius should lock down with more new cases of virus infection occurring. That means Sydney Harbour will be at a stand still? No cruise ships to leave or enter? Case Case Case Cluster Cluster Boom! (The only thing not ‘boom’ is the stock market) Australia has already reached the boom stage because scumo and frydenturd are too busy trying to fix the economy rather than address the health apsects ! Idiot aussies have no test facilities for this virus and idiot radio commentators such as Tom Elliot are dismissing it as trivial and comparing it to the flu !! What a f.cken idiot. Wait till someone in his families cops it. Guess what! South Australia are the first to have drive through testing now! One person every 20 minutes. Who would have thought SA to be the first! I’m duly impressed  :) Okay the other states need to follow by example if they are serious to get on top of this virus!! Just do it ! Cmon Aussie cmon

They are one month too late. They have already gone way beyond the containment stage :(

Baronvonrort wrote on Mar 10^th, 2020 at 1:18pm:

Sir lastnail wrote on Mar 9th, 2020 at 12:24pm: Baronvonrort wrote on Mar 9th, 2020 at 12:09pm: Gordon wrote on Mar 9th, 2020 at 11:36am: Sir lastnail wrote on Mar 9th, 2020 at 11:34am: ASX down 6.1% !! A smart bloke like you would see this as a buying opportunity, right? Nah Nails doesn't have any money. Smart is offloading 3000 Commonwealth Banks shares on Thursday afternoon at $77.50 then buying them back at $70.08 today for a tidy sum in a couple of days. The Commonwealth bank isn't going to go broke the lefties continually whinge how banks are crooks..lol You got a margin call did ya ;) LOL and how much cash reserves does the bank have to cover it's bad loans ?? And how much of its loan book is in property ?? when scumo and co no longer have any more cans to kick down the road to keep their housing ponzi scam going what you going to do with your bank shares ?? Maybe use them as dunny roll :D LOL If I waited a bit longer I could have made far more, I didn't think it would go much below $70 before bouncing back. The price dropped down to $65.80 this morning and has rebounded to $71.24. https://www.google.com.au/search?source=hp&ei=rgRnXomvJ-yQ4-EPiY6ekAg&q=commonwealth+bank+share+price&oq=commonwealth+bank+share+price&gs_l=psy-ab.3..0i131i70i250j0i131j0j0i131j0l6.1047.11611..12390...1.0..1.687.5434.0j24j4j1j0j1......0....1..gws-wiz.......0i10.2NYLfZbRJpg&ved=0ahUKEwiJvsf59o7oAhVsyDgGHQmHB4IQ4dUDCAc&uact=5 The Banks aren't going to go broke people get paid with bank deposits instead of going to the pay office, the recent ban on cash transactions over $10K means they will be around for quite some time. We are moving towards a cashless society we can't do that without banks.  :) My Westpac shares wouldn't have given as much in a return by selling them high then buying them back. The hoarders stocking up on dunny paper, rice ,pasta etc means my Woolworths shares will continue to do well. Might sell my Westfield shares in the future. Frank Lowy is no longer in control and the world is moving further towards online shopping. Not many vacant shops in any Westfields these shares have performed well over the last 30 years.

You should have waited a few more days. It was only a dead cat bounce ;)

ASX down 7.7% !!!

The problem is ... you can't say when the bottom has been reached until after it comes up again without being a "dead cat bounce" ... some time to go yet probably before we find out where the bottom of the market was.

Of course, by then we will have missed the absolute bargain prices, but still will be buying shares at a massive discount to where they were a couple of months back.

It ain't all bad. Shares are a long term investment.

Sir lastnail wrote on Mar 12^th, 2020 at 12:12pm:

ASX down 7.7% !!!

DOW is down to - 8.5%  right now.

Bitcoin the emergency safe haven is dumping. Sell . Buy paper rolls of tissue paper.

Bobby. wrote on Mar 13^th, 2020 at 5:10am:

Sir lastnail wrote on Mar 12th, 2020 at 12:12pm: ASX down 7.7% !!! DOW is down to - 8.5%  right now.

DOW down  10%         wow

Bobby. wrote on Mar 13^th, 2020 at 6:31am:

Bobby. wrote on Mar 13th, 2020 at 5:10am: Sir lastnail wrote on Mar 12th, 2020 at 12:12pm: ASX down 7.7% !!! DOW is down to - 8.5%  right now. DOW down  10%         wow

Biggest drop since 1987.

ALL thanks to this guy:

https://i.dailymail.co.uk/i/pix/2015/12/16/12/2F6915C100000578-0-image-m-15_1450269705441.jpg

greggerypeccary wrote on Mar 13^th, 2020 at 6:39am:

Bobby. wrote on Mar 13th, 2020 at 6:31am: Bobby. wrote on Mar 13th, 2020 at 5:10am: Sir lastnail wrote on Mar 12th, 2020 at 12:12pm: ASX down 7.7% !!! DOW is down to - 8.5%  right now. DOW down  10%         wow Biggest drop since 1987. ALL thanks to this guy: https://i.dailymail.co.uk/i/pix/2015/12/16/12/2F6915C100000578-0-image-m-15_1450269705441.jpg

Trump is not responsible for the Coronavirus  -
  it escaped from a Chinese bio weapons lab in Wuhan.

See my thread in Fringe.

Bobby. wrote on Mar 13^th, 2020 at 7:03am:

greggerypeccary wrote on Mar 13th, 2020 at 6:39am: Bobby. wrote on Mar 13th, 2020 at 6:31am: Bobby. wrote on Mar 13th, 2020 at 5:10am: Sir lastnail wrote on Mar 12th, 2020 at 12:12pm: ASX down 7.7% !!! DOW is down to - 8.5%  right now. DOW down  10%         wow Biggest drop since 1987. ALL thanks to this guy: https://i.dailymail.co.uk/i/pix/2015/12/16/12/2F6915C100000578-0-image-m-15_1450269705441.jpg Trump is not responsible for the Coronavirus  -   it escaped from a Chinese bio weapons lab in Wuhan. See my thread in Fringe.

Greg lives trump....he has to blame trump for that.

Captain Caveman wrote on Mar 13^th, 2020 at 7:18am:

Bobby. wrote on Mar 13th, 2020 at 7:03am: greggerypeccary wrote on Mar 13th, 2020 at 6:39am: Bobby. wrote on Mar 13th, 2020 at 6:31am: Bobby. wrote on Mar 13th, 2020 at 5:10am: Sir lastnail wrote on Mar 12th, 2020 at 12:12pm: ASX down 7.7% !!! DOW is down to - 8.5%  right now. DOW down  10%         wow Biggest drop since 1987. ALL thanks to this guy: https://i.dailymail.co.uk/i/pix/2015/12/16/12/2F6915C100000578-0-image-m-15_1450269705441.jpg Trump is not responsible for the Coronavirus  -   it escaped from a Chinese bio weapons lab in Wuhan. See my thread in Fringe. Greg lives trump....he has to blame trump for that.

greg blames him for EVERYTHING....sad init?

cods wrote on Mar 13^th, 2020 at 7:20am:

Captain Caveman wrote on Mar 13th, 2020 at 7:18am: Bobby. wrote on Mar 13th, 2020 at 7:03am: greggerypeccary wrote on Mar 13th, 2020 at 6:39am: Bobby. wrote on Mar 13th, 2020 at 6:31am: Bobby. wrote on Mar 13th, 2020 at 5:10am: Sir lastnail wrote on Mar 12th, 2020 at 12:12pm: ASX down 7.7% !!! DOW is down to - 8.5%  right now. DOW down  10%         wow Biggest drop since 1987. ALL thanks to this guy: https://i.dailymail.co.uk/i/pix/2015/12/16/12/2F6915C100000578-0-image-m-15_1450269705441.jpg Trump is not responsible for the Coronavirus  -   it escaped from a Chinese bio weapons lab in Wuhan. See my thread in Fringe. Greg lives trump....he has to blame trump for that. greg blames him for EVERYTHING....sad init?

Delusional.

cods wrote on Mar 13^th, 2020 at 7:20am:

Captain Caveman wrote on Mar 13th, 2020 at 7:18am: Bobby. wrote on Mar 13th, 2020 at 7:03am: greggerypeccary wrote on Mar 13th, 2020 at 6:39am: Bobby. wrote on Mar 13th, 2020 at 6:31am: Bobby. wrote on Mar 13th, 2020 at 5:10am: Sir lastnail wrote on Mar 12th, 2020 at 12:12pm: ASX down 7.7% !!! DOW is down to - 8.5%  right now. DOW down  10%         wow Biggest drop since 1987. ALL thanks to this guy: https://i.dailymail.co.uk/i/pix/2015/12/16/12/2F6915C100000578-0-image-m-15_1450269705441.jpg Trump is not responsible for the Coronavirus  -   it escaped from a Chinese bio weapons lab in Wuhan. See my thread in Fringe. Greg lives trump....he has to blame trump for that. greg blames him for EVERYTHING....sad init?

Like the good old days at school.
When someone liked someone else....they picked on them relentlessly and in the end they made out.

Maybe a threesome with longy. Another of trumps fans.   

Bobby. wrote on Mar 13^th, 2020 at 5:10am:

Sir lastnail wrote on Mar 12th, 2020 at 12:12pm: ASX down 7.7% !!! DOW is down to - 8.5%  right now.

DOW down  10%         wow

Captain Nemo wrote on Mar 12^th, 2020 at 2:38pm:

The problem is ... you can't say when the bottom has been reached until after it comes up again without being a "dead cat bounce" ... some time to go yet probably before we find out where the bottom of the market was. Of course, by then we will have missed the absolute bargain prices, but still will be buying shares at a massive discount to where they were a couple of months back. It ain't all bad. Shares are a long term investment.

A VERY long term investment.

It took the Dow Jones until 1954 to reach the value it had in 1929 before the market crashed.

Bam wrote on Mar 13^th, 2020 at 7:53am:

Captain Nemo wrote on Mar 12th, 2020 at 2:38pm: The problem is ... you can't say when the bottom has been reached until after it comes up again without being a "dead cat bounce" ... some time to go yet probably before we find out where the bottom of the market was. Of course, by then we will have missed the absolute bargain prices, but still will be buying shares at a massive discount to where they were a couple of months back. It ain't all bad. Shares are a long term investment. A VERY long term investment. It took the Dow Jones until 1954 to reach the value it had in 1929 before the market crashed.

lets not forget WW11 might have had an effect...and after the war it was austere    very much so in England.

it could be tough for those retiring in the near future

cods wrote on Mar 13^th, 2020 at 7:56am:

Bam wrote on Mar 13th, 2020 at 7:53am: Captain Nemo wrote on Mar 12th, 2020 at 2:38pm: The problem is ... you can't say when the bottom has been reached until after it comes up again without being a "dead cat bounce" ... some time to go yet probably before we find out where the bottom of the market was. Of course, by then we will have missed the absolute bargain prices, but still will be buying shares at a massive discount to where they were a couple of months back. It ain't all bad. Shares are a long term investment. A VERY long term investment. It took the Dow Jones until 1954 to reach the value it had in 1929 before the market crashed. lets not forget WW11 might have had an effect...and after the war it was austere    very much so in England. it could be tough for those retiring in the near future

ASX   futures down  7.5% for today.

ASX down 4.88% now.

All Ords has lost about 32% since its peak on 20 February.

ASX down 8.08%

ASX staging a rally in the last hour before close.

It's down only  2.23.%

ASX up 2%       :o

The ASX closed 4.42% up.

That is a wild ride from being 8% down!

Those bastard short-sellers would have got burned badly today.  ;D

Captain Nemo wrote on Mar 13^th, 2020 at 5:20pm:

Those bastard short-sellers would have got burned badly today.  ;D

Still -

investors have lost $700 billion in 3 weeks.

Paper losses yes.

The market always has recovered from a crash, it just takes time.

Captain Nemo wrote on Mar 13^th, 2020 at 5:31pm:

Paper losses yes. The market always has recovered from a crash, it just takes time.

I reckon our gigantic debt hasn't helped:

ScoMo will have to borrow more money
for the cash handouts.
I suspect the national Govt debt
will now be $800 billion.

That's 4 times Rudd's debt of $200 billion.

Yep, a big debt but it is either that or suffer massive unemployment.

I'd opt for increased debt.

Captain Nemo wrote on Mar 13^th, 2020 at 5:34pm:

Yep, a big debt but it is either that or suffer massive unemployment. I'd opt for increased debt.

But even with an impossible budget surplus of $100 billion
per annum for 8 years it would still not be paid off
as there is interest too.


It will never be paid off.
We will owe it forever and it will increase.

Captain Nemo wrote on Mar 13^th, 2020 at 5:34pm:

Yep, a big debt but it is either that or suffer massive unemployment. I'd opt for increased debt.

Me too.

But it is funny/tragic/typical of those who support the Liberal Party who were foaming at the mouth of the idea of Rudd and Swann doing this are now supporting Morrison doing the same thing, from a much weaker economic position with the policy designed politically first meaning the outcomes will be less benefit per $ spent.

...after the Virus does it's work of putting all the greedy Economies in bed for ages.

The Riots will start - people gathering in mass numbers like they never were allowed to during the Viral downturn.

Then the Wars will start to put those Rioters to work in the Real Estate Industry - like when China takes resource rich Siberia from a rusted out Russia (where Putin flees like Rasputin).

The World will Burn! (and Celeste Barber will be asking for more money to put them out).

Budget surpluses are not money in the bank - they are forward estimates that rarely, if ever, pan out.  Same with deficits... with both usually ending up deeper in the hole than predicted.

Borrow, borrow, borrow from potential future enemies - then when Der Tag comes, all debts to enemy combatant nations are written off... so suck deeply of the Chinese teat while it lasts... get 'em to pour cash into the joint in the hope of establishing Austrochine - The New South East Province... then rip 'em off!

The ruling elite (self-appointed) over there have plenty to tide them over...

Sir lastnail wrote on Mar 12^th, 2020 at 9:58am:

Baronvonrort wrote on Mar 10th, 2020 at 1:18pm: Sir lastnail wrote on Mar 9th, 2020 at 12:24pm: Baronvonrort wrote on Mar 9th, 2020 at 12:09pm: Gordon wrote on Mar 9th, 2020 at 11:36am: Sir lastnail wrote on Mar 9th, 2020 at 11:34am: ASX down 6.1% !! A smart bloke like you would see this as a buying opportunity, right? Nah Nails doesn't have any money. Smart is offloading 3000 Commonwealth Banks shares on Thursday afternoon at $77.50 then buying them back at $70.08 today for a tidy sum in a couple of days. The Commonwealth bank isn't going to go broke the lefties continually whinge how banks are crooks..lol You got a margin call did ya ;) LOL and how much cash reserves does the bank have to cover it's bad loans ?? And how much of its loan book is in property ?? when scumo and co no longer have any more cans to kick down the road to keep their housing ponzi scam going what you going to do with your bank shares ?? Maybe use them as dunny roll :D LOL If I waited a bit longer I could have made far more, I didn't think it would go much below $70 before bouncing back. The price dropped down to $65.80 this morning and has rebounded to $71.24. https://www.google.com.au/search?source=hp&ei=rgRnXomvJ-yQ4-EPiY6ekAg&q=commonwealth+bank+share+price&oq=commonwealth+bank+share+price&gs_l=psy-ab.3..0i131i70i250j0i131j0j0i131j0l6.1047.11611..12390...1.0..1.687.5434.0j24j4j1j0j1......0....1..gws-wiz.......0i10.2NYLfZbRJpg&ved=0ahUKEwiJvsf59o7oAhVsyDgGHQmHB4IQ4dUDCAc&uact=5 The Banks aren't going to go broke people get paid with bank deposits instead of going to the pay office, the recent ban on cash transactions over $10K means they will be around for quite some time. We are moving towards a cashless society we can't do that without banks.  :) My Westpac shares wouldn't have given as much in a return by selling them high then buying them back. The hoarders stocking up on dunny paper, rice ,pasta etc means my Woolworths shares will continue to do well. Might sell my Westfield shares in the future. Frank Lowy is no longer in control and the world is moving further towards online shopping. Not many vacant shops in any Westfields these shares have performed well over the last 30 years. You should have waited a few more days. It was only a dead cat bounce ;)

It finished higher on Friday compared to where it started in the morning.

The 2009 crash was much worse those who sold up lost huge amounts those who held onto them did very well.

To avoid paying CGT I bought more Westpac shares.

USA SM dropped considerably in its last hour yesterday.
President of USA says the word "Recession" in a press conferance.

Corona Virus cleanses the filth from the planet.

Probably another 10% drop for us - or even more - today ...

Hold onto your hats, it can and probably will drop even further.

:o

Well, that's a surprise ... our market is up today ...

Then again, it is early in the trading day.  :-?

Captain Nemo wrote on Mar 17^th, 2020 at 10:57am:

Well, that's a surprise ... our market is up today ... Then again, it is early in the trading day.  :-?

dow futures are up so the ASX has dodged a bullet today !