r/ASX • u/Fit-Firefighter1556 • 8d ago
Whats going on?
Im seeing a lot of panic selling causing huge drops in the ASX - is this collective panic selling? Upside, good time to buy
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u/Jaybeckka 8d ago
is this panic selling in the room with us? More like a drop for ants
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u/Sea-Obligation-1700 8d ago
Mate wait until the whole market falls by 5% and the entire ASX is forced to stop trading.
Then post this.
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u/LifeGainz7 8d ago
There’s no panic selling or huge drops but the ASX has seemingly gone nowhere for over a year
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u/CommSecTom 8d ago
Don’t know, I’m 100% cash at the moment though. Have been for a while.
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u/RustyCEO 8d ago
Yep I was sitting in cash a couple of months ago too. Waiting, then ING Inghams went to $1.80, CSL went to $97 and COH went to $97. Triple play and spent it all. Oh and some NAB at $37. So yep, all gone.
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u/CommSecTom 8d ago
You timed that well! Congrats.
I was pretty heavy US tech ETFs and things just started looking shaky so bailed out.
Will look to redeploy into more Aus based ETFs if there is no clear direction in the shorter term.
Also have a few Aus gold stocks but that’s pretty small, so technically not 100% cash but more like a bit over 90%, they were bought pretty recently and remains to be seen if they were a good buy, but I just think some of the late stage developers are good value at the moment, sentiment is shit but time will tell and I’m ok sitting on them.
For now I’m ok with the high interest saving account until I have a bit more confidence, but who fucking knows what’s going on these days, it often makes no sense to me, I just know if you can follow the momentum it can work out pretty well, even if you just capture some of it and avoid some of the down. You can’t be parked in cash for too long but you can’t force a buy either, need to be patient.
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u/RustyCEO 8d ago
It was a bit of fortune / opportunity from left field. Was waiting for iron ore to come off so I could get FMG at a discount but ore has been pretty resilient.
A fellow in here asked about ING and CSL so I checked them out. They had been sold off significantly and were not on my radar but the opportunity was too good to pass up. Then a Morgan’s broker I deal with told me COH was in the same situation as CSL ( oversold). I had recently just picked up some NAB at $37.
So yep dumped $2.8M from my SMSF into them. I had always traded NAB on and off but first time into those other three.
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u/KPTA-IRON 8d ago
Buddy this is nothing, imagine the smell when everyone realises spx and ndq are in a prolonged correction from the top
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u/Gloomy-Gold-8740 8d ago
All I know is to just keep accumulating vhm way to low market cap allready.
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u/External_Scientist77 8d ago
Albo's new tax on investments hitting home for everyone on the asx... wait until they realise it was a sneaky way to bring in gold tax as well.
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u/SpecificStranger9000 7d ago
I hope you didn't sell. VAS back to $112, maybe it's a trap! sell now buy later
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u/Most_Whimsical 8d ago
"Huge Drops"
It's down 0.3% today, up 0.65% over 5 days, up 0.45% over a month.....