How low can this go DC? might put the house on it lol

First 171 Last

Share
Profile

Follow
ProlificInv

597 Posts.

52

16/03/23

17:00

Post #: 66807102
Share

Originally posted by dc1234: ↑

Are we staring at 2008 style crash?
.Yes AGE lost 3 pips to finish at 3c. Our volume today was comparatively quite high, just over 29m shares traded. Another 52 week low today. Yesterday I had written that this trading range is from 3 to 3.8. Today it played that lower number and finished at it. Lets hope that's it and markets behave.
.
ASX U stocks were quite weak today. Of the 28 stocks that I track, average loss was around 3%. A lot of U stocks made their 52 week lows today. This is the lowest point for many stocks and ASX U stocks. The question is - Is that it or can it go lower?
.
Overnight US U stocks were very weak - average loss around 4%. U Future lost another 25c to finish on $50.05.
.
What next:
.
Yesterday the PPI data was supposed to drive the market. But I had also written yesterday - But the markets are so fragile and volatile that any one one news can make it drop suddenly. And we got that news with Credit Suisse. rest we all know. PPI data came in good so it tempered the fall a bit. If PPI had not come in good, indices would have fallen between 4 to 5%. SP 500 finished at 3891, down 0.7%. It lost the key level of 3900. ASX had a bigger fall around 1.5%.
.
So what is happening or going to happen? There are always two sides of opinion but the majority view is not good. Many are finding a very strong co-relation with 2008. Initially it was the charts which were going similar - we did a slight divergence recently but still very close. Now a strong co-relation is also being found in how the banks are collapsing. So very ominous signs. Those who have reading my posts, nearly every day I have been saying that there are some strong bears who have been calling for a drop to around 3250 for last 8 months or so. Something whose probability has increased.
.
But not everyone is gloomy. At this stage the charts are showing a lot of divergence and are showing signs of a short term bounce. SP 500 is below 200 day moving average but Nasdaq is above. Some feel SP 500 will cross 200 dma and move towards 50 dma and may have a play around 4000 soon.
.
The second thing which has happened is that Michael Burry, the Big Short, the most gloomy person, is saying that this banking crisis will get resolved quickly with the help of the regulators. He has gone ahead to say that the markets may be bottoming here if not already bottomed. This is comparing with a similar situation with 1907 crisis. So some hope there - but every one has views and only few will be right, but at least gives some hope.
.
Lead Indicators - VIX jumped more than 20% yesterday intra-day before settling at around 10% gain. Yields though had a big drop on the back of good PPI data. Dollar Index too fell. So all mixed signals.
.
Personally I picked a few today not much. Sentiment is still Extreme Fear and Economic Condition shaky. Bought on Technicals only due to divergences. Will exit if we do not get a bounce. Overall its still time to be defensive hence playing small.
.
So what will happen tonight? US Futures slight green. Asian markets largely red. Bitcoin confused - stuck at mid 24k. Some more economic data but don't think it will have much affect. Another news could have more devastating affect. Next major number is coming Wednesday - Fed Rate Rise decision. I feel if there is no major bad news, we could see a bounce from here - maybe after some consolidation. Will that happen? Lets hope so. All the best.

Expand

How low can this go DC? might put the house on it lol

AGE Price at posting: 3.0¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

There are more pages in this discussion • 356 more messages in this thread...

First 171 Last

Add AGE (ASX) to my watchlist

(20min delay)
Last 6.2¢		Change 0.003(5.08%)		Mkt cap ! $228.2M

Open	High	Low	Value	Volume
5.9¢	6.2¢	5.9¢	$230.4K	3.809M

Buyers (Bids)

No.	Vol.	Price($)
18	594983	6.1¢

Sellers (Offers)

Price($)	Vol.	No.
6.2¢	970370	12

View Market Depth

No.	Vol.	Price($)
18	594983	0.061
11	2860234	0.060
12	949171	0.059
10	1026362	0.058
12	1659620	0.057

Price($)	Vol.	No.
0.062	970370	12
0.063	1090846	13
0.064	996583	8
0.065	888318	12
0.066	2045268	7

Last trade - 10.25am 29/05/2024 (20 minute delay)


Last 6.2¢		Change 0.003 ( 6.90 %)
Open	High	Low	Volume
6.0¢	6.2¢	6.0¢	1398584
Last updated 10.34am 29/05/2024 ?

AGE (ASX) Chart

How low can this go DC? might put the house on it lol

Featured News

Biome looking healthy as sales send shares soaring

Market Close: ASX dips under with only Staples in the ascendancy

Market Open: Jitters rule ahead of today's CPI data

Mineral sands ramp up in WA shows Thunderbird flying towards name plate capacity

Future Battery Metals has high-grade Big Red pegmatite in its sight for drilling

Buyers (Bids)

Sellers (Offers)

Featured News

How low can this go DC? might put the house on it lol

Featured News

Top Stories

Biome looking healthy as sales send shares soaring

Market Close: ASX dips under with only Staples in the ascendancy

Market Open: Jitters rule ahead of today's CPI data

Mineral sands ramp up in WA shows Thunderbird flying towards name plate capacity

Future Battery Metals has high-grade Big Red pegmatite in its sight for drilling

Buyers (Bids)

Sellers (Offers)

Featured News