I had to talk to my son yesterday Not to sell his shares, he...

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dandydon

1,740 Posts.

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10/11/16

10:56

Post #: 20512064
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Originally posted by possum2 ↑

I woke to the news this morning that the ASX had the busiest day on record yesterday with the most number of trades executed. I would assume from this there would have been a larger then usual number of online buying and selling. Probably more sellers then buyers.

34 billion was lost on our markets yesterday. At one stage we were almost 4% down when we touched a 200 point drop. That would have resulted in almost a 70 billion dollar loss had we stayed there.
Rarely have I seen as much panic in the space of 2 hours as I witnessed yesterday when the market went into freefall.
I posted yesterday on the fact that so many investors unfortunately don't know what they are doing . If anyone needed proof of this you only had to look at yesterdays trading. I say unfortunately, because they actually cause harm to every other investor out there when they dump their stock for no good reason.
It reminded me of that movie Trading Places where bodies were jumping over each other trying to sell their stock.
Today we wake up to Wall Street doing the exact opposite to what we did. We were sucked in to believe that Wall Street would get hammered by the futures market showing a 600 point thumping was on it's way. Wall Street was about 250 up when I last looked.
So those investors that followed the herd yesterday and sold out because everyone else was selling, will now be thinking of getting back in at a higher price and paying for their ignorance.
As I posted yesterday, the world will continue to go on irrespective of who is the President of the U.S
Companies will continue to make profits , people will continue to buy food, continue to buy cars , will continue to buy appliances etc etc.
The only thing that changed yesterday was the reduction in the market caps of most stocks listed on the exchange.
Today those market caps will be restored in some shape or form.
But it proved once again that when you have a large group of investors who only know how to follow the herd what a dangerous place the share market can be to invest ones money..

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I had to talk to my son yesterday Not to sell his shares, he called me saying that the market has crashed and losing shitloads , this what I asked him
1. do you need the money now, NO
2. do you have time on your side, YES
3. do you have spare cash that you don't need, YES
4. then why don't you buy some more, NOT SURE
5, he eventually bought some more

TODAY

He's happy that I talked him out of selling his shares and also make a quick buck too

Golden rule, don't panic,

DD

ALC Price at posting: 9.7¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 6.1¢		Change 0.003(5.17%)		Mkt cap ! $81.92M

Open	High	Low	Value	Volume
5.8¢	6.1¢	5.7¢	$59.00K	991.3K

Buyers (Bids)

No.	Vol.	Price($)
1	340873	5.9¢

Sellers (Offers)

Price($)	Vol.	No.
6.1¢	262565	5

View Market Depth

No.	Vol.	Price($)
1	340873	0.059
1	124844	0.058
1	175385	0.057
3	119305	0.056
3	453491	0.055

Price($)	Vol.	No.
0.061	262565	5
0.062	165703	3
0.063	100000	1
0.064	173238	2
0.065	53758	3

Last trade - 16.10pm 19/11/2024 (20 minute delay)

ALC (ASX) Chart

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