Daytraders Aftermarket Lounge 24th Augus, page-103

Horrible day on the market but it has been building for months. From my mind there is nothing serious enough to warrant a crash at this stage.

Bad debts from Chinese margin lending seems the most obvious however from my understanding the gearing levels aren't that high and the chinese have trillions to inject to support the economy.

Chinese local government borrowing is also a risk but their debt isn't getting called in.

Tomorrow will 've pain as the oldies regret chasing dividends and sell down after hearing the news today. The big hits on the juniors we love will have been hit the worse today but the ASX 200 will have its worst day tomorrow.

Bargains to be had on Thursday or potentially Wednesday afternoon for the brave.

A lot of active managers have been 60% cash for months as everything was overvalued, the current correction still has more legs but their will be value when it's over.

Whilst I don't see this as a crash, I lived through the GFC (my first crash) and the writing was clearly on the wall well before it occurred. Was 90% cash at the time however my biggest regret wasn't losing money whilst invested; it was being too big a pussy to put my money in when I knew it was it was the right time; when everyone is panicing.