Stock market

[Citric GT]

Anyone copping it in the stock market?

I just dropped about $1200 in the first 10mins of trading today.

I hope this downward spiral doesn't keep up for too long or it will start to have seriously bad flow on effect thoughout the whole economy. Most peoples super will also be copping it at the moment.

[|||]

anyone with a margin lending facility might be feeling a bit ill lately

[T3ts50]

Mine have dropped significantly. Best thing to do is not look at your shares for a while.

[mowog]

I stopped looking at my shares and super. But I might start buying again next week and see if I can pickup some bargains.

[MRJUCY]

I've been trying to not pay too much attention & just ride it out but I'll probably try & do some bargain shopping next week.

[kremmen]

I'm a basement buyer, get in and get out quick.

Centro was a massive winner for me!

My brother rang me and told me to get on em blah blah blah as he used to work for them. I picked up 80% return = 40k in a day. Rang him and asked him how much he made, and he goes "I didnt buy any, too risky"......

bastard and a legend in one foul swoop

[gozza]

Its a good chance to buy when shares are low - If you have long term projected ones just don't look at them lol

[Daymoe]

Reminds me of when my dad was telling his mother in law and my mum to buy commonwealth bank shares, when they where at 5.45 she had the money to buy over 10,000, they where both saying they'll drop and ill lose all my money blah blah. Now they are $50+ and when ever dad talks to her he goes "The commonwealth bank shares have dropped from 5.45 to $60!"

[T3ts50]

Originally Posted by 90sFTW

Reminds me of when my dad was telling his mother in law and my mum to buy commonwealth bank shares, when they where at 5.45 she had the money to buy over 10,000, they where both saying they'll drop and ill lose all my money blah blah. Now they are $50+ and when ever dad talks to her he goes "The commonwealth bank shares have dropped from 5.45 to $60!"

CBA has now dropped to around $50. All the major banks have been hit very hard.

[Daymoe]

Still a massive difference from $5.45 with 10,000 shares though

[Dave_au]

Originally Posted by Citric GT

I just dropped about $1200 in the first 10mins of trading today.

Remember you only actually lose money if you sell them, too many people panic when shares begin to slide and offload at a loss.

[mr302xd]

A little off topic but how would i get started in the share market. Wheres a good place to start??

Frank

[dave289]

I think today is the 10th day in a row for losses,when will it stop?

[T3ts50]

Originally Posted by mr auxr8

A little off topic but how would i get started in the share market. Wheres a good place to start??

Frank

You can try etrade, or check out www.asx.com.au to find ways to start out, or see a financial planner.

[Citric GT]

Originally Posted by mr auxr8

A little off topic but how would i get started in the share market. Wheres a good place to start??

Frank

Do what I did... Join Commsec and set up a trading account. Its very easy and brokerage is only $19.95 per trade under $25,000 providing you set up an account with them. I've only just started this month and I have to say its becoming a bit of an addiction! I see it as another form of gambling - just with better odds!

[Citric GT]

Originally Posted by T3ts50

You can try etrade, or check out www.asx.com.au to find ways to start out, or see a financial planner.

Yes. ASX is a good place to learn. Try thier free online courses. I did a few of them and they helped make sense of certain things.

[Scone]

I have used Comsec for years. I am ex Commonwealth bank staff tho. I have decided not to look at my super until February.

[Duke]

I'm a day trader and the market is a scary place to be at times, right now is one of those times, however, don't forget that there are people (like me) who can make a lot of money when things go bad.

It's certainly better than going to work for a boss 60+ hours per week.

[Bent8]

The stock market??...I wouldn't touch it with a 50 foot pole!!!

If you must invest, buy gold or silver....you can't lose

[mr302xd]

ok. as somebody who know nothing about stocks really. Wats the first step i should take??

[Paxton]

I'm trying not to look, but I get frantic calls from my Mrs asking what is going on, I can't help it. I've not faired too badly, but if Resources keep taking their tumble, both Rio and BHP are going to be a worry for me.

As has been said, you can't count your portfolio every day. Check it fortnightly, or monthly. I've got an excel spreadsheet with my shares, a number and the Share Price on the 25th of every month (or the Friday before).

[AusM]

Originally Posted by mr auxr8

ok. as somebody who know nothing about stocks really. Wats the first step i should take??

Good and bad advice below - but I don't know which is which!

As others have said, asx.com.au - learn!

Grab mags/books/financial review to get an idea of how things work.

If you're playing with big money, talk to a financial advisor to see if stocks suit your situation. Maybe real estate would be better, maybe a managed fund...

Spend a few months investing play money - give yourself a budget and pretend to buy shares at a certain price. Make a diary and track results.
ASX have a yearly free sharemarket game - everyone starts the same day with the same play money and over 3 months I think, you buy/sell as you wish and see what happens. Prizes for the winner. Great fun!

Shares are best with a long term view (years). Over the last 100 years the overall market has increased about 13%, so investing in big companies that have shown strong growth is safer long term. Big companies still fail though.
Shares can be made safer by buying put options - a contract to sell at a certain price by a certain date - a sort of insurance policy which slightly minimises your returns, but protects your losses. You can also trade options like shares, and make money on price rises OR falls, with high returns but with more volatility and over much shorter timeframes (from hours to weeks). Day trading shares - Duke can confirm? - I'd think you really need a large pot to start with, so that you can make money off a small increase. With a small value of shares, the brokerage fee is a real expense.

Some recommend using a phone broker as you can get information on what the market is doing from someone who follows it full time. Online trading can seem cheaper, but you don't have that experience to support your choices.

Learn to read the charts and don't try to pick the bottom or buy because they seem cheap! Buy something with a strong upward trend!

Spread your investment over a few different shares, which are exposed to different influences (eg a bank, mining company, technology business, construction). Hold on to your shares while they are going up and set yourself limits to when you will sell your losses. I think the last bit is the hardest starting out - you don't want to admit a loss and just hope it will come back (Telstra anyone?). Take a (eg) 20% loss on the chin and escape with most of your cash...

Nothing is certain, or all investors would be winners! You have to be in the market to make money though, and following some basic guidelines can get you much better than 50% odds...

[Kryton]

my shares have been hit about 50c each so far an i havent looked at the Super yet.
it travels in a cycle so im not really phased at this point.
by the time i cash them in, this will be long forgotten.

[Bent8]

Originally Posted by dave289

I think today is the 10th day in a row for losses,when will it stop?

Unfortunately it won't stop, we are only seeing the beginning's of a market meltdown.

CitiGroup and Merril Lynch have both announced a combined lose of over $20 billion for the last quarter thanks to bad deals in the sub-prime's and credit card defaults. Add to that the US housing bubble burst and it's now time to watch the the fireworks....

The question is how much shrapnel will we catch from their financial turmoil?

Time will tell as always....my advice is stay the heck away from the stock market if you intend on keeping your hard earned money in your pocket...

[cob115]

Originally Posted by Citric GT

Anyone copping it in the stock market?

I just dropped about $1200 in the first 10mins of trading today.

I hope this downward spiral doesn't keep up for too long or it will start to have seriously bad flow on effect thoughout the whole economy. Most peoples super will also be copping it at the moment.

yes iv been worried about it to !things are going pear shaped and not getting better,and to make things even worse we got krudd and his bunch of tools running our country , all i can say is batton down the hatches gents were in for a nasty storm

[schnoods]

Just wondering if any wise old heads have could offer some advice.

Bought a few months ago a couple of grand worth of shares, bought em at 27c and they did pretty well in the first month of owning em. They peaked at 39c about a month ago but then they took a turn for the worse and me being me, wasn't keeping an eye on em.

Anyways they are now at 15c which is pretty much half way what they were, it was my first buy and now I'll learn to keep an eye on em.

Now the Question. The company being an Exploration field in the mining sector, Is it worth holding on to recover some sort of loss then flogging, cutting my losses now, or perhaps just forget about em and hope they'll pickup later down the line? The biggest worry I have with em is the graph that depicts their poor performance. For any one who is interested the asx code is YRR.

I'm not too fussed at the moment as I only put 2 weeks wages in this small lot, though I don't want to completely throw the $$$ away, otherwise I would have went to the casino and put it on black.

[AusM]

Originally Posted by Bent8

Unfortunately it won't stop, we are only seeing the beginning's of a market meltdown.

If you're certain of that, as you seem, buy some put options - make money from the decline!

[Duke]

Originally Posted by PFdesign

If you're certain of that, as you seem, buy some put options - make money from the decline!

See, now there's the smart advice.

Bent8, I'm not sure your so called "advice" is coming from a place of knowledge. You might need to learn a lot more about things before issuing such (and I use the term very loosely) "advice".

[Duke]

Originally Posted by schnoods

Just wondering if any wise old heads have could offer some advice.

Bought a few months ago a couple of grand worth of shares, bought em at 27c and they did pretty well in the first month of owning em. They peaked at 39c about a month ago but then they took a turn for the worse and me being me, wasn't keeping an eye on em.

Anyways they are now at 15c which is pretty much half way what they were, it was my first buy and now I'll learn to keep an eye on em.

Now the Question. The company being an Exploration field in the mining sector, Is it worth holding on to recover some sort of loss then flogging, cutting my losses now, or perhaps just forget about em and hope they'll pickup later down the line? The biggest worry I have with em is the graph that depicts their poor performance. For any one who is interested the asx code is YRR.

I'm not too fussed at the moment as I only put 2 weeks wages in this small lot, though I don't want to completely throw the $$$ away, otherwise I would have went to the casino and put it on black.

Schnoods, IMO, stick with it. You haven't exactly "bet the farm" on this one and whilst no one likes to drop money on an investment, you may see a return to better pricing over a period of time.

Sure it's declined to 15c over 11 months but it has the potential to reap the benefits of a mineral discovery or a takeover, should it find any minerals.

Having said that I've put $12k into a computer stock that disappeared, it can happen. Don't take risks with money you can't afford to lose or without putting protection in place.

I invested in LNC a mining company at 18c, check the chart, if you're going to speculate on these smaller stocks you're increasing your risk in the hope of big returns, accept the outcomes as part of taking that risk.

[Ralliart]

my dad does it and drives me insane : :