Forum Topics ASX Sudden Rout
Clio
Added 4 months ago

Just noticed the sudden sea of red. Over many sectors, not just smalls, but financials up.

Any of the wise owls on this forum have any idea what triggered it? Someone big finally deciding to pull the plug and that started the ball (the algos) rolling?

For me, it's going to be more a matter of waiting to see how far the falls go. This time (unlike in April) I'm sitting on a nice cache of dry powder and waiting...

The final snippet on the Daily Round up seems prescient.

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Bear77
Added 4 months ago

I'm not seeing it myself @Clio - as over half of my positions are up and it seems that over half the ASX200 are up also - although there were some larger caps that fell pretty hard today - here's the worst of the ASX200 - mostly materials stocks:

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In terms of the ASX and prices, they stuffed up big time at the close last night (Tuesday night) with revisions at the close to Monday's closing prices to what looked to me like half or more of the companies on their list with adjustments between one quarter of a cent and 2 cents, which is what caused the issues with SM not being able to update yesterday's prices last night. If there was a similar hiccup after the close tonight, perhaps everything looked red and then went back to normal. The top ASX200 stocks today now look like this:

90a6e2d46de50bc9ca9281842dc2dd373e8028.png

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Clio
Added 4 months ago

@Bear77 - you're right . Still lots of stocks down in the materials space, large caps to smalls, (LYC, MTM, etc) and stocks like DRO (-11%) but elsewhere on my screen, even with the small caps, it's significantly corrected.

Odd.

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Strawman
Added 4 months ago

The ASX is on a roll with tech stuff ups lately.

I'm sure they have all manner of legacy issues to contend with, but maybe they could spend some of that 50% *net* margin on building better systems. Although that being said, they have very poor form on that front given their failed $200m CHESS "block chain" adventure.

Aaaanyway, we're running a fix at present so it should all be sorted soon.

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Solvetheriddle
Added 4 months ago

@Clio i dont usually pay too much attention to daily moves, too hard and can read too much into it. ill only point out that we have had a big run since April, the US market showed a bit of turbulence last night and finally, its results season, many instos will be flat out, decision-making will be made on the fly, and results see outsized reactions these days. besides that a normal day at the desk lol

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lowway
Added 4 months ago

Wow, you would think with the application as a full service competitor to the ASX by Cboe Australua that they would do everything in their power to run a tight ship. Well at least until the final decision is approved or otherwise!!

Might just prove to be the straw that broke the ASX camel's back.

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Strawman
Added 4 months ago

All prices and trades seem to have updated now. Let us know if you spot any oddities.

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Slomo
Added 4 months ago

@Clio I think part of it might be that many signed up for a game of monopoly but ended up playing snakes and ladders.

And earnings season can be more like whack a mole...

The real trick might be to know which game you're playing and stick to the rules that keep you on track.

Otherwise it could quickly become 'play stupid games, win stupid prizes'

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thunderhead
Added 4 months ago

After the kind of run we have had since April lows, and heading into a seasonally weak period of the year (which, surprisingly, has not reared its head so far), I wouldn't be surprised at all if markets took a breather through short and sharp corrective episodes for the upcoming month or two.

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