sharemarket discussion thread (2 Viewers)

[Rafy]

look at the aussie dollar :s below 65 US cents. down sharply on every currency. even the rouble.

at least other country's currencies are doing ok, whilst their stock market dies.

Recovered most of that drop. Now at ~0.685

Quite Volatile.

Since 3pm: http://www.ozforums.com.au/uploads/21_aud.png

 

[chicky_pie]

Lets just pray we don't end up with 25 USD cents :rofl:

 

[chicky_pie]

Can someone explain to me why the value of our dollar is falling so drastically compared to other countries.

This is shite my super is like crumbling and if the dollar drops any further against the yen I'll have plane tickets to japan but i won't be able to afford to go there.

I'm with you as well, I'm planning for a U.S trip next year, guess I have to settle for BALI LOL, no seriously our dollar is shit atm but we're holding up good compared to other countries, their stock market is crumbling, lol.

 

[Hagaren]

Your super's crumbling? Are you serious?

Dude, you are all of probably 18 years old. Your super balance have absolutely no relevance to you now, other than the fact you should be making contributions!

EDIT: How long are you planning on heading to Japan for? And were you going by yourself?

Yeah I've lost like 1,000 dollars on my super and i'm lucky its only that much because I pulled most of it out of high risk at the start of the year. I know it doesn't really matter too much right now but its still my money only available to me in the future, I've put 2500 into my super every year for the last 4 years so there's still heaps there but it's pissing me off that it could get even worse.

I suppose the Dollar could rise if the US and British banks also announce rate cuts. The nikkei is falling (8.5%) which has the Japanese government worried which could be good for me but atm it means nothing & currency traders are still selling of high-yielding currencies eg. AUD for low-yielding currencies eg. JPY.

Oh and I'm heading to Japan for 17 days Jan 24th - Feb 10th, yeah it's by myself so it should be really fun. The airfares were a graduation gift from my parents but I've got to come up with the funds for the rest of the trip.

 

[stazi]

I'm with you as well, I'm planning for a U.S trip next year, guess I have to settle for BALI LOL, no seriously our dollar is shit atm but we're holding up good compared to other countries, their stock market is crumbling, lol.

our stock market was also crumbling horribly. however, i sense some decent recovery tomoz

 

[Garygaz]

Aussie dollar will keep on falling until the US economy hits rock bottom. Investors worldwide are selling off small currencies and getting into major economies (Japan, US) and buying bonds, our bond market is only $50b. So, technically it's worth more than what it's at, just wait till the US cuts its rates to 0.5% like Japan and then they announce a recession and our dollar rebounds.

Oh and I hear China expects about 160m people to be migrating to cities till 2012, and they need a hell of a lot of resources to do it, they (phone call discussion I overhear everyday) say that equates to around 7 cities around the size of NY. BHP and RIO are looking good for long term investments.

 

[blue_chameleon]

Yeah I've lost like 1,000 dollars on my super and i'm lucky its only that much because I pulled most of it out of high risk at the start of the year. I know it doesn't really matter too much right now but its still my money only available to me in the future, I've put 2500 into my super every year for the last 4 years so there's still heaps there but it's pissing me off that it could get even worse.

I suppose the Dollar could rise if the US and British banks also announce rate cuts. The nikkei is falling (8.5%) which has the Japanese government worried which could be good for me but atm it means nothing & currency traders are still selling of high-yielding currencies eg. AUD for low-yielding currencies eg. JPY.

Oh and I'm heading to Japan for 17 days Jan 24th - Feb 10th, yeah it's by myself so it should be really fun. The airfares were a graduation gift from my parents but I've got to come up with the funds for the rest of the trip.

That's pretty impressive to have put that into Super over 4 years. One thing you need to remember though, is that when you put money into super, it buys units in your super fund. The 9% contributions buy as many units as they can, so when the market is down they can buy heaps more. There's no better time for us to be contributing to Super than now. Compared to someone that shifts to cash, you'll gain back the losses much quicker by buying more units now. It's called Dollar Cost Averaging.

The problem a lot of people have is they look at only their balance, not how many units they hold in their fund.

Well if you're in Japan for 17 days, I suggest you go through Hiroshima. There's a hotel there called the Aster Plaza where the Japanese Government subsidise foreign youth visitors to encourage them to visit the A-Bomb Memorial in Hiroshima. I paid the equivalent of $25/night, and this place was freakin awesome! If you want to save money and still stay in a really nice place, go here.

Also, to get around, it's heaps cheaper through using a Japan Rail Pass than paying for single/return trips on the shinkansen.

Thats all the tips I can think of at the moment. Other than that, there are always Youth Hostels, but make sure you read your reviews on them, cos some can be dodgy.

I'm out of tips for now.

 

[stazi]

ah, fuck. so much for the turnaround. futures are dowwwwwwn on the dji

 

[Rafy]

dollar down 3c in the last hour

 

[Garygaz]

Might as well cancel any plans to go to Vegas after school ends... Anyone willing to make an estimate at how long our dollar will be in free fall for and what will its minimum be?

 

[stazi]

Might as well cancel any plans to go to Vegas after school ends... Anyone willing to make an estimate at how long our dollar will be in free fall for and what will its minimum be?

it's stupid to make such estimates, as they will always be estimates. no one could have estimated that we'd be down from almost parity so rapidly.

 

[chicky_pie]

Might as well cancel any plans to go to Vegas after school ends... Anyone willing to make an estimate at how long our dollar will be in free fall for and what will its minimum be?

Maybe by next year everything would be ok, but till now...no.

 

[blue_chameleon]

As above, yeah good luck with that.

The currency markets are freaking volatile. I could guess mid next year the dollar might be back to around 80-85USD, but that's based on a guess that sounds good to me.

Just keep saving and do it the year after. More money for the stripperz.

 

[stazi]

DJI 2% down a minute after open. Then again yesterday it was up by that much at open, then ended down ridiculously much. Maybe today the reverse will happen. Sadly, I doubt it.

 

[stazi]

oh wow, DJI recovers 1% in no time at all

edit: and still going up

 

[Rafy]

9,260.09 -187.02 (-1.98%)

 

[hopethisworks]

Might as well cancel any plans to go to Vegas after school ends... Anyone willing to make an estimate at how long our dollar will be in free fall for and what will its minimum be?

i am just wondering, did you consider that at age 18 you cannot gamble in vegas?

 

[stazi]

2% down another day when the asx bleeds should follow

 

[Hagaren]

Worldwide interest cuts now in play.
http://money.ninemsn.com.au/article.aspx?id=643809

Doesn't neccessarily mean much for me.
http://money.ninemsn.com.au/article.aspx?id=644006

 

[stazi]

aussie market getting hammered again. my AGS shares down another 10%.

the nikkei isn't doing badly though, after yesterday's huge loss