# Will we hold current levels?



## Ken (20 August 2007)

Gday,

We are 400 points up from a low of 5500 will we hold our current levels.

Chartwise everything looks ugly and it just appears to be a big bounce.

Does the lowering of US rates change evrything??

The market tends to oversell and overbuy.

There would be some big gains out there in very short times.

If you bought ZFX at $14.00 do you take profits at $16.00

The market needs to settle.

No definite trends for a number of stocks, so worth sitting and waiting?

Opinions?

I am not buying at the moment.  

I sold out into the rally today after buying Thursday and Friday


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## insider (20 August 2007)

I'd try not to hold over night that's all... better safe than sorry...


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## wintermute (20 August 2007)

I'd be tipping a drop tomorrow (maybe 20-50% of todays gains?), but then again, maybe the US will follow the Aussie markets lead and head on up tomorrow, if that happens we might see a return to 6000, however I wouldn't count on it staying there... 

From my limited correction experience (May 2006 and Feb this year but mostly may 2006) (and 1998 and 2001 with managed funds) I'd be thinking it will be quite bumpy for another couple of months with panicer's on a hair trigger ready to drop the bundle at the slightest hint of problems... plenty of chances for some more bargains yet I think  

But then again I could well be wrong, Feb was over in a flash, so quick that IMO it really didn't rate as a correction, and we may then go into the euphoric buying spree that I've been tipping, that leads to the market going exponential followed by a big crash... but I digress 

Tony.


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## bean (20 August 2007)

A good indication may be tonight US futures are up so a rise!
Once they open if they stay up for 20 min well they have done well

No Its a matter of when they fall (after 21min).  Or if this rally is more than a one day wonder


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## bean (20 August 2007)

bean said:


> A good indication may be tonight US futures are up so a rise!
> Once they open if they stay up for 20 min well they have done well
> 
> No Its a matter of when they fall (after 21min).  Or if this rally is more than a one day wonder



Looks like less than 10 min for S&P but DOW may hold for 20 min


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## bean (20 August 2007)

bean said:


> Looks like less than 10 min for S&P but DOW may hold for 20 min




It took 19 min for the DOW to go RED I was 1 min out...I just can't get it right


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## bean (20 August 2007)

bean said:


> A good indication may be tonight US futures are up so a rise!
> Once they open if they stay up for 20 min well they have done well
> 
> No Its a matter of when they fall (after 21min).  Or if this rally is more than a one day wonder




Could be right!! Only teasing the Bulls... because I know I will get it if I am wrong


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## theasxgorilla (21 August 2007)

That's quite an impressive monologue there bean, four successive posts each one quoting yourself.


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## BIG BWACULL (21 August 2007)

theasxgorilla said:


> That's quite an impressive monologue there bean, four successive posts each one quoting yourself.



The Dow closed up todaynightmorning hopefully a good day for us?


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## BIG BWACULL (21 August 2007)

BIG BWACULL said:


> The Dow closed up todaynightmorning hopefully a good day for us?




Yes finished by a measly 42.27 points we shall see how today pans


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## BIG BWACULL (21 August 2007)

BIG BWACULL said:


> Yes finished by a measly 42.27 points we shall see how today pans



Maybe if we can forget (or have factored in sub prime issues) and concentrate on what Aussies Have (a ****load of resources with a hungry world) we can shake off this ferocious bear and put the bulls horns up his spincter


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## vvguru (21 August 2007)

Should see some fluctuation as fear may start to creep in but since bhp ann is out on Wed, market should hold up well today.


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