XAO Banter Thread

sammy84 · 6 February 2010

Sometimes people don't fully understand the tool their trading. THe psychology behind gap fills works well on individual stocks, I would say that it is inapplicable on an index with a staggered open.

Gap fills work on the basis that market participants don't like leave price level untested.

marknz88 · 8 February 2010

Trembling Hand said:
I do give "credence" to gaps I trade them day in day out. Just no "credence" to the ones shown on an XAO/XJO chart. That is my point they are everywhere but you cannot find them on a XAO/XJO chart
Understand?

EDIT: I also am starting to understand that spending 20 min trying to explain something in an factual way, such as my attempted at post# 209 is a farking waste of time. And more than likely going to end up looking like a tosser. And end up with being labeled one, as per you last remark.

I appreciated the explanation. This was something that now pointed out is ever so obvious (re the staggered start -> first tick) that I would never have picked up on if it hadn't have been pointed out.

So thanks.

wayneL · 8 February 2010

Timmy said:
I reckon there is a sizeable majority on ASF that, while they may not always fully understand everything you spend time explaining, very much appreciate getting quality information and views direct from a successful trader.

Seconded.

Trembling Hand · 8 February 2010

marknz88 said:
I appreciated the explanation. This was something that now pointed out is ever so obvious (re the staggered start -> first tick) that I would never have picked up on if it hadn't have been pointed out.

So thanks.

Just on the first tick problem. have a look at my blog. On further investigation seems the ASX have changed slightly their method around Feb 08. but it hasn't completely removed the problem.

Will follow it up and see where the change came from.

wayneL said:
Seconded.

finnsk · 8 February 2010

Timmy said:
I reckon there is a sizeable majority on ASF that, while they may not always fully understand everything you spend time explaining, very much appreciate getting quality information and views direct from a successful trader.

Can only speak for my self, but I do appreciate the time and effort that traders like TH, and many others, use trying to teach useless traders like my self, to survive in this difficult game, that at most time make no sense to me, so thank you to everybody that use there time in this way, and I hope that one day I will be able to repay by helping others in some way.

nunthewiser · 8 February 2010

Been on the Turps for 2 days and likely to be for the next 2 days also ......... so my cash is not where my mouth is

so pay no heed to a drunken thought.........

Personally think we may be lucky and have a slight bounce here BUT my thoughts are that any bounce will be brief and we heading for a decent selloff to break this channel south .

Also my Poster ocillitituilator is at an all time high with calls of new highs and continuation of this semi bull charge......

I could be wrong and all the rest of you are right

satanoperca · 8 February 2010

nunthewiser said:
Been on the Turps for 2 days and likely to be for the next 2 days also ......... so my cash is not where my mouth is so pay no heed to a drunken thought.........

Ah you have finally found your edge. As they say, once found just keep doing it, but do remember your liver might not bounce back as well as the market and god for bid, you are right and it is complete failure.

Cheers

Aussiejeff · 9 February 2010

Re: XAO Analysis

Well, well.

The DOW has plunged in late trading - looks like it will finish well BELOW the 10,000 mark.

Anyone like to suggest that is not significant and that the XAO will open UP?

Not this little Black Duck.

Broadway · 9 February 2010

Re: XAO Analysis

Aussiejeff said:
Well, well.

The DOW has plunged in late trading - looks like it will finish well BELOW the 10,000 mark.

Anyone like to suggest that is not significant and that the XAO will open UP?

Not this little Black Duck.

Hey Aussie,
Ill take you up on that, I think the markets in general will treat last night's dip on close as a double bottom from friday night, and we will eventually make a small move up in the next 24-48 hours.

I know its a gutsy call..I know we're in a bear market, but we'll see.

Trembling Hand · 9 February 2010

Re: XAO Analysis

Broadway said:
Hey Aussie,
Ill take you up on that, I think the markets in general will treat last night's dip on close as a double bottom from friday night, and we will eventually make a small move up in the next 24-48 hours.
I know its a gutsy call..I know we're in a bear market, but we'll see.

Yep just like yesterdays excitement faded out so to will todays drop (as my guess). interesting that the rest of Asia was red yesterday.

we always follow wall street

Aussiejeff · 9 February 2010

Re: XAO Analysis

Broadway said:
Hey Aussie,
Ill take you up on that, I think the markets in general will treat last night's dip on close as a double bottom from friday night, and we will eventually make a small move up in the next 24-48 hours.
I know its a gutsy call..I know we're in a bear market, but we'll see.

Hard man! Ya better start buying then to support the AOX.... LOL *edit* - just noticed a lil' spike up after this morning's opening sell-off. That you?

Still, 24hrs IS an eternity in the brave new world of Insta-eMarkets. Plenty of time for the big boys to make some plays and get their mates in high places to release some "unexpectedly good" news before the close.

Good luck...

aj

Out Too Soon · 9 February 2010

Re: XAO Analysis

The more things change the more things stay the same!
I expect doom & gloom for another month or so for whatever random reasons (Greece etc at the moment) & an insipid weak recovery later in the year. After that I wish I knew, wish I realised this earlier in the year too

I'd be investing now (or soon) instead of already fully in

Have fun, **** happens & we might as well grin & bear it (Patiently)

Dark1975 · 9 February 2010

Dark1975 said:
Well the dow is currently down -100 points under the magic 10,000 mark,well if the dow finshes today's trade down,it will be interesting on monday on the xao.I'd say we might be testing 4487 resistance line on the xao,and if it breaks we might see the next leg down to 4000 on the xao/or for the EW's theory forming a larger picture of wc 2.
In saying that,all depends on a lot of factors also,one being the dow,Well monday will be interesting either way,Either a great buying opp/or a larger picture forming for the next leg down,I'm betting the next leg down.[/B]

Does a bear **** in the woods ....tank /baby /tank i'm cashed and ready

Aussiejeff · 10 February 2010

Re: XAO Analysis

The Raging Bull is set to return to the Circus Maximus arena today.

Rumour has it a possible cure for the Big Fat Greek Hangover might be invented sometime in the future.

Well, that's gotta be something to rejoice, eh?

Pizza anyone??

nulla nulla · 10 February 2010

Re: XAO Analysis

Aussiejeff said:
The Raging Bull is set to return to the Circus Maximus arena today.

Rumour has it a possible cure for the Big Fat Greek Hangover might be invented sometime in the future.

Well, that's gotta be something to rejoice, eh?

Pizza anyone??

Had the pizza last night courtesy of a couple of small interday bounces in WOW. The greek bailout rumour swept into the US market and the speculators jumped in for a day trade pushing the dow up more than 200 points before the profit takers started locking in their profits. The close, DOW +150.25 (+1.52%) at 10,058.64 and the NASDAQ +24.82 (+1.17%) at 2,150.87 should bring the bargain hunters and day traders into operation in Australia today as well.

Whether this will see the xao start a rally back above 4750 (not in one day) or be merely a pause before sliding under 4500 remains to be seen. Personally I don't know where it is going but I enjoy reading all the opinions posted, subjective or objective.

tunrida · 10 February 2010

Re: XAO Analysis

Wholly pathetic effort by bulls today given large positive lead by US.
If still long or at least not covered you need to quickly ask yourself why.

Aussiejeff · 10 February 2010

Re: XAO Analysis

tunrida said:
Wholly pathetic effort by bulls today given large positive lead by US.
If still long or at least not covered you need to quickly ask yourself why.

Just as well today was forecast by rampantly bullish economic commentators Craig James etc to be the BIG UP day this week (BHP, CBA et all....)

Otherwise, XAO might have finished near 4400?

PS - Looks like the herd of bulls were determined to get the last bite of the cherry in the post-close bidding war - UP 8pts.

nulla nulla · 10 February 2010

Re: XAO Analysis

I disagree. The banter thread was opened to allow Mr Nunthewiser and Oztrades from the chat site to exchange perspectives in respect of trading styles and interpretation of charts. Other chat site memebers subsequently joined in and then ASF members not given to popping into the chat site also joined in. This "banter" encouraged other ASF members to check out the chat site. (This was actualy before you became a regular in the chat site).

The second issue is your narrow definition of "annalysis". If we stick to hard line interpretaion per the historical definitions, comments, observations and interpretations will become stilted in their narrow interpretaions and the quality and diversity will suffer.

I recommend that the removed posts be restored to enable the continuity of the thread to be preserved and the Australian right of "freedom of Speech" be maintained.

Wysiwyg · 10 February 2010

nulla nulla said:
I disagree.
I recommend that the removed posts be restored to enable the continuity of the thread to be preserved and the Australian right of "freedom of Speech" be maintained.

I disagree. The forum threads are best kept on subject and I have rarely seen an iron fist approach to posters that have gone off on a tangent. Within any dialogue there is usually a stray from subject and I think the forum monitors do the right thing by moving "a collection" of off topic posts to the appropriate thread.

However,

sometimes there is no thread relative to the dialogue tangent and to start one for a brief exchange is not realistic.

nulla nulla · 10 February 2010

Wysiwyg said:
I disagree. The forum threads are best kept on subject and I have rarely seen an iron fist approach to posters that have gone off on a tangent. Within any dialogue there is usually a stray from subject and I think the forum monitors do the right thing by moving "a collection" of off topic posts to the appropriate thread.

However, sometimes there is no thread relative to the dialogue tangent and to start one for a brief exchange is not realistic.

I guess this is one of the reasons I support freedom of speech. Persons with differing view points can express themselves freely without fear of recrimination.

XAO Banter Thread

sammy84

marknz88

wayneL

VIVA LA LIBERTAD, CARAJO!

Trembling Hand

Can be found on the bid

Attachments

finnsk

nunthewiser

satanoperca

Aussiejeff

Broadway

Trembling Hand

Can be found on the bid

Aussiejeff

Out Too Soon

My real name is King Julian ;)

Dark1975

Aussiejeff

nulla nulla

Positive Expectancy

tunrida

Aussiejeff

nulla nulla

Positive Expectancy

Wysiwyg

Everyone wants money

nulla nulla

Positive Expectancy

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