ASX 200 prediction
- Thread starter beemer
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greggles
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I predict it will close at 6,315.
Darc Knight
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greggles
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You got a big bet on?
CanOz
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I reckon it will open around 6270, but watch the es open for clues. It should close the gap by days end though.
greggles
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I've got no dog in this hunt, but the US market did rally Friday so a modest rise is probably on the cards. You never know though. Anything can happen and probably will.
Darc Knight
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I was thinking about this last night. What about this friction between Nth Korea and Trump Admin. Little bearing on Market you think?
I say there's nothing new about North Korea and Trump, everyone expected this.
I'm sorry, but your stop loss is going to be contributing to the rise.
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Poor auction results over the weekend will weight down the banks and the ASX 200 index.
Darc Knight
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You still with us @beemer ?
Market kept rising today. Should continue tomorrow unless something changes???
Market kept rising today. Should continue tomorrow unless something changes???
Yeh, i got cleaned out this morning, 15 grand ughhhhhh
Darc Knight
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Hopefully you can make it up at some stage.
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Shame,
Only had to hold out for two extra days … it appears the slide is underway !
Only had to hold out for two extra days … it appears the slide is underway !
Hi Beemer,
You did the right thing cutting your losses. You had your stop loss and you stuck to it.
If you had held on for a few more days you would have rewarded a bad trade precedent and set yourself up for a catastrophic account draw down at some future time.
Personally, I think the asx 200 chart looks very bullish at the current time and you would be swimming against momentum trying to short it. A base seems to be forming at around 6000, and unless ~5940 is broken the direction seems to be up. Instead, a good option, could be loading up long on decent pullbacks.
The obvious play is shorting at this point, as historically this is a major resistance level, however, once this level is strongly broken through, who knows how far it can go up?
I remember when the Dow Jones was sitting at around 12000-13000 points for quite a while, and many market pundits were stating the market was overpriced and it was going to go down!
Trade with North Korea = Zero so short of A Bombs there is no Down side to failure and only upside if there is a win (more than zero trade). And even a win is unimportant as the entire economy of N Korea = 2/5th of F.. all
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