Don't get too excited by today's action

[mick2006]

Seems a fair bit of the rally today has been eaten into by people selling/taking profits into the surge.

Surprised that the Nikkei is now less than 100 points up, could see a bit of a sell down in the ASX in the last hour.

Also Nasdaq futures are already 2% down, due to the poor outlook from Apple.

Hope people didn't get caught buying at the highs of this morning.

 

[treefrog]

Seems a fair bit of the rally today has been eaten into by people selling/taking profits into the surge.

Surprised that the Nikkei is now less than 100 points up, could see a bit of a sell down in the ASX in the last hour.

Also Nasdaq futures are already 2% down, due to the poor outlook from Apple.

Hope people didn't get caught buying at the highs of this morning.

right there mick - at market open for CBA $52, now near $50 and trending down

 

[Kauri]

lifes hard... then you die...
it's what you do that counts
Cheers
.........Count Kauri

:alcohol:

 

[cordelia]

I bought in and out of the same share 3 times....and made a reasonable profit..not huge but better than a days wage. There's a lot of movement so it wasn't so hard...I don't want to hold over night in this market.....

 

[wildmanchris]

MQG looks a bit the same - given lots back from the days high of 63.49 - back to 59.17.

 

[BIG BWACULL]

IM EEEXXXXCITED, Had a paper profit then a paper loss, then back to a paper profit, AHHH Well still got a while yet before i realise some good gains (The life of an investor) Good luck to all with their emotional roller coaster after all its only money just make sure you have some in the kitty to live and get to work

 

[Wysiwyg]

Traders heeding your thread title with much downward pressure in the last hour today.But what if the incline continues?

 

[chewy]

Looked pretty possitive to me -I saw no evidence of "much downward pressure in the last hour" actually it rose over the last half hour - isn't that a good sign?. I think the Aus inflation data tempered the rally a bit with concerns of another rate rise (but personally I still believe the RBA will hold off on this one).

Fingers crossed for the following to occur in the near future:
- US Fed cuts another 50 points at end of month
- RBA holds Aus rates steady
- Bush's stimulus plan rises to > 150billion and details are well recieved
- Iron Ore negotiations conclude >30% increase in conract prices
- Aus companies start reporting record profits
- Subprime related issues begin to dwindle rather than expand

heh call me an optimist

 

[korrupt_1]

Looked pretty possitive to me -I saw no evidence of "much downward pressure in the last hour" actually it rose over the last half hour - isn't that a good sign?.

I'd say the last hour rally was caused by traders closing their shorts... adding massive amounts of BUY orders into the system.

 

[blablabla]

Last night there was panic in USA. Due presumably to political pressures they are refusing to let their market correct, so the big crunch has yet to come. Despite the huge rate cut, the DJI fell 128 points last night to 11971 and the DOW futures are now at 11872.

Meanwhile here in oz inflation is up and another rate hike may be on the cards.

Prediction for tomorrow: it's game on - bargain hunters vs reality. Hard to pick who will be the winner.

 

[Temjin]

Fingers crossed for the following to occur in the near future:
- US Fed cuts another 50 points at end of month
- RBA holds Aus rates steady
- Bush's stimulus plan rises to > 150billion and details are well recieved


heh call me an optimist

Personally, I would love these to occur because it means inflation will get worse and gold price will rise even further.

 

[jersey10]

I bought in and out of the same share 3 times....and made a reasonable profit..not huge but better than a days wage. There's a lot of movement so it wasn't so hard...I don't want to hold over night in this market.....

which share was it cordelia?

 

[Smurf1976]

I fear the inevitable (recession/depression) is coming, and the feds just keep postponing it, thus it will make it bigger when it comes.

Strongly agreed. The last recession was "missed" through ultra low interest rates and it looks like they're trying it again. All that means in the end is we fail to address the massive imbalances that have built up in the economy - recessions are necessary and normal in order to do that.

The whole game is very much like trying to win a motor race by missing pit stops. Short term gain which leads to something failing catastrophically.

 

[Awesomandy]

HSI rose 2332.54 (10.72%). Now, that's exciting.

(Still, I wouldn't hold anything over night right now.)