Greynomad99 Weekly ASX review

Greynomad99 · 2 May 2022

I overlooked posting the link to my blog yesterday - https://sharecharting.com.au/blog-example

Not a lot to say this week, mainly concern whether the current heavy falls we're seeing are going to turn into another correction. Certainly the Nasdaq chart looks like the glide path of a brick and let's not talk about a correction there as it is well into a bear market - or as some prefer to say a 'crash'. I'm still optimistic for our market but it is getting harder to keep a positive perspective.

Sean K · 2 May 2022

Greynomad99 said:
I overlooked posting the link to my blog yesterday - https://sharecharting.com.au/blog-example

Not a lot to say this week, mainly concern whether the current heavy falls we're seeing are going to turn into another correction. Certainly the Nasdaq chart looks like the glide path of a brick and let's not talk about a correction there as it is well into a bear market - or as some prefer to say a 'crash'. I'm still optimistic for our market but it is getting harder to keep a positive perspective.

It's hard to watch paper profits disappear sometimes, but when you have a wad of cash on the side these downturns are exactly what you might have expected and wanted. I'm buying when the market is red.

Rabbithop · 2 May 2022

Greynomad99 said:
I overlooked posting the link to my blog yesterday - https://sharecharting.com.au/blog-example

Not a lot to say this week, mainly concern whether the current heavy falls we're seeing are going to turn into another correction. Certainly the Nasdaq chart looks like the glide path of a brick and let's not talk about a correction there as it is well into a bear market - or as some prefer to say a 'crash'. I'm still optimistic for our market but it is getting harder to keep a positive perspective.

Happy to see your weekly posting this evening. Didn't see your posting on the weekends and my mind started to wander, is he ok or has he gone Bush again.

Rabbithop · 2 May 2022

Sean K said:
It's hard to watch paper profits disappear sometimes, but when you have a wad of cash on the side these downturns are exactly what you might have expected and wanted. I'm buying when the market is red.

My portfolio n watchlist all in RED except BPT green in the watchlist. Likewise holding on my money pot to catch the falling knife or knives, hoping my wounds won't be too deep if I do manage to catch those knives.

divs4ever · 2 May 2022

Rabbithop said:
My portfolio n watchlist all in RED except BPT green in the watchlist. Likewise holding on my money pot to catch the falling knife or knives, hoping my wounds won't be too deep if I do manage to catch those knives.

try not to catch them IN your feet

good luck

Greynomad99 · 2 May 2022

Rabbithop said:
Happy to see your weekly posting this evening. Didn't see your posting on the weekends and my mind started to wander, is he ok or has he gone Bush again.

I'm supposed to be in Hungerford Queensland (population 23 so very, very remote) but rain and some back surgery for my other half have delayed lift off until mid-June. Given the Outback nights will be cold in June (the van has ducted gas heating), from there I might head north east to the coast in search of warmer conditions.

DrBourse · 3 May 2022

Telamelo said:
Good luck trying to fish NST for $8.30 or lower (Gold would need to crash imo & this ain't going to happen anytime soon)

Hi Telamelo,
Back on11th March NST SP was abt $11-00 when I made the $8.30 call, looks like your Good Luck call is working for me.
Hope you have some spare cash on hand.
NST @ $9.43 today, is approaching our Buy Zone of $8.50 to $8.30, AND the Gold Price does not seem to have crashed, YET.
Hmmmmmmmmmmm.

qldfrog · 3 May 2022

DrBourse said:
Hi Telamelo,
Back on11th March NST SP was abt $11-00 when I made the $8.30 call, looks like your Good Luck call is working for me.
Hope you have some spare cash on hand.
NST @ $9.43 today, is approaching our Buy Zone of $8.50 to $8.30, AND the Gold Price does not seem to have crashed, YET.
Hmmmmmmmmmmm.
View attachment 141203

Gold was crashing last night in us

Rabbithop · 3 May 2022

qldfrog said:
Gold was crashing last night in us

Yes, I am with you..someone did laugh at me too when I posted the low entry price too...My remarks was never said Never...NST has been yo yo at $9 plus. I am still waiting for my willing entry price. Just pick up near to 10k of PLS...Happy with it.

Rabbithop · 10 May 2022

Telamelo said:
Good luck trying to fish NST for $8.30 or lower (Gold would need to crash imo & this ain't going to happen anytime soon)

?? Trying my Luck to fish NST for that price. It's worth waiting..Never say Never...

DrBourse · 10 May 2022

Rabbithop said:
?? Trying my Luck to fish NST for that price. It's worth waiting..Never say Never...

Be careful Rabbit - Yeah NST has reached our Buy Zone, but that was a month ago we calculated that - Current TA Bottom for NST is now lower than $8.00 - not sure exactly how low it will go.
Keep your powder dry M8.
I will post something later today. Bit busy atm.

Greynomad99 · 10 May 2022

For what it is worth my analysis last week put $8.58 as a likely bottom on the price. It hit $8.57 today before bouncing - so it may be going to turn (or it could be the famous dead cat bounce!)
Just a tad busy slashing my writs today!

Rabbithop · 10 May 2022

DrBourse said:
Be careful Rabbit - Yeah NST has reached our Buy Zone, but that was a month ago we calculated that - Current TA Bottom for NST is now lower than $8.00 - not sure exactly how low it will go.
Keep your powder dry M8.
I will post something later today. Bit busy atm.

Good Day Dr. I need to readjust my entry then. Have been sitting at 8.30 for a while. Thanks for the warning. Will adjust to the new low. If it happens then be it.

Rabbithop · 10 May 2022

Greynomad99 said:
For what it is worth my analysis last week put $8.58 as a likely bottom on the price. It hit $8.57 today before bouncing - so it may be going to turn (or it could be the famous dead cat bounce!)
Just a tad busy slashing my writs today!

Thanks GN. Appreciate all the feedbacks. Everyone including me trying to stay calm, go with the rocking. As we Swing High, Swing Low and Merrily here we go.???‍

DrBourse · 10 May 2022

DrBourse said:
Be careful Rabbit - Yeah NST has reached our Buy Zone, but that was a month ago we calculated that - Current TA Bottom for NST is now lower than $8.00 - not sure exactly how low it will go.
Keep your powder dry M8.
I will post something later today. Bit busy atm.

NST – Their IV as at 15/2/22 was within the Range of $7.39 to $8.83.

Back on 14/3/22, Picking the $8.30 to $8.50 low was pretty easy – But picking NST’s next Support Levels is a Very Dangerous thing to do.

HOWEVER.

TA Traders will be looking at Support of abt $8.05, then abt $7.24, then abt $6.78.

Gold Traders will still be looking for ST Declines, but that obviously is dictated by numerous outside influences, IMO Putin will have the final say on where Gold goes to next, and not even Putin knows what he will do next.

ATM All ST, and most MT Inds are still dropping further into O’Sold Territory (Pages 37 - 43).

I would need to see at least 2 positive candles, and a substantial turnaround in the CCI Ind, (Pages108 & 109) and for my MFI Ind (Page 95) to cross up above its 50 Centerline B4 I jump onto the NST Train.

IMO, That turnaround could be this week, but most likely it will take weeks to happen.

Remember that the above is my personal opinion, it is not a recommendation, you must DYOR.
Cheers.
DrB

Rabbithop · 10 May 2022

DrBourse said:
NST – Their IV as at 15/2/22 was within the Range of $7.39 to $8.83.

Back on 14/3/22, Picking the $8.30 to $8.50 low was pretty easy – But picking NST’s next Support Levels is a Very Dangerous thing to do.

HOWEVER.

TA Traders will be looking at Support of abt $8.05, then abt $7.24, then abt $6.78.

Gold Traders will still be looking for ST Declines, but that obviously is dictated by numerous outside influences, IMO Putin will have the final say on where Gold goes to next, and not even Putin knows what he will do next.

ATM All ST, and most MT Inds are still dropping further into O’Sold Territory (Pages 37 - 43).

I would need to see at least 2 positive candles, and a substantial turnaround in the CCI Ind, (Pages108 & 109) and for my MFI Ind (Page 95) to cross up above its 50 Centerline B4 I jump onto the NST Train.

IMO, That turnaround could be this week, but most likely it will take weeks to happen.

View attachment 141434
Remember that the above is my personal opinion, it is not a recommendation, you must DYOR.
Cheers.
DrB

Thanks Dr B and yes to your reminder. We are responsible for our own Trading, it's our hard earned money. Members are kind enough to post Their Opinions and it's up to individual to read n digest or just move on. Cheers Dr.

Greynomad99 · 11 May 2022

Yesterday's candles looked like the tide might be turning, but S&P and Dow both made new lows during their trading. Despite closing off those lows, that isn't promising for a a big recovery here today. Time to sit quietly in a dark corner I think.

DrBourse · 11 May 2022

Greynomad99 said:
Yesterday's candles looked like the tide might be turning, but S&P and Dow both made new lows during their trading. Despite closing off those lows, that isn't promising for a a big recovery here today. Time to sit quietly in a dark corner I think.

M8 Don't sit in Dark Corners for too long - We may have to start calling you "GN The Mushroom".

divs4ever · 11 May 2022

it MIGHT be a day for gold miners to move lower , now that might be unattractive for traders , but nice for accumulators

good luck everybody

Greynomad99 · 11 May 2022

DrBourse said:
M8 Don't sit in Dark Corners for too long - We may have to start calling you "GN The Mushroom".

Ahh mushrooms - living in the dark and living on BS (sounds like a good definition of share trading at the moment!)

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