How much have you lost on shares in the last 3 days?

[Ageo]

Think we could have seen the last shake out.

Have reached the Elliot wave analysts 4800 area.
Wouldnt expect a "V" bottom.

Strong buying confidence going it W/E.
Should see this continue in Off shore markets O/N.

I hope not, i want the correction to move further down if possible because one it bounces back and the bulls take over its gonna be another long run.

And BHP imo will hit the $33 mark in 6 months (if not much sooner).

 

[GreatPig]

Interesting day - market up a fair bit but still heavily down in resources (at least the ones I keep an eye on).

A few of the stocks I watch for investment are back around their longer-term trend lines now, so will be keen to see what the market does next week. Was toying with picking up some LHG today, but caution prevailed . Better wait and see which way it heads next week first.

Cheers,
GP

 

[wayneL]

Think we could have seen the last shake out.

Have reached the Elliot wave analysts 4800 area.
Wouldnt expect a "V" bottom.

Strong buying confidence going it W/E.
Should see this continue in Off shore markets O/N.

One thing I have come to rely on trading the US is that at some stage, the US Cavalry WILL show up. The PPT is real, and they are active.

They turned up last night and all the numpties climb aboard and go long when they do (including your truly )

This is why I don't believe a "crash" will ever happen, (unless "they" run out of money... but "they" control the printing press ) but rather, favour a '70's style bear sooner or later. (I'll be right someday Dammit!!!)

I've had some bear fun for a few weeks, but agree with Tech, further upside tonight and further into the short term. FWIW

Medium term, I think basically range bound, BWTFDIK, just a guess for the fun of it.

Cheers

 

[nizar]

I hope not, i want the correction to move further down if possible because one it bounces back and the bulls take over its gonna be another long run.

And BHP imo will hit the $33 mark in 6 months (if not much sooner).

dont be such a bear ageo

BHP will be in the mid-30s WAY BEFORE THAT, probably when they release results in late August

every 1c in copper movement is $30million to their bottom line
totally unhedged
last year average was $1.85usd/lb... this year more than $2.85usd/lb the average... their results will suprise even the most bullish of analysts...

 

[nizar]

One thing I have come to rely on trading the US is that at some stage, the US Cavalry WILL show up. The PPT is real, and they are active.

They turned up last night and all the numpties climb aboard and go long when they do (including your truly )

This is why I don't believe a "crash" will ever happen, (unless "they" run out of money... but "they" control the printing press ) but rather, favour a '70's style bear sooner or later. (I'll be right someday Dammit!!!)

I've had some bear fun for a few weeks, but agree with Tech, further upside tonight and further into the short term. FWIW

Medium term, I think basically range bound, BWTFDIK, just a guess for the fun of it.

Cheers

helicopter ben opening up his mouth again to give some speech in the US overnite

even if he doesnt speak markets will go down LOL

 

[bullmarket]

my crystall ball, tea leaves, rabbit foot and gut seem to think the Dow Jones will be down tonight.

cheers

bullmarket

 

[justjohn]

Interesting day - market up a fair bit but still heavily down in resources (at least the ones I keep an eye on).

A few of the stocks I watch for investment are back around their longer-term trend lines now, so will be keen to see what the market does next week. Was toying with picking up some LHG today, but caution prevailed . Better wait and see which way it heads next week first.

Cheers,
GP

GP :iagree: I was looking at LHG and very tempted at low$2.60s also OXR at $2.54-55 but not to confident at present with market to buy, rather hold and watch what unfolds in the coming weeks

 

[wayneL]

It must be time for another cartoon

 

[The Mint Man]

I was looking at LHG and very tempted at low$2.60s

yeh I was watching them today when they were around 7.5% or so down... $2.60 is a long way from a couple of months ago when ther were at a high of $3.65
once this correction is over it will be interesting, possibly a good buy there.

 

[professor_frink]

nice one wayne!

Disclaimer- the following picture is in no way factual. Mr Bernanke doesn't literally cause train wrecks. Only financial ones

 

[wayneL]

nice one wayne!

Disclaimer- the following picture is in no way factual. Mr Bernanke doesn't literally cause train wrecks. Only financial ones

WOW Professor! Not withstanding the obvious accuracy of the equation contained therein, what an amazing photograph!

 

[professor_frink]

yeah it's an interesting one! no idea where it came from. And I only say interesting because it looks like a freight train- hopefully there was no one inside that.

 

[Jay-684]

You are 21. How did you get $97K to invest?

I wish I had that much money at 21. Actually I wish I had that now.

Been investing since I was 15-16. ALso inherited 400 WMC shares ($2 at the time I think, so only $400) when I was born, but besides that most of it has come through DRP's and the continuing growth in the companies I have been lucky enough to choose to invest in.

Funny thing is over the last 3 years any idiot could have made money (including me)

 

[Ageo]

dont be such a bear ageo

BHP will be in the mid-30s WAY BEFORE THAT, probably when they release results in late August

every 1c in copper movement is $30million to their bottom line
totally unhedged
last year average was $1.85usd/lb... this year more than $2.85usd/lb the average... their results will suprise even the most bullish of analysts...

Nizar whos calling me a bear. Lets put it this way, if your right then i will shout you a beer! because i will be 1 happy man. I was saying 6 months to be ultra conservative.

 

[MichaelD]

My system doesn't care which way the market is facing, but the signs are all there;

1. The whole world is running around saying the sky is falling and the end of the world is nigh.
2. Fear and pain are the dominant emotions.
3. The ASX closed strongly up in the last hour despite the Monday public holiday - the smart money is betting LONG.

Conclusion: The bear party is over. The last of the fear is selling to the smart money.

 

[GreatPig]

Well Daryl Guppy still seems very bearish in tonight's newsletter, with comments like "a new downtrend is developing" and "the bear remains strong".

He only sees weak support at 4800 (for the XJO).

Cheers,
GP

 

[wayneL]

My system doesn't care which way the market is facing, but the signs are all there;

1. The whole world is running around saying the sky is falling and the end of the world is nigh.
2. Fear and pain are the dominant emotions.
3. The ASX closed strongly up in the last hour despite the Monday public holiday - the smart money is betting LONG.

Conclusion: The bear party is over. The last of the fear is selling to the smart money.

That could be true, and certainly somebody is punting long in a big way. But it may or may not be smart money. It could be freshly printed money, who knows?

But as far as taking a contrarian, this is the bottom, everybody is panicing, this is a capitulation bottom, view... I think it's way too early.

This particular bear is only a baby... a teddy bear. If that was the bottom, then this bear was hardly serious, just a rehearsal.

My $0.02 only. FWIW BWTFDIK

 

[MichaelD]

who knows?

Precisely. That's the joy of prediction. You can be wrong 50% of the time and people will only remember the other 50%. It's even more fortunate that you can be wrong 50% of the time and still be profitable.

Still, I can see how bears can have much more fun more quickly.

 

[MichaelD]

Just as an addendum to my previous comment;

I think the bears are now getting greedy, hence my contrarian view. Perhaps the closing ASX surge was all the smart bears closing their short positions for the long weekend. I note the FTSE is rebounding strongly, which I didn't know before my last post.

(and to cover my bases...indeed perhaps it could be another dead cat bounce on the way down to further doom.)

Oh well, I'm long with wide stops.

 

[wayneL]

Just as an addendum to my previous comment;

I think the bears are now getting greedy, hence my contrarian view. Perhaps the closing ASX surge was all the smart bears closing their short positions for the long weekend. I note the FTSE is rebounding strongly, which I didn't know before my last post.

(and to cover my bases...indeed perhaps it could be another dead cat bounce on the way down to further doom.)

Oh well, I'm long with wide stops.

Bears greedy? hahah We've had to feed at the bulls trogh for so long, how can you blame us!

But for the record, I am predominatly long ATM. Smart money, dumb money, or freshly printed PPT money, It's flowing into the market ATM. No point standing in front of freight trains, hey.