tech/a said: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.
tech/a said: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.
Ageo said: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).
wayneL said: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
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 weeksGreatPig said: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
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 $3.65I was looking at LHG and very tempted at low$2.60s
professor_frink said:nice one wayne!
Disclaimer- the following picture is in no way factual. Mr Bernanke doesn't literally cause train wrecks. Only financial ones
Realist said: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.
nizar said: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...
MichaelD said: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.
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.wayneL said:who knows?
MichaelD said: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.
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