The ASX should soar today - finally!!

[wayneL]

There is some seriously good "twoing and froing" on this thread, but the most important question is;..............why did you get rid of the 'Bear" wayne .........was he costing you too much to feed??..............(I miss the bear :bounce:

LOL, he's hiding in his cave conserving energy.

He WILL reappear

 

[wayneL]

Wrong!!

No-one could afford the petrol to drive out, it is $9.50 a litre afterall.

ROTFL

True

 

[GreatPig]

And what happens in october?

Hopefully I get some money back on the couple of short positions I'm holding

GP

 

[lesm]

LOL, he's hiding in his cave conserving energy.

He WILL reappear

Will he awaken :sleeping: in October?

Always an interesting month.

Who remembers '87?

 

[dr00]

Heres hoping for a crash, ive got some money to invest

 

[Smurf1976]

The bear has moved to a property forum...

I can confirm that is true. Plenty of bears on property forums, at least two of which are also on ASF (though the Smurf bear is specifically a property bear rather than a general purpose bear).

 

[3 veiws of a secret]

roll on october ,friday THE 13th! spooky :sleeping:

 

[YOUNG_TRADER]

US Dow new high!

:goodnight


Open: 11,670

High: 11,713

Low: 11,661

52wk High: 5/10/2006 11,709

52wk Low: 10/13/2005 10,098

Avg Volume: 228.25M

 

[wayneL]

US Dow new high!

Good!

Now we've got that out of the way, we can go ahead and tank. LOL

 

[scsl]

Good!

Now we've got that out of the way, we can go ahead and tank. LOL

Here's hoping we that we do!

I've gone short some NAB CFDs at about $36.30 as I'm anticipating falls in the Dow which should see some selling of the banks. I'm also long CML and even if the broader market falls, I don't see CML falling below $14. I got in at $14.23 and am banking on an offer above $15.50.

What to you think wayne? Do you see the Dow marching on (it's already up about 50 points as I type) or do you see some falls in the next few days?

Thanks,
scsl

 

[michael_selway]

Here's hoping we that we do!

I've gone short some NAB CFDs at about $36.30 as I'm anticipating falls in the Dow which should see some selling of the banks. I'm also long CML and even if the broader market falls, I don't see CML falling below $14. I got in at $14.23 and am banking on an offer above $15.50.

What to you think wayne? Do you see the Dow marching on (it's already up about 50 points as I type) or do you see some falls in the next few days?

Thanks,
scsl

The way i see it, ST to MT it will be up, before the crash, so atleast 12 months of up imo, DOW 11300, XAO 6000

thx

MS

 

[wayneL]

Yeah the US is firmly in Goldilocks mode.

This is a country that believes its own rhetoric in the face of all evidence to the contrary. They will prop it up till it pops big time.

<added>\/

No Shortage of Bubbles and Troubles

By Jim Jubak
MSN Money Markets Editor
9/27/2006 7:44 AM EDT
Click here for more stories by Jim Jubak

The stock and bond markets rallied after the Federal Reserve held short-term interest rates steady at its Sept. 20 meeting. Investors believe that the Fed has successfully steered the economy between too hot and too cold, and that we're headed for a just-right soft landing with inflation under control and the economy growing at a solid pace. The so-called "Goldilocks economy" will push both stock and bond prices higher.


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But I think it's premature to slap the Fed on the back and say "mission accomplished." The truth is the Federal Reserve still hasn't pricked the financial bubble that it created with nearly a decade of easy-money policies.

Oh, the housing market bubble may be deflating, with or without the abrupt pop that ended the stock market bubble of 2000. But the Fed hasn't succeeded in sopping up the flood of cheap money it created when it drove short-term interest rates down to 1% in June 2003 and kept them at that level until June 2004. Now all of that cheap money is pushing up borrowing in the commercial real estate market fast enough to worry bank and savings and loan regulators. And that isn't the only sector in the midst of a bubble.
Washing Away a Curse
It might be better to name this the "Lady Macbeth economy." Cast Fed Chairman Ben Bernanke as Shakespeare's bloody queen who cried, "Out, out damn spot," as she vainly tried to wash the blood of a murdered king from her hands. In this economic version of the tragedy, however, Bernanke wanders the darkened halls of the Fed muttering, "Out, out damn bubble," as he tries to wash away the financial curse left to him by his predecessor, Alan Greenspan.

Go to NEXT PAGE

 

[brerwallabi]

Yeah the US is firmly in Goldilocks mode.

This is a country that believes its own rhetoric in the face of all evidence to the contrary. They will prop it up till it pops big time.

<added>\/

Yes and when they could not sell the original green coke they changed it to black.
Many years left in the US and I previously did not think so.
I don't know if leopards can really change their spots.
But I do know that bears become bulls.

 

[wayneL]

But I do know that bears become bulls.

Of course! That is the whole point of being a bear!

Bears just want restoration of fair value... thats all!

errrr...well maybe just a bit less than fair value

 

[Realist]

Well BHP up 3%, RIO up 3.3%, and Rinker up 2%.

Maybe we are in for a proper commodities boom, the last rise was merely the calm before the storm!!

ASX should soar today as well!

 

[wayneL]

Well BHP up 3%, RIO up 3.3%, and Rinker up 2%.

Maybe we are in for a proper commodities boom, the last rise was merely the calm before the storm!!

ASX should soar today as well!

Gold, Silver, and Energies up smartly (the fear commodities)... Cu, Al not so much, so wouldn't get too carried away. Nevertheless BHP et al will benefit.

Been stepping into Gold and silver in small chunks via ETFs over the last few days, but plonked on oil futures tonight.... so I'm mingling with the commodity bulls atm... I wouldn't be surprised to see a convenient terrorist attack before the Evil Empire mid term elections.

 

[Realist]

It's looking good for another big rise on the ASX today... :

What are you doing up so late Wayne?

 

[wayneL]

It's looking good for another big rise on the ASX today... :

What are you doing up so late Wayne?

I trade futures in the Evil Empire... CME just closing in a few minutes.

SYCOM (overnight SPI) action FWIW \/

 

[nizar]

The way i see it, ST to MT it will be up, before the crash, so atleast 12 months of up imo, DOW 11300, XAO 6000

thx

MS

The way i see it, DOW will see 12,000+ by the end of the year. Its due for a good rally, last year it underformed other global equity markets big time, pretty much ending flat from where it started.

Once the DOW closes above 11,722 which will be an all-time high, TA says it willl rally into blue skies.

As for XJO/XAO, we really like higher oil prices. Our correlation to the US markets is rather poor.
Last year DOW ~0%, XAO ~17%.

This year they have outperformed us

 

[GreatPig]

Things are a bit better for me so far today, with most longs being up (none are actually down) and one of my shorts being down (the underlying that is).

The other short is up a bit, but not strongly and slipping as I watch. I'll keep a close eye on that one though.

GP