Australian (ASX) Stock Market Forum

The Bull shall Return

Jump to new
YOUNG_TRADER said:
Oil still under $60 and the records continue to tumble

FTSE is less than 15 points (0.1%) away from its may highs thats a whisker!

DOW up nearly another 1% to another record high

Even the Latin American mkts are closing at record highs,


Once the FTSE passes May high, the Aussie mkt will well and truly be lagging the global trend
Click to expand...

Also, the DAX and French CAC 40 passed May highs yesterday.
 
Wow just look at those Base metal price gains, tomorrow should be a good day ;)

change since 19:00 London Time
Price: US$/lb


Copper October 16,10:16
Bid/Ask 3.5048 - 3.5111
Change +0.1034 +3.04%
Low/High 3.3673 - 3.5224
Charts

Nickel October 16,10:15
Bid/Ask 15.4524 - 15.5431
Change +0.3629 +2.40%
Low/High 14.8174 - 15.5431
Charts

Aluminum October 16,10:18
Bid/Ask 1.2209 - 1.2232
Change +0.0213 +1.78%
Low/High 1.1946 - 1.2232
Charts

Zinc October 16,10:06
Bid/Ask 1.7934 - 1.7956
Change +0.0829 +4.84%
Low/High 1.7105 - 1.7979
Charts

Lead October 16,10:04
Bid/Ask 0.7187 - 0.7219
Change +0.0141 +2.00%
Low/High 0.6992 - 0.7264
 
Zinc is the metal to be holding right now.
Last time the price was at us$1.80/lb - LME stocks was at 250ktonnes, now the is 125ktonnes yet the price is still us$1.80/lb....

Well IMO there will be a serious catch up so the price can better reflect the underlying supply-demand fundamentals of zinc metal.
 
Looks like Mr B is back, no not Mr Bear, the other Mr B, Mr Bull!

I think he's brought a few friends to the party as well,

Only 2 trading days of 'dreaded October' to go, before its on to amazing November and December,

Its funny people are now talking about possibility of correction again but we've just now regained May grounds and guess what Resources aren't responsible for reclaiming XAO and XJO highs, XMJ and XEJ are well off their highs which tells me that mkt has a way to go yet, when XMJ and XEJ get close to their previous highs thats when its time to become cautious IMO
 
YOUNG_TRADER said:
Looks like Mr B is back, no not Mr Bear, the other Mr B, Mr Bull!

I think he's brought a few friends to the party as well,

Only 2 trading days of 'dreaded October' to go, before its on to amazing November and December,

Its funny people are now talking about possibility of correction again but we've just now regained May grounds and guess what Resources aren't responsible for reclaiming XAO and XJO highs, XMJ and XEJ are well off their highs which tells me that mkt has a way to go yet, when XMJ and XEJ get close to their previous highs thats when its time to become cautious IMO
Click to expand...

agree yt
we've been waiting for the bull to return for ages, but it has been worth the wait :D

this push upwards by XOA/XJO mainly due to industrials. Oil and gold are significantly lower than they were around the May highs.

id be careful about the november 7 elections, alot of people seem to think thats where this fairytale, at least for the DOW, will end... though their performance has been coming off the back of some very impressive quarterlies eg. wallmart, exxon, so hmmm... hard to say... but be cautious...
 
nizar said:
id be careful about the november 7 elections, alot of people seem to think thats where this fairytale, at least for the DOW, will end... though their performance has been coming off the back of some very impressive quarterlies eg. wallmart, exxon, so hmmm... hard to say... but be cautious...
Click to expand...

I am, its been a conspiracy theory which I agree with that the powers that B, are manipulating Oil lower, Gold lower, the USD up and the Dow up,

Will watch cautiously
 
XJO up but commods down slightly across the board. Zinc might actually have a break for a day!

U phoria will probably continue, until the pro traders have a reason to dump. Will probably be a crappy reason, or just a little downward momentum that will snowball.
 
I thought you were a pro-trader kennas.....I follow your posts with enthusiasm ...good stuff, but it's copper falling me thinks.
Yup it needs a break on the zinc....but it appears to be a bull that is killing the bear ATM....still holding and buying....zinc up again and hitting the 100.000 mark
enjoy!....:)
 
pacer said:
I thought you were a pro-trader kennas.....I follow your posts ...good stuff
Yup it needs a break on the zinc....but it appears to be a bull that is killing the bear ATM....still holding and buying....enjoy!....:)
Click to expand...

he he. This is all I do but I couldn't possibly call myself a 'pro'. Maybe in another 20 years! :)

Will be interesting to see the interest in the interest rate decision today, and how the market takes it. A rise is factored in, but the comments on status of the economy and future rises will be key. Any more rises in the foreseable future will hammer Vic and NSW, but might be needed to curb growth elsewhere. This two paced economy could be our undoing.
 
I think the latest run in shares will come to an end on Monday, with a pullback in the market overdue. I'm guessing that it might last about 2-4 weeks max, before the majors such as BHP and RIO take the main two indexes to newer highs.

Copper, aluminium and zinc are all currently more than 3% down and I think this will see the recent gains (some ridiculous even) in shares taken away. This might not happen on Monday, but I look forward to when it does, so I can load up on stocks like BHP, KZL, ZFX, OXR just to name a few.
 
scsl said:
I think the latest run in shares will come to an end on Monday, with a pullback in the market overdue. I'm guessing that it might last about 2-4 weeks max, before the majors such as BHP and RIO take the main two indexes to newer highs.

Copper, aluminium and zinc are all currently more than 3% down and I think this will see the recent gains (some ridiculous even) in shares taken away. This might not happen on Monday, but I look forward to when it does, so I can load up on stocks like BHP, KZL, ZFX, OXR just to name a few.
Click to expand...

Monday looks like a killer especially for the minnows. How quickly things change. It was just a couple of days ago that we were almost out of zinc. That hasn't changed has it? Then why the price decline?
 
scsl said:
I think the latest run in shares will come to an end on Monday, with a pullback in the market overdue. I'm guessing that it might last about 2-4 weeks max, before the majors such as BHP and RIO take the main two indexes to newer highs.
Click to expand...

Have to agree we are due for a decline. Don't know if will happen monday though, but to my mind the market is looking fully priced. I've really struggled to find companies in the top 300 with good value in the last month. Mind you i don't follow commodities so can't really say how their current status will affect the market.
 
kennas said:
Monday looks like a killer especially for the minnows. How quickly things change. It was just a couple of days ago that we were almost out of zinc. That hasn't changed has it? Then why the price decline?
Click to expand...


As $1.80 was previous resistance for Zinc, it will now form support, I was expecting a pull back in Zinc price to test $1.80 support before marching higher, as you say fundamentals are still there, as are the technicals



As for the whole mkt, I've been expecting a pullback as well, though I doubt it'll come monday, next week probably but not sure if it'll be monday, I expect XAO and XJO to pull back to May highs as support
 
billhill said:
Have to agree we are due for a decline. Don't know if will happen monday though, but to my mind the market is looking fully priced. I've really struggled to find companies in the top 300 with good value in the last month. Mind you i don't follow commodities so can't really say how their current status will affect the market.
Click to expand...

I'm 43% cash atm and sitting with tight stops on my other trades. Roll on decline i say.

Futher to a suspected pullback, it could be led by a decline in Uranium stocks too if there is any substance to the article in the AFR today on page 43.

Cheers,
 
I'll be looking at offloading most of my resource stocks apart from MCR on Monday morning, while I can still get a decent price.

And then buy back in when I think it's bottoming out.

:2twocents
 
Top