XAO Banter Thread

clayton4115 · 2 October 2009

ok, so here we can talk and freely express our opinions of the markets.

Ok my feeling is that it looks like we got a major correction on our hands, the FTSE is down 1% and the Dow is likely to open lower, most likely close lower as well.

We should see a correction down to 4550 initially maybe lower, but i think we could see a correction of 10 - 15%.

Bears may be back in town!

nunthewiser · 2 October 2009

your a champ

good thread , lets hope we can use it for good instead of evil

will add to it when sober

ajjack · 2 October 2009

You could be right, but just because its October dont mean
a correction is automatic.

How do you figure the AO at 4550?

Riddick · 2 October 2009

any one else watching history channel at the moment. they are showing the Bernie Madoff bio. the guy was a complete A-Hole!

I wonder what the penalty would be in the Australian legal system for a guy that all out stole 65 billion.

kind of makes you not want to trust anyone with your $$$

Julia · 2 October 2009

Riddick said:
kind of makes you not want to trust anyone with your $$$

I'd never trust anyone with my money anyway, regardless of Madoff's antics.

cutz · 2 October 2009

At long last, a bit of good old fashion volatility returning to the markets, lets hope it's lasts unlike the other false start, anyway how does 4200 sound.

satanoperca · 2 October 2009

Don't think we will see a retracement just yet, those green shoots have not had enough weed killer yet, but the debt is growing daily.

If there is and I do not have a crystal ball I see support around 4350 - 38% retracement and where there was a small amount of consolidation.

I sure if we all chant together for a retracement it might come true.

Either way I can only trade what is in front of me at the time.

Nun, the truth always come to the surface after alcohol. Give us your wisdom.

cutz · 2 October 2009

nunthewiser said:
will add to it when sober

Don't wait till you're sober, i take it the banter thread is a free for all.

nunthewiser · 2 October 2009

cutz said:
Don't wait till you're sober, i take it the banter thread is a free for all.

lol .yeah and no i reckon

i think chris has made this thread to actually talk shop but without the constraint of the normal rules in another thread

all things affect the xao/xjo .theres a lot of components , so its good to have a spot to discuss them components without getting pinged for it ( no offense to the moderators). rules are rules after all

it would be nice to get reasons for calls or charts or any other thoughts to do with the perceived directions ppl post .

just nice to have a thread where they may be a lot more leeway may be allowed when a discussion takes off on its own direction as they so often do on this forum

beerwm · 2 October 2009

I'd think we'd need some bad news to really push 10%-15% correction,

given a 10-15% correction would be a bigger move than a 10-15% correction a couple of months ago.

seems mostly like a breather/taking profits, given that the news wasnt all that bad last night considering the 3% fall.

Riddick · 2 October 2009

Julia said:
I'd never trust anyone with my money anyway, regardless of Madoff's antics.

i'm referring to my parents... shady, real shady.

and of course i never trust anybody with anything, especially my money. maybe thats whay I live alone on a farm in the middle of nowhere....

Joe Blow · 2 October 2009

clayton4115 said:
ok, so here we can talk and freely express our opinions of the markets.

If this thread is just going to be people making unsupported assertions and chatting at random about things unrelated to the thread topic then you might as well take it to the live chat room because that's where this sort of chatter belongs.

Julia · 2 October 2009

Joe, the thread title is XAO Banter thread.
Doesn't it serve the purpose of allowing a little light hearted comment stuck away on its own which can be easily avoided by those wanting only the serious commentary on the XAO in other threads?

If Solly can have a frivolous general chat thread, I can't quite see why this one doesn't fulfil a similar purpose.

I don't mean to be argumentative or difficult, but am just a bit puzzled on this.

Dark1975 · 2 October 2009

Has anyone thought to make a DOW/XAO Thread as they serve hand in hand. The dow is a good indicator on where the xao is heading,People will argue we don't follow the dow,and we have decoupled from it,But ive traded for the past 6 years now and used the dow as a good guide on where we are heading.Hmm as the dow currently a 132 points down in the futures.Points to a change in momentum and the xao will follow,question is will 4525 hold up on the xao when trading resumes.

Joe Blow · 2 October 2009

Julia said:
Joe, the thread title is XAO Banter thread.
Doesn't it serve the purpose of allowing a little light hearted comment stuck away on its own which can be easily avoided by those wanting only the serious commentary on the XAO in other threads?

If Solly can have a frivolous general chat thread, I can't quite see why this one doesn't fulfil a similar purpose.

I don't mean to be argumentative or difficult, but am just a bit puzzled on this.

Julia,

I guess what I was saying is that I think the chat room is more suited to random "banter". That's its purpose after all.

That said I will let it run and hope for the best.

satanoperca · 2 October 2009

Agreed

nunthewiser · 2 October 2009

thinks monday will be an intresting sort of day as it is being a public holiday in various parts of oz ...... will it be a little less volume out there? one would thinkso

Dark1975 · 2 October 2009

nunthewiser said:
thinks monday will be an intresting sort of day as it is being a public holiday in various parts of oz ...... will it be a little less volume out there? one would thinkso

haha it will affect me here in n.s.w,as ill be still sobering up after the eels win the grand final gogo the banter..and eveyone in n.s.w will be on holidays after the eels win as the biggest underdogs..it will be moved as a national holiday.hmmm maybe not alot of mexicans south of the border vic)follow another game that has boys in tight shorts.
But back to your question low volume as far as n.s.w is concerned.

jono1887 · 2 October 2009

cutz said:
At long last, a bit of good old fashion volatility returning to the markets, lets hope it's lasts unlike the other false start, anyway how does 4200 sound.

I'm hoping more for a 4k..

nunthewiser · 3 October 2009

personally think it will take a lot more than bad jobless numbers to set this correction snowball into motion a proper yet.......

people out there still trying to buy the weakness

im finding it hard to read anything more than short term currently tho

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