XAO Banter Thread

[Toyota Lexcen]

At an interesting point for the market, commodities rallied well over past 12mths,

Banks climbing a bit with the RC over for banks, APRA says no more action, property down down down

Maybe stocks going to have a run up to 6600-6800, funds are believing the economy is going take off

 

[greggles]

XAO still looking bullish. Double top at 6,390 or break above 6,400? Interesting times.

 

[CanOz]

Spike and channel with 3 drives to the high.....getting too long

 

[notting]

It's time people

 

[greggles]

XAO pulling back from its high of 6,481 over the last week or so. Currently at 6,236. Where will it find support?

 

[kid hustlr]

I would think Long SPI 6100 for a bounce is pretty damn tempting here.

 

[CanOz]

Nice call, hope you got on it!

 

[greggles]

I would think Long SPI 6100 for a bounce is pretty damn tempting here.

 

[kid hustlr]

Nice call, hope you got on it!

- Not my game to trade that - just happened to see it there and figured it looked OK
- Think I would have been stopped out at B/E anyway as it took a long time to go

 

[peter2]

Nice, classic reversal near the low of day. Both initial intra-day targets hit.
Friday evening drinks courtesy of the kid.

Note: No I didn't trade it. It's a great pattern.

 

[kid hustlr]

Nice, classic reversal near the low of day. Both initial intra-day targets hit.
Friday evening drinks courtesy of the kid.
View attachment 89210
Note: No I didn't trade it. It's a great pattern.

The spike new low that reversed was the entry I was initially talking about. No drinks tonight I'll need to explain to the wife that Awesome August is long gone!

 

[MrChow]

While the Yield Curve is still positive the percentage play is to stay invested.

But the setup for the 2020s is ugly based on historical valuation metrics. I would personally accept a -40% hit to stocks (would only be a 700 point XAO drop from 2016 low) as a good result as there is downside for worse if banks get in trouble.

 

[Toyota Lexcen]

back at just over 6000. country that cant move on

by all accounts business conditions are improving,

 

[Logique]

Be careful.

Markets U.S. & Canada By: Shawn Langlois
The [US] stock market faces ‘unlimited downside risk,’ warns veteran trader
Published: Oct 23, 2018
https://www.marketwatch.com/story/t...downside-risk-warns-veteran-trader-2018-10-23
..“There is unlimited downside risk in the market right now and I don’t think it’s being respected,” he wrote. “It’s not until afterwards that they ask, ‘what happened?’”..

 

[notting]

Kind of agree, buying this open

 

[Toyota Lexcen]

Doesn't go up with global exchanges but heads down easy as

Very poor performance for shares over past 10-11yrs. Back under 6000, still long way off high

 

[notting]

 

[MrChow]

Nothing scary on the horizon looks pretty safe for another 12 months, especially if Trump adds more stimulus through individual tax cuts.

 

[notting]

Yeah unless the market is wising up to the fact that the 4% GDP growth did not even dent the tax income losses for government and debt is going through the roof, in fact it the deficit expanded by 9%. More tax cuts will have them heading for bankruptcy.

This is like an indebted person who's low wage cannot cover his living expenses as it is, who convinced a predatory bank exec to give him a $100,000 credit card which he is now using on a round the world trip, living it up and thinking he's rich cause he's having a great time!

 

[Toyota Lexcen]

be interesting to see the predictions for the XAO from posters, month and half to go in 2018

sure the xao will climb a bit, very average time for investors with the big whinge thats happening in the community