XAO Banter Thread

[InsvestoBoy]

Anyway, the XJO rally since late Jun was largely confirmed by participants willingly upping their AUI bids in the order book, but I can see today that it's died off, similar to the behavior between mid May and early June when XJO attempted a rally and AUI bids were not lifted in the book.

???

 

[InsvestoBoy]

I can't remember where you said it @peter2 so I am just going to put it here.

On 14th June gap down day after the Friday/Monday US market massacre, you said something like "might be interesting to buy some stocks which close well above their open".

I happened to be topping up my WES stake on the open that day as the downmove had put me moderately underweight equities and noticed it did indeed close well off the lows and above the open, making me feel significantly smarter than my previous WES purchase at ~$55 in Dec.



Interesting to note how well WES has held up relative to say, ASX which formed a similar pattern on that day but has retraced a lot more in the recent selloff



CSL has held up


as has, e.g. TLS, BXB

whereas COL hasn't

 

[InsvestoBoy]

????

 

[peter2]

That's surprising. The current sentiment doesn't seem as bad as what we experienced through the Covid selloff (early 2020). There's room to get worse though and I'm prepared in case it does.

 

[Smurf1976]

The current sentiment doesn't seem as bad as what we experienced through the Covid selloff (early 2020).

Just my reading of the masses but it seems nowhere even remotely as bad.

2020 was basically a mass panic about entering uncharted territory. Entire industries ceased to exist almost literally overnight with nobody sure what the future held. The market was seeing major falls day after day.

2022 hasn’t even caught the attention of mainstream media outside the financial pages.

 

[Garpal Gumnut]

That's surprising. The current sentiment doesn't seem as bad as what we experienced through the Covid selloff (early 2020). There's room to get worse though and I'm prepared in case it does.

Just my reading of the masses but it seems nowhere even remotely as bad.

2020 was basically a mass panic about entering uncharted territory. Entire industries ceased to exist almost literally overnight with nobody sure what the future held. The market was seeing major falls day after day.

2022 hasn’t even caught the attention of mainstream media outside the financial pages.

I'm going to make a rather large call here, on "the vibe".

• Interest rates in Australia will not rise much more, probably 2-4 x 0.25% over the next 12 mo.
• The Housing Market will fall a little 5-10% and then stabilise.
• The XAO will be bumpy until November, no large falls, but then take off and be 20-40% higher his time next year.

Just on my sense of what is happening worldwide and in Australia, The Lucky Country.

gg

 

[peter2]

Underlying bullishness in the ASX seems to be the consensus here amongst the market watchers but we have to wait for a better R:R opportunity. It'll come.

 

[InsvestoBoy]

Anyway, the XJO rally since late Jun was largely confirmed by participants willingly upping their AUI bids in the order book, but I can see today that it's died off, similar to the behavior between mid May and early June when XJO attempted a rally and AUI bids were not lifted in the book.

It's quite funny on a personal basis to watch my FOMO levels rising when the XJO is pumping hard and AUI is just chilling with no real bids in the book and the bids not moving up at all.

Then you wake up to notice the SPI futures overnight have caught down the entire pump in one go, which is why I posted this in the first place.

Whatever entities like to bid on AUI seem to have a much better/leading view on the market, at least since I have been holding it.

 

[KevinBB]

It's quite funny on a personal basis to watch my FOMO levels rising when the XJO is pumping hard

Its a very good sell signal. GOAAC
KH

 

[monkton]

It's quite funny on a personal basis to watch my FOMO levels rising when the XJO is pumping hard and AUI is just chilling with no real bids in the book and the bids not moving up at all.

Then you wake up to notice the SPI futures overnight have caught down the entire pump in one go, which is why I posted this in the first place.

Whatever entities like to bid on AUI seem to have a much better/leading view on the market, at least since I have been holding it.

Guess those 'entities' are comfortably sitting on their dividends paid last Friday & gathering the pennies for the SPP, keeping their stress levels low.

 

[peter2]

Up >1% one day, down >1% the next. High volatility seems the current norm. The down bars are bigger than the up ones and the market looks likely to test the June22 low.

There's been lots of dips to buy, only to be disappointed when there's another one. I've weaned myself from the temptation to buy falling prices in "good" companies. A company may have a promising outlook but falling stock prices doesn't help my P&L.

Our market is trading in a range outlined by the April22 high and June22 low. If the market doesn't make a new low I wonder how long it's going to stay in this range? There are lots of problems to resolve and it may take a year or two. I think we have to be patient.

I'll nibble in the weekly dips but not the daily dips. I prefer to avoid looking at intra-day charts on the ASX. It's too much work for little reward.

 

[InsvestoBoy]

View attachment 146472

????

The last NYMO puke was oversold enough to cause a nice little rally.

I just noticed this about 15 mins before the NYSE open...futures pretty weak pre-open but if we get some strength during NYSE this divergence will be maintained...




...but it's probably puke time.

 

[Garpal Gumnut]

I've started doing Lotto again.

gg

 

[divs4ever]

I've started doing Lotto again.

gg

awesome !

those nice folks at TAH loaded me up with some TLC

but that could be a symptom of what is to come

 

[InsvestoBoy]

The last NYMO puke was oversold enough to cause a nice little rally.

I just noticed this about 15 mins before the NYSE open...futures pretty weak pre-open but if we get some strength during NYSE this divergence will be maintained...

View attachment 147167


...but it's probably puke time.

?

 

[InsvestoBoy]

What a dispersion day!

All the long duration growth assets bid hard and short duration cyclicals chopped.

CSL, XRO, RMD, COH, WES ..... lol even ATEC which has so much junk in it was up.

I think someone had a big long cyclical/short growth spread on and was rapidly exiting today.

 

[peter2]

Noticed lots of medical stocks in recent bullish scan results.

RMD making new highs, PAR, AVR, PNV, NEU spiking higher.
Others, rallying with the market, NAN, CSL, COH, MVF, VHT, SHL, HLS,

 

[divs4ever]

i was hoping HLS might slide some more ( so i could add extra cheaper )

maybe next week

 

[farmerge]

With most markets finishing in strong plus territory at the week's end of trading, will we be seeing the ASX being able to follow suit on Monday. Fire those booster rockets up !!!!!!

 

[Sean K]

With most markets finishing in strong plus territory at the week's end of trading, will we be seeing the ASX being able to follow suit on Monday. Fire those booster rockets up !!!!!!

I think there’s an XAO banter thread for this.