FWIW - Looking through the ASX300 I managed to come up with a list of 17 stocks. The notable bit not being the total so much as that 12 of the 17 are mid caps $1 billion - $5 billion. Hmm....There were only a few with a bullish setup to buy now, but I'm reluctant to do so as the XAO is trading in a narrow range.
?Iron Ore under the 50 DMA today after hitting resistance at 200DMA for a month , not a good sign for a bullish XJO medium term
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It is a fairly typical occurence on ASX along with what is historically the weakest week of year in US after Sept Triple witching Opex , With any luck ducks be lining up last week Sept . Already working at a potential buy list , If we get a deep enough downturn i will buy a leveraged NDX etf as a core holding along with a few StocksThat's what I'd really like to see, a Sept selloff lasting about three weeks with a panic ending. A market reset with lower prices. I'd like this very much.
Well sadly, the minnow ASX is just a follow the leader and not a price setter.Pleased to get through another volatile reporting season. I didn't get through unscathed though. Was caught in a few selloffs early and became conservative (selling half) going into later scheduled news events. Both of them (CDA, PME) reported good news and I only earned half in the resulting price spikes. That's life.
I'm not enthused by the ASX market at the moment. It's looking very thin of acceptable R:R opportunities. Basically there's only a dozen large cap stocks going up while the resource stocks are being thumped lower. Can CBA, WTC and PME go higher? They probably will but the R:R doesn't look very promising. Can the resource stocks go lower? They probably will until China sorts through it's problems.
There's the usual cohort of small to mid cap companies that are trending higher but their market depth is very thin and any bids can disappear very quickly in a market selloff.
That's what I'd really like to see, a Sept selloff lasting about three weeks with a panic ending. A market reset with lower prices. I'd like this very much.
Most of my trading activity is now done on the US markets. So many opportunities and news events every three months. Beautiful.
Our ASX is anaemic compared to the robust US market.
despite the predicted ( hoped for ) rate cut ??Iron Ore approaching 12 month lows tonight , Copper down near 4% , Energy same , Aus200 futs close to 100 down atm . US down 1% plus . Looks a little ominous atm . Bounce into close would save it but much more downside from here gets into 2 week lows and stop runs . I think we starting a 3 week correction here myself
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someone playing 'hot potato ' with them , a 2%-3% gain , might be a healthy win for them ( especially if made in less than a week )
well if you are using leverage ( a margin loan or such )Lots of hot potatoes being tossed around, divs.
Nikkei 225 | 37,027.50 | 37,575.00 | 36,881.50 | -1,701.00 | -4.39% |
Noticed all my orders this morning left on overnight were wiped out at nabtrade this morning....were they taking preemptive measures I wondered? Never came across that unless they've expired.well if you are using leverage ( a margin loan or such )
there is the quick and the margin called
a nervous lender may warn/call sooner rather than later
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