XAO Banter Thread

[nulla nulla]

After the initial panic the market bounced. Mind you the chart looks a bit sick. DYOR (and good luck).



Maybe viagra would help?

 

[Garpal Gumnut]

I'm concerned about that too.

Given where we got to today and rebounding pretty strongly, I would be happy to call a bottom. But when comparing to the DJIA, I'm very worried.

If you think that is the bottom mate, good on you, I've seen better bottoms in Kings Cross at 7am.

After the initial panic the market bounced. Mind you the chart looks a bit sick. DYOR (and good luck).






View attachment 41866

Maybe viagra would help?

Understatement of the year nn

This is going to bring us back to 3500

gg

 

[whitefang]

This is going to bring us back to 3500

gg

Well, possible, but improbable, as it will imply a double-dip...no real signs here...so far.
I would rather go with a re-test of the Jun-Jul '10 lows, if SPX follow us down with a 8-10% correction

 

[nunthewiser]

After the initial panic the market bounced. Mind you the chart looks a bit sick. DYOR (and good luck).

View attachment 41866

Maybe viagra would help?

theres a bounce due here m8........personally think not much of one tho

a stop around the tails will provide a nice low % risk entry on SOME.....

 

[Garpal Gumnut]

Well, possible, but improbable, as it will imply a double-dip...no real signs here...so far.
I would rather go with a re-test of the Jun-Jul '10 lows, if SPX follow us down with a 8-10% correction

Possible mate, possible, but in reality, and I'm not a funnymentalist, things are pretty crook.

And the charts imho point to a return to a long term trend line, see my post on xao analysis.

gg

 

[nunthewiser]

theres a bounce due here m8........personally think not much of one tho

a stop around the tails will provide a nice low % risk entry on SOME.....

Sorry about that Nulla..

shorts still running and doing well but near on instant stopouts on quickie longs took part of the shine from them.

how you guys doing?

 

[Gringotts Bank]

I have 4664 as the day's high, which is about now.

Don't start buying now. And if you did buy at open, well done, good time to sell.

IMO.

 

[skyQuake]

I have 4664 as the day's high, which is about now.

Don't start buying now. And if you did buy at open, well done, good time to sell.

IMO.

We've fallen 400pts in almost a fairly short period. The initial bounce got crushed by the japan quake, and everyone that went long prob got washed out yesterday.
Long bias should be good for the rest of the week imo.

 

[Gringotts Bank]

I mean for those trading intra-day.

I can't get any feel at all for the rest of the week, but your argument sounds good.

 

[Gringotts Bank]

Looks like it might finish strongly. That inverse head an shoulders (just completed) has 4675 as a target for close, but would need to run pretty hard in the last 30 mins. If it gets close I'll grab some of the strongest running u-stcoks for tomorrow.

 

[Logique]

The jury is out, it's not just about how Japan recovers.

There's Europe too. And Mr Bernanke in the US, running the printing press. And oh yes, little old Australia with a Greens Senate balance of power after July, threatening this bizarre and crippling carbon tax.

So...I think 4350. But don't discount the double-top retracement target of 4000.

 

[nulla nulla]

Sorry about that Nulla..

shorts still running and doing well but near on instant stopouts on quickie longs took part of the shine from them.

how you guys doing?

two quick in and outs on woolworths and gpt for pizza and two cartons of beer, missed todays entry on cpa at $0.815 but will watch cpa and map for dip/entry points for trade on a few cents gain. Other wise wary of the market retracing further (possibly much further).

 

[grace]

Okay, I am guilty of buying the falling knife perhaps. I did some buying yesterday and today. Looking for a small bounce and will offload. Didn't touch uranium explorers or miners. I think sentiment will be down for a long time there. Just my

Overall though still not heavily invested in the market. Still plenty of bad fundamentals floating around the world.

 

[Julia]

Still plenty of bad fundamentals floating around the world.

Exactly. There is too much papering over of the cracks which will not work in the longer term. The foundations are not solid.

 

[Garpal Gumnut]

Exactly. There is too much papering over of the cracks which will not work in the longer term. The foundations are not solid.

Agree Julia, have a look at my long term chart on the asx analysis thread, I'll be buying from 3600 down, it may go as low as 3200, but I'll be fully invested in the asx at that stage.

gg

 

[Gringotts Bank]

I reckon we might only reach 4770 today. I'm going to sell then anyway.

 

[Boggo]

Just a bit of a follow up to these three posts...
https://www.aussiestockforums.com/forums/showthread.php?t=17461&p=610417&viewfull=1#post610417
and
https://www.aussiestockforums.com/forums/showthread.php?t=17461&p=614162&viewfull=1#post614162
and
https://www.aussiestockforums.com/forums/showthread.php?t=17461&p=618105&viewfull=1#post618105

XAO has followed the IGO pattern and seems to have caught up.

Next step is $5.45 for IGO and sub 4500 for the XAO ??
Just my again.

IGO and 2 x XAO charts below. (click to expand)

 

[Logique]

The jury is out, it's not just about how Japan recovers.

There's Europe too. And Mr Bernanke in the US, running the printing press. And oh yes, little old Australia with a Greens Senate balance of power after July, threatening this bizarre and crippling carbon tax.

So...I think 4350. But don't discount the double-top retracement target of 4000.

Time to 'fess up. To this point in time, I got this wrong.

Markets have shown more resilience than I thought post-earthquake/tsunami/nuclear plants, and are recovering by the day. The $AUD/$USD is above 1.02 this morning.

 

[Gringotts Bank]

I'm finding XAO a bit hard to read the last few days. My gut feel says -25 Monday. NRL just got sold into pretty heavily at close. <<(edited). Don't think it will run far on Monday.

 

[sammy84]

I'm finding XAO a bit hard to read the last few days. My gut feel says -25 Monday. NRL just got sold into pretty heavily at close. <<(edited). Don't think it will run far on Monday.

I'm in the same boat as you. The US has been very resiliant which is muking up a lot of my analysis. Currently have 1 long and 1 short on individual stocks. Am not planning on adding any positions until thingsbecome clearer.