XAO Banter Thread

[Trembling Hand]

Glumness is bad for trading. Luckily there is coffee. Maybe I should look into coffee futures.

They will really make you glum,



Unless of course you are a consumer by the truck load

 

[skc]

A few reasons. Spec market is dead. I made a couple of $ on DLS and MAD today, and that's the first trades I've in about 10 days!! XAO upper boundary looks set in stone at 4200, so I'm thinking there's more downside to come.

Glumness is bad for trading. Luckily there is coffee. Maybe I should look into coffee futures.

I trust / hope you are not doing this on a full time basis?!

Frequenty of trade is the most important and direct factor for performance...

 

[Trembling Hand]

I trust / hope you are not doing this on a full time basis?!

Frequenty of trade is the most important and direct factor for performance...

I assume that GB has taken profit on these moves from yesterday because his saying he's made $ they are really crappy trades on an R:R basis.

 

[skc]

I assume that GB has taken profit on these moves from yesterday because his saying he's made $ they are really crappy trades on an R:R basis.

I was referring to the comment about first trades in the last 10 days... I'd consider that quite infrequent for a full timer, although that's probably the right course of action for someone who only trades long.

 

[drsmith]

What's caused it to suddenly take off ?

Has China made a takeover offer for Australia ?

 

[Gringotts Bank]

wtf????? +50?

Is this a fat finger moment? That came out of nowhere.

 

[Gringotts Bank]

Monday morning will gap up so long as we stay 60+ for the day.

So, I'll buy stocks at close, sell Mon open (or Mon close if DJI very strong overnight).

For an overnight gap I strong gain with pivot break high.

RMP, GBG, CCV

 

[prawn_86]

wtf????? +50?

Is this a fat finger moment? That came out of nowhere.

Euro leaders reach some sort of agreement as to bailout debt being non-preferential

 

[Vader]

http://www.smh.com.au/business/markets/local-stocks-leap-on-eu-deal-20120629-2162z.html

Australian shares have leapt higher after Eurozone leaders struck a deal opening the door to allowing its rescue funds to help bring down borrowing costs of nations in trouble and directly recapitalise banks, the EU president said.

...

CMC chief market strategist Michael McCarthy said the local market jumped on short-covering after the positive news from Europe. The sharp increase “seems like a potential overreaction,” he said.

"It’s interesting. When we saw the report from David Jones before the market opened, the spike in the consumer discretionary shares looked a lot like short covering, with the very sharp, quick moves,” he said.

“And I suspect that’s what we’ve just seen [in the broader market following the Europe news]. That’s not new investors jumping into market thinking I’ve got to buy on the back of it,” he said. “It’s investors with existing short positions shutting them down because it increases their risk."

Investors buy shares to hold on hand in the event a short-sold stock rises in value in a process called “short-coering.”

 

[CanOz]

http://www.smh.com.au/business/markets/local-stocks-leap-on-eu-deal-20120629-2162z.html


...

Pretty much sums up any impulsive intra-day move like that....shorts running for the exits :run: ...

It happened 3 or 4 times yesterday, both shorts and longs running.

CanOz

 

[skc]

Monday morning will gap up so long as we stay 60+ for the day.

So, I'll buy stocks at close, sell Mon open (or Mon close if DJI very strong overnight).

For an overnight gap I strong gain with pivot break high.

RMP, GBG, CCV

Can't help but think Europe will be a fizzer tonight... $100B is a drop in the ocean imho.

 

[CanOz]

Can't help but think Europe will be a fizzer tonight... $100B is a drop in the ocean imho.

Its got to be volatile again though...what with all the whispers that get out...They must have like a ...Financial Paparazzi imp: or something in Europe.

CanOz

 

[Gringotts Bank]

Can't help but think Europe will be a fizzer tonight... $100B is a drop in the ocean imho.

There must be something in the news, otherwise we wouldn't still be sitting at +50, surely. I'm thinking small to moderate gains overnight.

A few others that might be ok for a gap up:

QBE, COH, AFI, GUD

 

[skc]

There must be something in the news, otherwise we wouldn't still be sitting at +50, surely. I'm thinking small to moderate gains overnight.

A few others that might be ok for a gap up:

QBE, COH, AFI, GUD

May be... they have a 2 day summit and you think / hope they are not firing all their bullets after the first day.

Anyway, shorting OST but will close at the closing auction.

MTS is a long candidate for me. The cap raising while unexpected was hardly a discount and is for debt repayment, not emergence purpose...

QBE already showing plenty of weakness for the day - it ran since Wednesday before the gun and I think it has tired itself out... COH and GUD have pretty poor correlation to the overall market from what I can see...

 

[Gringotts Bank]

May be... they have a 2 day summit and you think / hope they are not firing all their bullets after the first day.

Anyway, shorting OST but will close at the closing auction.

MTS is a long candidate for me. The cap raising while unexpected was hardly a discount and is for debt repayment, not emergence purpose...

QBE already showing plenty of weakness for the day - it ran since Wednesday before the gun and I think it has tired itself out... COH and GUD have pretty poor correlation to the overall market from what I can see...

Ords close enough to +60 for me.

Settled on RMP 36.5 and RNI 36.5.

 

[Logique]

Big bullish moves overnight. Germany, France and CRB index all well up +4%. Crude up +9% is not so good for commuters.

 

[nulla nulla]

Crude up would suggest demand is increasing suggesting manufacturing is expect to increase. ???

 

[nulla nulla]

Bounced off the support levels and heading back to the resistance levels. The ftse was up 57 points last night, the dax 153 and the dow 257. Looks like "blue skies and lollipops" again....for a couple of days.




I wonder if the dow can break above 13,000 again and the xao above 4200. lol

 

[Gringotts Bank]

Sentiment out of Europe slightly better, but 4200 just seems like a bridge too far.

If we finish the day at +40, maybe a rest day tomorrow with say -30, then a decision will be needed by the market as to whether it wants to have another go at a breakout. It wouldn't do it under its own steam - would require more good news from Europe.

 

[Gringotts Bank]

The 'pause that refreshes' is in place. Needing that news out of Europe. Any expected ann's on that side of things?