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XAO Banter Thread

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Gringotts Bank said:
The 'pause that refreshes' is in place. Needing that news out of Europe. Any expected ann's on that side of things?
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Only EU PPI...reckon its gonna be another sleeper. I'll watch the open but i think the next two days are going to be quiet. Most traders would take this entire week off, summer holidays.

CanOz
 
CanOz said:
Only EU PPI...reckon its gonna be another sleeper. I'll watch the open but i think the next two days are going to be quiet. Most traders would take this entire week off, summer holidays.

CanOz
Click to expand...

Thanks Can. I also feel like it will be a non event.

How many days can our market stay at this level? I'll guess two... bringing it to Thurs before it must decide.

Anything that's trending strongly has a chance to continue until then. So I want to pick up some strong runners today. Thinking CAP, NEN, VRX
 

Thursday may be a bit slow too, by Friday we should get a little volume back...

I don't read much into the markets over this period, participation is at the lowest.

CanOz
 
4200.

Ease of movement is everything when approaching resistance, and it seems ok right now.

Good day trading conditions.
 
The V-shaped bounce stocks are doing the best.

Do they have longevity? Is there run left in the likes of TGS BND IVR MGX etc.? I think there is, even though they look overbought.

What's everyone thinking?

RMS @ 52.5c, wanting 55c.
 
Gringotts Bank said:
Do they have longevity? Is there run left in the likes of TGS BND IVR MGX etc.? I think there is, even though they look overbought.

What's everyone thinking?
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Not overbought by any stretch more like a sick market than an overbought one.
 
SEA @ 62.5. Not a lot of overhead there.
CLR - sloppy looking market depth means no bots. Trying to get in.
 

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Gringotts Bank said:
SEA @ 62.5. Not a lot of overhead there.
CLR - sloppy looking market depth means no bots. Trying to get in.
Click to expand...

Hmmm...do you really use that XAO chart there for signalling?



To me it looks like mean reversion is still good and I'd be looking for volatility to increase here. I'm a bit sad about the state of affairs 'cos I was a bull for 2012 (flat atm), but I'd be pretty cautious about entering longs at these highs.
 
Some very strong performers and gapping amongst the specs. No reason to think this swing has ended yet, however, getting close - maybe another +10-20 points in it. Only holding ARU, looking to sell for brokerage. Not a day for intraday trading, but maybe some stocks for further overnight gaps. Closing action will tell the story.
 
Most of the big movers were on low turnover. Maybe that's it for this swing. Didn't take any posi's at close. Return to 4183 tomorrow.
 
Low of 4154 so far. The bounce back up is encouraging.

I can't see it swinging back to major support at 4058. Looking for an opportunity at 4137, if it lines up.
 
One of those out-of-synch days. There's anticipation of a decent rally; some jumped the gun and the remainder are waiting for a proper set up, meaning that the whole thing is messy.

Hopefully by the end of day the impatient have realized their mistake and it will end up in the red. If those waiting for the proper set up decide to join in the buying then it will be unsustainable and get sold off tomorrow.
 
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