XAO Banter Thread

[tech/a]

Nothing

Not trading stock YET.

Havent even set up a list of prospects.
Not wanting to park my money long term into anything just now.

 

[Trembling Hand]

I'm open to any and all opinions. What do you like? What stocks?

All I can see is SBM which I already have.

GB do you trade discretionary or systematically?

 

[tech/a]

Nothing

Not trading stock YET.

Havent even set up a list of prospects.
Not wanting to park my money long term into anything just now.

Do have TGA but thats only a small parcel (10K)

 

[Gringotts Bank]

Nothing

Not trading stock YET.

Havent even set up a list of prospects.
Not wanting to park my money long term into anything just now.

Righto.

@TH, My best system doesn't give all that many signals, so mainly discretionary. Breakout around horizontal res, trend lines, sometimes patterns. Basic stuff.

 

[Joules MM1]

we got there...holding 4260 level xjo....do die or suck a very fat kumera......

and spx making an outside weekly up bar....o/n downside bets are all squished on xjo .... cfd holding 4348 as i type

 

[Trembling Hand]

Who turned on the opposite switch for the ASX today?



lol!

 

[tinhat]

Who turned on the opposite switch for the ASX today?

View attachment 48874

lol!

Yeah, XAO a real fizzer but check out FMG and MGX for example. Quite a relief rally going off.

 

[Gringotts Bank]

Today is a channel break so weak you'd almost call it a fail. So I'm shifting my short term lines (white) to include today's upper wick. Makes the gradient less again. So it looks like a slow decline for the mo, imo, yo.

 

[skc]

Today is a channel break so weak you'd almost call it a fail. So I'm shifting my short term lines (white) to include today's upper wick. Makes the gradient less again. So it looks like a slow decline for the mo, imo, yo.

If you shift the line's gradient like that, how do you use the channel for trading?

 

[Gringotts Bank]

If you shift the line's gradient like that, how do you use the channel for trading?

I basically do what Bulkowski does and see how many stock charts look bullish. If there's a lot, then the xao line break means buy. If there's very few (like yesterday), then I'm expecting either false break, or a weak break or none at all. Today I'd say is a weak/false break with that long wick. SO I'm not expecting any continuation. Therefore I move my lines to include the wick. If today and yesterday were full of bullish stock charts, I'd keep the old lines the way they were and trade off that.

 

[CanOz]

?... but check out FMG and MGX for example. Quite a relief rally going off.

Someones going to need some rebar soon!

 

[notting]

Jobs report in US pretty bad.
Easing is almost a sure thing now for next week.
Sell on the day, I'd say, if we keep rallying into it.
Gold is kind of weak given the Euro rally vs US$.
Could get a bit of a lift out of this.

 

[notting]

I don't have a clue as to why the banks are dragging on the market at present?:dunno:
I guess that makes them all a buy unless someone has a better idea?

 

[CanOz]

I don't have a clue as to why the banks are dragging on the market at present?:dunno:
I guess that makes them all a buy unless someone has a better idea?

Bad loans?

 

[notting]

Unless of course there is something most unsavoury melting in the pot. :bounce:
It would be funny if the German judges had all bet their fortunes in a secret trust as shorts against the market and decide to rule against ECB bond buying.

 

[tinhat]

I don't have a clue as to why the banks are dragging on the market at present?:dunno:
I guess that makes them all a buy unless someone has a better idea?

IMHO the big four are all fully priced at the moment. I've got a lot of bank stocks in the SMSF - big proportion of the portfolio is in three of the four big banks (mainly CBA). I bought them with the assumption of no earnings growth in the short term, and in fact earnings growth is only likely to be at about inflation for the next couple of years anyway - how much cost cutting can you do? But then which of the blue chip defensives have earnings growth forecasts that are much above inflation at the moment? If you were purely a yield chaser then NAB is the only one that looks attractive at the moment - but there is no dividend due from them until the end of the year.

There are still worries in the market about BASEL requirements, the banks large reliance on off shore funding and the Australian residential property market. The outlook for further interest rate easing over the current cycle may be seen as a risk to banks margins? Overseas investors have probably gone a bit bearish on Australia of late too.

 

[Reece1]

Hi all

I have traded the SP500 for over 18 months now.

I am looking to move into the asian markets ans trade the SPI 200

when trading the emini i used the OEX as a lead indicator aswell as SPX, MID 400, DJ30 for furtherconformation

Im interested in similar way to trade the SPI 200

I know XTL is the top 20 blue chips and this would be similar to the OEX and XJO would be similar to the SPX

is there any other indexes out there that have an influence over the SPI 200

such as the XMD mid cap 50, XAO all ordinaries

and obviously BHP CBA would have a big influence


Thanks for the help

looking forward to make the transition into the Asian markets

 

[Trembling Hand]

is there any other indexes out there that have an influence over the SPI 200

looking forward to make the transition into the Asian markets

The other Asian indexes. HSI, Kospi, Nikkei, China.

I wouldn't bother looking at ASX sub indexes. Mostly they are laggers.

By the way SPI sux.

 

[Reece1]

thanks mate

I wouldnt say it sux intraday plenty of good moves most days.

XTL seems to have an influence over SPI at medium degree support and resistance

been trading it for the last 2 weeks with success so far

same patterns as the SP as far as I can see just a bit slow.

 

[Trembling Hand]

I wouldnt say it sux intraday plenty of good moves most days.

just a bit slow.

Well maybe but wait till you get a week of daily ranges less than 20 ticks and see what that does to your equity curve.