XAO Banter Thread

[Gringotts Bank]

Another -60(?) from here and then a moderately strong reversion back to the mean.

A second possibility is a bounce tomorrow off the long term support at 4400. Maybe this is more likely. Looking oversold.

There was a pause at 4400, now 4360 should hold.

 

[Gringotts Bank]

And if that doesn't hold.... there's always another line somewhere.

 

[Trembling Hand]

And if that doesn't hold.... there's always another line somewhere.

Could I ask then if there is so many lines over a chart that one can pick and choose what is the point?

Or more to the point if they continually fail how can they be of any use?

 

[Gringotts Bank]

Could I ask then if there is so many lines over a chart that one can pick and choose what is the point?

Or more to the point if they continually fail how can they be of any use?

A bit like big orders in the DOM. Some get sold into, others hold. All I'm doing is pointing out the most likely places for the XAO to pause or reverse.

 

[Trembling Hand]

A bit like big orders in the DOM. Some get sold into, others hold.

Oh Ok so they are random.... cool!

 

[Gringotts Bank]

Oh Ok so they are random.... cool!

Scoundrel. :jerry

 

[nulla nulla]

A relative perspective from Mr Twiggs of Incredible Charts:

"The ASX 200 found short-term support at 4350. Expect a rally to test the declining trendline at 4450 but this does not indicate the end of the correction. The 21-day Twiggs Money Flow peak below zero reflects medium-term selling pressure. Respect of resistance at 4450 would signal another decline".



Borrowed from the daily email from Mr Twiggs. Hopefully with the overnight rally on the International markets showing the way, our market can start the climb back above 4450.

 

[Joules MM1]

https://twitter.com/joulesmm1/status/274077608537358336/photo/1

It was a hot afternoon,
Last day of Jooooon,
And the sun was a demon,
The clouds were afraid,
One-ten in the shade,
And the pavement was steaming.
I told Billy-Ray,
In his red Chevrolet,
I needed time for some thinkiiiing,

thanks, bobby

 

[Joules MM1]

xjo cfd just cracked 4500 .....it's 11.13pm so it doesnt mean a lot.....yet......

Joules MM1 ‏@joulesmm1

#XJO nice swing 11:30am AUD Private Capital Expenditure q/q actual 2.8% forecast 2.1% prev 3.4%

 

[Joules MM1]

wot a nice slow burn-up day....even the small ords has joined the party.....

:aus:

(note to self, dont fiddle......)

 

[tech/a]

Could I ask then if there is so many lines over a chart that one can pick and choose what is the point?

Or more to the point if they continually fail how can they be of any use?

Come up with as many ways to find a line or point and turn it into a course showing in hindsite where they hit perfectly.
1:10 or 20 will be ample.
Charge $15000 to learn and there you have it.

But wait.
Its already been done---damn---Gann.

Oh Ok so they are random.... cool! .

Only if your trying to trade them.
Not if your teaching them.

 

[brty]

Just changing the conversation a touch, to something about what the XAO is doing, I sold some stock (BHP MND) today as it is looking tired, plus resistence 4530 etc etc. 11th day up without any multiple days down in there.
Time for a rest.

 

[Joules MM1]

http://www.forexfactory.com/calendar.php
------------------------------------------------------------------------

http://soberlook.com/2012/12/australias-economic-data-stays-weak-75.html

December 2, 2012
Australia's economic data stays weak; 75% chance of rate cut

excerpts

AIG/PwC: - Manufacturing activity contracted for the ninth consecutive month in November, with the seasonally adjusted Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI ®) recording a level of 43.6 (readings below 50 indicate a contraction in activity with the distance from 50 indicative of the strength of the decrease). This was a drop of 1.6 points compared to the previous month.

 

[Joules MM1]

i've opened to sell xjo at 4536's today even tho this'll make 11 straight trading sessions in a row where the index has failed to pass the previous sessions low....even better not falling after the open and breaking the opening cash low in most recent sessions.....

the Dow/SPX saw MOC of 3.2Billion to buy at the close on friday but is belied by the large percentage of puts that were bought on friday.....one twitter notes:

Helene Meisler ‏@hmeisler

RE that high put/call ratio Friday, not typical but have seen before. i.e. 12/9/11 on a day $SPX up 20 handles was 120%. Next day SPX -18

looking for a small interruption downwards on the locals tomoz

 

[white_goodman]

A bit like big orders in the DOM. Some get sold into, others hold. All I'm doing is pointing out the most likely places for the XAO to pause or reverse.

can i short that notion?

 

[Gringotts Bank]

can i short that notion?

Yes but you might end up losing money.

 

[white_goodman]

Yes but you might end up losing money.

can i short that aswell?

 

[Joules MM1]

travelling in tight range awaiting rba at 2.30....outside down day on spx.....moc for dow was 1.2billion to buy....

 

[Joules MM1]

i've opened to sell xjo at 4536's



looking for a small interruption downwards on the locals tomoz

small was right! ....buy to exit at 4520...thought we'd go better than that....rba should have mister whippy play around at 2.30

 

[Joules MM1]

down 1/4