APZ9 and XJO seem to be testing the trendline from the previous two highs. If so, XAO could be down tomorrow.
XAO Banter Thread
- Thread starter clayton4115
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Umm.. congratulations on calling a short term top?
My method is to try and gauge the mood (sentiment) of the market, I read and ignore most of the extreme viewpoints, ignore the doom and gloom whackos, ignore the blatant pollyanna spin doctors, sometimes they make sense, mostly it's just wild unsubstantiated assertions about recovery and future of the US economy.
One thing that seems obvious at this point in time is that the Australian economy has suffered much less than other economies from the GFC, for that reason alone I feel that any correction on the XAO is likely to be less than the DOW, and medium term outlook (say next 6-12 months) is going to be bullish.
That said, we are still overdue for a correction.. which may or may not come anytime soon...
Summary, smaller correction (if there is one) in XAO than the US markets.
Still more risk in being short than long in the medium term (6-12 months).
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LOL i posted MY post TODAY ........... read my post again ........... unless you know that the market is going up tomorow i have not been proven to be wrong yet
i could always be wrong on my call also but have positionned myself on what I can see happening ............
please read my posts properly in the future
thankyou
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Ok, congratulations duly withdrawn....
thats nice
my point is that you tried to give me stick over a call i made but in your haste to give me stick, you was too quick to type rather than read my post and when it was posted . i merely pointed this out and you replied with yet another smartarse comment .............
i forgive you , no apology needed from you
my reasons for calling what i think is the short term top TODAY is based on my view of a self percieved overshoot and bounce along a resistance line i have in front of me, i do not PERSONALLY think it will have the balls behind it to continue past it for now and will make a quick retreat to regroup itself ......like i said i could be wrong which in turn will lead to a low % loss stopout scenario for ME
again......... unless you willing to make a live call yourself in public, dont be so quick to point and attempt to give grief at others that are happy to
apology accepted
yours sincerely
an on topic nun
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I should also point out that i currently hold NUMEROUS longs and in no way going to change my trading plan based on my view at present . i will continue to run my trailing stops and stoplosses on ALL longs and cannot see any reason to change my strategy .
i have entered 2 short positions on 2 of my favorite market darlings ( resource and financial )( which are both contributers to the XJO and XAO) and both have tight stops based on MY percieved correct stoploss points
i am in no way trading through feelings of "oh no its gone up too fast " or " we need to correct 15 % " blah blah blah
it is merely trading with the flow and what i perceieve to be shorter term moves , the rest can ride until they tell me the partys over
i do hope that clears things up for anyone that thinks i am " biased " or delusional in my trading habits
a.nun
i have entered 2 short positions on 2 of my favorite market darlings ( resource and financial )( which are both contributers to the XJO and XAO) and both have tight stops based on MY percieved correct stoploss points
i am in no way trading through feelings of "oh no its gone up too fast " or " we need to correct 15 % " blah blah blah
it is merely trading with the flow and what i perceieve to be shorter term moves , the rest can ride until they tell me the partys over
i do hope that clears things up for anyone that thinks i am " biased " or delusional in my trading habits
a.nun
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Well breaking through on 4761 can only conclude we are going to see a new leg up, Altho a given there was a bit of resistance at 4770-4780 it was also lower than usual volume.But given the bullish sediment,And with futures indicating a possible strong start on the dow,Would think if the dow finished up in the green,Then tomorrow we will see new highs on the xao.
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thats cool
but how will you have traded today if you needed to wait until the yanks have finished? ......
i mean if you are waiting to see what the yanks will do , would you have gone long or short today for tomorows open ?
or would you have not entered a position and waited to see how it opens ?
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I Have no postions overnight currently i was uncertain,because honestly i had formed a strategy plan on a double top formation,In short i was wrong and will now use only 30% of my porfolio to follow the possibility of the last leg up(just following trend at the current time).
In reguards to your question on todays trading? I had began with shorts on Anz & Cba this morning(had stop losses placed on 0.5%)was closed out early,took a little loss and then re-entered longs on the same stocks,Recovered my losses for the day but closed my postion,waiting on tonight's actions on the dow.I was hoping for negative day on the dow i guess..
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fair enough and thanks for the replies
we are different traders looking at the same stuff but in different ways
have a good evening
we are different traders looking at the same stuff but in different ways
have a good evening
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No worries mate
Agreed we all have different views,with the same common goal.
Cheers,You also have a great night
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another wrong live call on xao top
financial stopped out , still in resource
will step aside now and leave the live calls to the experts
financial stopped out , still in resource
will step aside now and leave the live calls to the experts
Well, at least you made the call, and had the reasons to back it up. Can't do much more than that.
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bump...........
any thoughts ?
we still busting out? or are we going for the duck dive ?
any thoughts ?
we still busting out? or are we going for the duck dive ?
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We're heading for a dive,
According to my analysis i could see a dreadful double top pattern forming.
According to my analysis i could see a dreadful double top pattern forming.
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We're heading for a dive,
According to my analysis i could see a dreadful double top pattern forming.
yep thats the way im leaning also . still have an open short on a resource darling ........ too tight a stop on my previous financial entry but, being related to murphy, if i hadnt stopped out it would have flown to the moon.
still holding numerous longs which will be dealt with individually IF they tell me its time to hit the magic button
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Agree nun,
BHP is a good contender for a nice put backspread, actually so is the whole index.
Go Bears.
Disclaimer, none of the above constitutes any form of advice, in fact for a higher chance of success do the opposite
BHP is a good contender for a nice put backspread, actually so is the whole index.
Go Bears.
Disclaimer, none of the above constitutes any form of advice, in fact for a higher chance of success do the opposite
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wall street spi up 57 points, looks like another good night for the bulls.
Timmy
white swans need love too
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What's a "wall street spi"?
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