XAO Banter Thread

[tinhat]

You talkin' to me ?

Dang - I thought you were a certainty :

 

[sammy84]

Tomorrow will say a lot about the strength of this rally.

I've had one stop trigger today but I'll wait until tomorrow to exit. Given the background strength of the XAO to date I'm anticipating a strong move back up either Friday or Monday.

 

[Gringotts Bank]

Tomorrow will say a lot about the strength of this rally.

I've had one stop trigger today but I'll wait until tomorrow to exit. Given the background strength of the XAO to date I'm anticipating a strong move back up either Friday or Monday.

Fund managers won't pour in this sort of cash without following up with further buying, so I'd say a continuation is a certainty unless something very unusual happens.

Further drops ahead, but when will she bounce... ? I'll say 4850.

 

[tech/a]

This is an impulse move
I expect a corrective move before returning to
Test the highs.
Short on the indexes ----- again.
FTSE and DAX.

 

[kid hustlr]

This is an impulse move
I expect a corrective move before returning to
Test the highs.
Short on the indexes ----- again.
FTSE and DAX.

Also leaning this way.

For those considering buying the dips:



(Yahoo data)

 

[tech/a]

Inside day likely as many buy "Percieved" bargains.

I doubth the high for this move is in but as we know if Q/E continues so will the bull run.

 

[RazzaDazzla]

Impulsive down yesterday, impulsive up this morning. Which ones the correction?

 

[tech/a]

Impulsive down yesterday, impulsive up this morning. Which ones the correction?

The high of yesterday wont be taken out.
While this bar remains in control---that is the high isnt taken out--
then it is an impulse move to the downside.

If the LOW of yesterdays bar is eventually taken out then yesterdays
bar will be confirmed.

 

[sammy84]

Provided today's gains hold I think the rebound today says a lot about the strength of this rally. Yesterdays bar was the first sign of weakness in this move. Yesterday will do down as one of those annoying days which stopped people out of positions. Those who were stopped out are probably frustrated and re-entering today to avoid missing out. I would be more confident of a correction if we have a another down trending bar from here.

I would actually prefer a correction though. It's hard to find tradable patterns at presents.

 

[notting]

The high of yesterday wont be taken out.
While this bar remains in control---that is the high isnt taken out--
then it is an impulse move to the downside.

If the LOW of yesterdays bar is eventually taken out then yesterdays
bar will be confirmed.

Very helpful, thank you.

 

[RazzaDazzla]

I'm short the XJO via the SPI. I managed to get short near today's high.

I agree with Tech et al. I don't believe we've hit a major high, but I do believe this is the start of a little breather. Yesterday's big down day can't be ignored.

 

[kid hustlr]

anyone think option expiry played a part y/d? never know what to make of the calendar events

 

[tinhat]

I took a fair bit of profit off the table today. Will be interesting to see which way things go from here over the next few weeks. US politics might start making news over their fiscal "sequestration" carry-on. The Italian election is on the weekend. That could stir up the horse meat in the lasagne.

 

[chops_a_must]

Surprised to see the iron ore plays doing relatively ok.

They're going to be majorly disrupted from this cyclone.

 

[notting]

Surprised to see the iron ore plays doing relatively ok.

They're going to be majorly disrupted from this cyclone.

Priced in?
Most have come off their highs pretty substantially.

 

[chops_a_must]

Looks like another counter trend day on a Friday.

A lot of people are bearish, but all I see is some great breakout patterns forming in a lot of stocks.

Sideways movement in the short term I think is bullish.

But as always, trade it as you see it at the time.

 

[Gringotts Bank]

Trendlines are being respected. Touched support and bounced twice this week.

(btw, these are trendlines, not a trading system).

 

[tinhat]

Thanks for the chart Gringotts.

March 27 is the date that the latest USA federal government continuing appropriations resolution expires. If the market is inclined to pull-back further this could be the catalyst.

Basically, the US congress has not actually passed a budget in years. Instead they pass "continuing resolutions" that enable the government to continue to raise taxes and spend. The latest one expires on 27 March. It will have to be renewed so that the government can continue to tax and spend otherwise it will lead to a government shut down.

As the debt ceiling has currently been suspended by the "No Budget, No Pay Act of 2013" of February, the congress may insist on putting the debt ceiling back into play as part of a deal to continue appropriations. This is purely my conjecture.

Anyway, March pull-back, April-May rebound to new high? Would be nice!

 

[CanOz]

Ya gotta wonder how the whole Cyprus thing gets priced in too, gap up, shorts run for cover...blah blah...

Could have the makings of a nice fluff off top.

CanOz

 

[kid hustlr]

We are pretty oversold right now. Expecting some kind of push up shortly.