Australian (ASX) Stock Market Forum

XAO Banter Thread

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tinhat said:
Bad news people.

I've just stumbled upon this blog article:
Australia to enter a very sad period

It's not good. According to the author the 2007 top completed a one hundred year Elliot upwave and we are now only just starting to slide into a corrective pattern that will see the All Ords "mean revert" down to 2,200.

View attachment 52147

Personally I find it hard to see the Elliot wave in that chart.

Hold onto your hats and don't say I didn't warn you.
Click to expand...

Thanks tinhat,

I do like EW.

Can you elaborate on your post?

On the one hand you say you see nothing in a chart you posted advocating a downward direction for the XAO, and on the other you advocate holding on to a tiny tin hat, and post an ominous warning.

gg
 
tinhat said:
Bad news people.

I've just stumbled upon this blog article:
Australia to enter a very sad period

It's not good. According to the author the 2007 top completed a one hundred year Elliot upwave and we are now only just starting to slide into a corrective pattern that will see the All Ords "mean revert" down to 2,200.

View attachment 52147

Personally I find it hard to see the Elliot wave in that chart.

Hold onto your hats and don't say I didn't warn you.
Click to expand...


well this is scientific...
 
Well, there is only one thing to do this time then tinhat...


Get your shorts on!


CanOz
 
tinhat said:
Bad news people.

Personally I find it hard to see the Elliot wave in that chart.

Hold onto your hats and don't say I didn't warn you.
Click to expand...

Elliot wave guru's :banghead:

Can someone please do a study to collect all there top calls from these nutz.
 
tinhat said:
Personally I find it hard to see the Elliot wave in that chart.
Click to expand...

Agree, that is really trying to force a count which is the first no no.
Looks to me like someone has just read EW for Dummies and believes they have got it nutted out.
Where is the start of W.1, what looks like an attempt to plot W.3 is flawed both in the primary and in the W.3 of W.5.

That's the sort of stuff that adds additional confusion to an initially complex but a simple once understood concept that usually only works 50% of the time on 50% of any group (what more do you need).
 
Honestly, how did any of us ignoranti manage before live blogging and tweeting?

Why is the market down after this morning's session?
‘‘I think it’s because [investors] are absorbing the budget and getting down to the fine detail of those policy statements and spending,’’ RBS Morgans Ipswich manager Tony Russell said

Read more: http://www.smh.com.au/business/mark...e-asx-slump-20130515-2jlg3.html#ixzz2TKFmZOxg
Click to expand...

Thank goodness for online broking. I don't know that I would be able to cope with having to talk to a broker in order to place a trade.

Tony has obviously been on the phone this morning gauging the sentiment at the top end of Ipswich.

If you need to know what is really going down talk to Tony:
http://www.rbsmorgans.com/Branches/QLD/ipswich/About-Us/Our-Team/Advisers/Tony-Russell.aspx

‘‘There’s also ongoing concern with what’s happening in China at the moment and with the Australian dollar.’’

Read more: http://www.smh.com.au/business/mark...e-asx-slump-20130515-2jlg3.html#ixzz2TKJ6c88E
Click to expand...

Oh yeah - something about the AUD maybe and China.
 
1:22pm: This says it all really:

Brooke Corte @brookecorte
Australian market having a shocker today. Having opened +0.5%, currently -0.9% as commodities tumble #ASX #ausbiz
1:17 PM - 15 May 2013
Click to expand...

No it doesn't. Why? We need to know why? Poppy seed glut? Fears of an unexpected twist on tonight's 'House Rules'?

I just can't tear myself away from the markets live blog today in case I miss some really important news.

http://www.smh.com.au/business/markets-live/markets-live-miners-drive-asx-slump-20130515-2jlg3.html
 
OIC. Somebody set us up the bomb.

boris natasha.png

That dastardly duo is at it again. Oh Wayne, have you been playing with the treasury forecasts again? :grenade:
 
"They" have said that one of the reasons the XJO/XAO hasn't reached historical highs like US is because of the high AUS dollar. There has been a significant decline in the AUD, yet no significant rise in the XJO/XAO. Why?
 
The number of Australians directly owning shares fell to the lowest level in more than a decade as the global finance crisis has sapped investor confidence and crimped returns.

The latest Australian Share Ownership Study, run by the Australian Securities Exchange, shows the number of investors directly owning shares has fallen to 34 per cent, down from 39 per cent in the last survey in 2010.

Total share ownership, which includes exposure to the sharemarket through unlisted managed funds, has fallen to 38 per cent, down from 43 per cent in 2010.
Click to expand...

http://www.smh.com.au/money/investing/share-ownership-lowest-since-2000-20130521-2jy4y.html

Yet despite all this, the market has managed to crawl back up to decent levels in the last 12 months. Perhaps this is due to foreign investors?
 
The month of May can kill the best of trends.

I'm going to start using the Aztec calender from now on- at least it has no May. We're currently in the month Etzalcualiztli. Looking forward to a stronger trend developing in Tecuilhuitontli.
 
A lot of stocks off their highs.

Banks stabilized but no way they will push up from here for a while, TLS same.

Big miners and other industrials lackluster, uninteresting charts.

Small miners, some opportunities off very low lows.
 
Gringotts Bank said:
A lot of stocks off their highs.

Banks stabilized but no way they will push up from here for a while, TLS same.

Big miners and other industrials lackluster, uninteresting charts.

Small miners, some opportunities off very low lows.
Click to expand...

There's certainly a lull and I cant see the bulls coming back in a hurry, the downside hasn't finished yet,:2twocents
 
Re: XAO Technical Analysis

Another rough night on sycom, things are starting to look messy now.

Great call tech, hope you traded it.
 
Re: XAO Technical Analysis

Hardly surprising the market continues to fall -

Treasury secretary Martin Parkinson calls for calm over WA recession fears = panic

Asbestos TLS - no big deal maybe..........= mild panic

Union raises fears that Telstra communication pits contain deadly banned pesticide dieldrin - starting to look iffy there

Money pouring out of Australia -

and to top it off -

ABC refutes claims of axe for Bananas In Pyjamas

It will turn when all this subsides.
 
Re: XAO Technical Analysis

MrBurns said:
Hardly surprising the market continues to fall -

Treasury secretary Martin Parkinson calls for calm over WA recession fears = panic

Asbestos TLS - no big deal maybe..........= mild panic

Union raises fears that Telstra communication pits contain deadly banned pesticide dieldrin - starting to look iffy there

Money pouring out of Australia -

and to top it off -

ABC refutes claims of axe for Bananas In Pyjamas

It will turn when all this subsides.
Click to expand...


That's right Mr.B, you can find lots of news to blame it on...that's what the journo's are good at...never mind that people just want to take profits/no one wants to buy anymore, we needed a technical correction. Its too hard to explain and doesn't sell adverts...

FWIW, i don't think this is the big one yet:2twocents, maybe just a correction. Seems too easy for the big one...:cautious:

CanOz
 

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