XAO Banter Thread

[Dark1975]

Still waiting on further price action,but at the moment 4488 is a key technical resistance line.I'm still of the opinion there's still more of a downturn to come,We still follow the dow,XAO hasn't decoupled on it's own yet.
Interesting to note consumer confidence reports/unemployment on wall street next month will be a true indicator on where we are heading.
Personally as a investor/day trader the risk to reward ratio must be looked at.
I mean short term top to 5000-5100 on the xao is a 10% gain.But the loss can be 10-50%(granted if the 3700 key resistant line holds).
So i see myself only using Cfd's on a daily basis.(In short 100% of my portfolio is in cash at the current time,Only trading day to day until i can see more solid evidence on which way we are heading.
So with the last few threads saying 5000 on the xao by xmas,I'll go the otherway and say 3700 before xmas,maybe by march we will see the previous march lows again(going on ew)
gogo my shorts

 

[nunthewiser]

FWIW

Today i have entered shorts on 3 of my favorite market darlings . All 3 positions are of a smaller nature .

my reasonings are in the form of many "head and shoulder patterns and various previous resistance points .

my stoploss points are of a low % loss and based on todays highs.

basically a probability play based on bouncing off other "potential" shoulder with the Genourosity of the trades giving me a low risk/reward entry.

I still hold longs and will keep to my trailing stops and stoplosses.

i could be wrong and get a quick smack on the cheeks but hey ya gotta be in it to win it

 

[cutz]

my reasonings are in the form of many "head and shoulder patterns and various previous resistance points .

Luv your work nun,

Don't want to sound like a parrot but quite a decent head and shoulder pattern is also forming on the XJO, a triple top on your favorite and let the games begin.

 

[Wysiwyg]

FWIW

Today i have entered shorts on 3 of my favorite market darlings . All 3 positions are of a smaller nature .

my reasonings are in the form of many "head and shoulder patterns and variousprevious resistance points .

None the wiser, I do believe you tried this a month or two ago and it failed because the market rallied from then. Will be interesting to see if you picked it right this time if only to say you did.

 

[nunthewiser]

None the wiser, I do believe you tried this a month or two ago and it failed because the market rallied from then. Will be interesting to see if you picked it right this time if only to say you did.

Picked it wrong a few times of late actually. Anything posted here are merely MY movements and plans , I would think anyone would be highly foolish to even considser basing there trades or actions on ANYTHING i might post ...

I trade for me , no one else, my losses are exactly that MY losses ...... happy to take losses ,all part of the day .

 

[BNECBD_DayTrader]

Just curious, does anyone on here use Aussie Stock Report? I was thinking of joinng but not sure if they are worth the $...

 

[nunthewiser]

For Rockon

A querie from chat why i entered BHP short today ....

Everyone else pay no heed as im often wrong as shown in this thread already

thanks for the facility Joe

 

[oztrades]

Dow vs XAO

 

[cutz]

Is this how you read it nun, potentially a false break.

Interesting how 40 has been like a brick wall with increased volumes off it.

 

[nunthewiser]

Is this how you read it nun, potentially a false break.

Interesting how 40 has been like a brick wall with increased volumes off it.

Just a trade m8 ....... could be wrong...and it cost me a couple of sheckels ....sheet happens......... But yeah its what im looking at from MY chair at present.

 

[oztrades]

xao & xjo & s@p

 

[oztrades]

3 month of above chart

 

[oztrades]

above with dow

 

[oztrades]

dow & xao 5years

 

[cutz]

Thanks oztrades,

Now can we have some commentary ?

This is a banter thread after all.

 

[oztrades]

sure cutz... np... basically dow still trending but xao broken trendline, giving rise for shorters to exclaim the end is nigh.

 

[nunthewiser]

The end is nigh

 

[cutz]

Geez,

If that wasn't a sell off dunno what is.

 

[nulla nulla]

amp, anz, cba, mqg, tls, wbc & wdc are all down. These are all market movers that would offset any contribution from any market gains of bhp & rio.

 

[nulla nulla]

IMO part of todays drop would have been ppl exiting banks to jump into resources. This pushed banks down and resources up. This was then compounded when ppl already in resources pushed resources down as they take their profits, particularly BHP and RIO.