XAO Banter Thread

[skc]

Simon says, panic attack. Disappointing for me as I saw downtrend lines broken but it was only the goal posts being moved.

Haven't seen action like that for some time. 100pts reversal out of nowhere really. I thought the RIO new would have provided some upside to the market. I thought we have found a short term base for the time, but instead we broken lower in quite a hurry. There's still a chance we'd hold last week's low on a daily close basis... but that was some selling velocity this morning.

 

[Trembling Hand]

Haven't seen action like that for some time. 100pts reversal out of nowhere really. I thought the RIO new would have provided some upside to the market. I thought we have found a short term base for the time, but instead we broken lower in quite a hurry. There's still a chance we'd hold last week's low on a daily close basis... but that was some selling velocity this morning.

Looks like good old fashion hot money fleeing off-shore. Like the good old days (07) when the Aussie $ cracked the sharemarket followed because the OS funds priced not in AUD were getting spanked on both ends. Which leads to more AUD falls and the need for more fund liquidation. Can get nasty.

 

[skc]

Looks like good old fashion hot money fleeing off-shore. Like the good old days (07) when the Aussie $ cracked the sharemarket followed because the OS funds priced not in AUD were getting spanked on both ends. Which leads to more AUD falls and the need for more fund liquidation. Can get nasty.

Yes... then local bargain hunters step back in and pushes it back up 80 points from the low.

My day's P&L yo-yo'd like the market did even though I had no directional bias.

I hope we will see more days like these.

 

[nulla nulla]

It occurred to me that the big players had yesterday off. Volumes were down and some prices managed to sneak up a few cents lifting the All-ords.

Today they are back on deck and it looks to me like they decided to start a sell down and flush out some of yesterdays retail buyers, selling quickly through the retail buyers trailing stops. Then when the prices were low enough the big players started accumulating, letting prices recover slowly as they controlled the volume weighted average prices. Quick money to catch up the day off.

 

[PinguPingu]

Ooof down almost 2% at one point this morning, bring on the pain train.

 

[Trembling Hand]

SFE exchange is broken. ASX might be lucky and go nowhere until its fixed.

 

[skc]

SFE exchange is broken. ASX might be lucky and go nowhere until its fixed.

Actually thought the ASX held up remarkably well this morning... we could be down another 2% easily.

I have a SPI feed and chart on my screen that I glance at regularly. Without it running it definitely feels wrong...

 

[Wysiwyg]

SFE exchange is broken. ASX might be lucky and go nowhere until its fixed.

If this gaps and people lose money due to no data feed and no execution capability, compensation should be awarded.

 

[skc]

If this gaps and people lose money due to no data feed and no execution capability, compensation should be awarded.

Only if you promise to give the profits back if it gaps in your favour

 

[Wysiwyg]

Only if you promise to give the profits back if it gaps in your favour

G'day. Do you recall what high to low figures you quoted? Was it 5080 low?

 

[skc]

G'day. Do you recall what high to low figures you quoted? Was it 5080 low?

You meant this guess?
https://www.aussiestockforums.com/f...=17461&page=57&p=840777&viewfull=1#post840777

Year end target is 5180 but that's not a prediction of the low. The low could well overshoot that number before a 200pt Santa rally.

The SPI reopened at roughly the same level... everyone is happy I suppose...

 

[Wysiwyg]

Thank you

I'm getting SPI data but CFD broker not passing it on.

 

[nekminit]

Don't you hate it when you open a position on the asx 200 going short at 5594.83 leaving the trade at 5374.32 and checking out the price now, i think asx will drop below 5000 in the next 10 days.

 

[PinguPingu]

Relief rally before heading down further? (Iron ore and commodity bounce as well)

 

[dlineinvestor]

Hi Guys,
Trading a long but sold WAY ... too soon out at 5170 .... have I been the only one caught off guard with this surge ?
Hate leaving so much on the table. As far as what's accountable iron ore up 4% from yesterday. Funds piling into miners.
Anything I've missed ? Good shorting opportunity now if it's the high. We are back in resistance areas
Cheers

 

[dlineinvestor]

Don't you hate it when you open a position on the asx 200 going short at 5594.83 leaving the trade at 5374.32 and checking out the price now, i think asx will drop below 5000 in the next 10 days.

That was 221 pt gain ! Staying in that trade for 2 weeks was a good trading.
I've heard "you can never do the right thing in trading : Either you sell too soon, sell too late, buy too small buy too big the list goes on ... but a think a "well done is deserved here ....
Today's run up would be another nice opp if you think the market is to run down to 5000. I'm in at 5208 shrt

 

[pavilion103]

Was tossing up 5190 at the end of the day.

Pushed up to test the low of the little base formed in the past week. Not sure if we will see a re-test again.

Definitely the types of days to be looking to find a good short for a hold.

 

[PinguPingu]

Another decent up day with big yeilders rising, but looks like good resistance up at 5300-5350. I think if we remain below it this week, its down to 5100-5000 towards end of the month. But I know if I took the short it'll spike back up the other way, I didn't, so we'll go down. :

 

[dlineinvestor]

Another decent up day with big yeilders rising, but looks like good resistance up at 5300-5350. I think if we remain below it this week, its down to 5100-5000 towards end of the month. But I know if I took the short it'll spike back up the other way, I didn't, so we'll go down. :

Calling that the bottom is in would be foolish but price action is certainly trying to push into previous trading range.
I also see this on a one hour ..... anyone agree bearish wedge ?
Guess I'll be trading it's breakout either way.

 

[skc]

Very important juncture for the recent slide then rally. There's been very little hesitation shown today so perhaps we can leave the "almost correction" behind.

But the next 50 points or so might be hard grinding.