XAO---Im about to change into my SHORTS

tech/a · 6 May 2005

Re: XAO---Im about to change into my SHORTS.

I thought yesterday was a low and that was confirmed today.

If there is a break of the current down trend and new highs are made
EG above around 4032 then I would say that things are no longer bearish.

However I do think there is a strong chance that the index may fall into a range as the DOW has

This could be bound around 3900 to 4250.

Of course if the low or high of 4250 is taken out then we have a resumption of bull or bear.

Fantastic another technical explaination that goes around in a circle!!

DTM · 6 May 2005

Re: XAO---Im about to change into my SHORTS.

tech/a said:
Fantastic another technical explaination that goes around in a circle!!

Better than having no explanation at all.

It prepares people mentally for what to expect, and even if its wrong, it may make them decisive rather than sit, wait and hope.

tech/a · 6 May 2005

Re: XAO---Im about to change into my SHORTS.

DTM said:
and even if its wrong

Ive been sitting here trying to work out a scenario that could occur that would make my circular analysis wrong!

Nahh cant find one---technical anaysis at its best ---even if I do say so myself.

tech/a · 12 May 2005

XAO

Just an update cant find the original discussion on the ASX

WaySolid · 12 May 2005

Re: XAO

The overnight SPI is now at 4030 so I'm not sure what lines that is breaking if any.

I'm watching very carefully to get a better read on the mid term future of the ASX. With 'super choice' not far away and my own personal view on the cash floating around in our economy; I will not be surprised to see the ASX test the March highs before too long.

Just my 2c worth, and my 2c are where my mouth is in this case.

RichKid · 12 May 2005

Re: XAO

tech/a said:
Just an update cant find the original discussion on the ASX

Tech,
I've merged your thread with the old one as you can see, I just used the search tool and type in XAO as I had trouble finding it too- it had slipped back a bit. Hope this helps, we're in the process of tidying up some of the forums as things are begining to get a bit busy again.

As for the chart, it's slow and steady moves imo, very cautious, let's see if it can sustain this initial break.

DTM · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

XAO down 26 points, XJO 30 points in first hour today. Looks like we're heading into free fall territory again.

I had a down direction for the markets but I would like to know the reason.

Anyone know the cause?

tech/a · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

DJIA down 110.
Apathy to the budget.

Victoria and David Beckham are fighting again.
I lost my keys this morning.

DTM · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

tech/a said:
DJIA down 110.
Apathy to the budget.

Victoria and David Beckham are fighting again.
I lost my keys this morning.

Ha ha ha ha..... LOL Very funny!!!

It's very important to keep one's sense of humour in times like these.

Tech/A, I've been trying to find your suggestions on how to select stocks to short without any luck. Could you post it again for those of us here who are interested in shorting stocks?

Thanks in advance.

Investor · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

DTM said:
XAO down 26 points, XJO 30 points in first hour today. Looks like we're heading into free fall territory again.

I had a down direction for the markets but I would like to know the reason.

Anyone know the cause?

Apart from the reasons that were stated, it is Friday, the 13th

Also, the dog ate my homework.

DTM · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

Its 1.30pm and the XJO, XAO seem to have stabilised but I get this ominous

feeling that its going to drop again.

Investor · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

Yes. It is hard to read at the moment.

What happens this afternoon could depend on whether local fund managers place some more of that stash of cash that they are sitting on, because the selling by foreigners could have gone through the system this morning (but this is merely my conjecture).

Friday the 13th.....do not go out into the woods tonight....

DTM · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

Wow. What a ride. The market (XJO) rebounded 20 points in the last hour or so from a low of 3991.

Aussiejeff · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

Funny. The last few "up" days for the XAO were a bummer for me as I have been holding a sizeable batch of UTB, which due to bloody annoying circumstances (not entirely beyond my control) I was unable to dump at their peak in March - and which have of course been falling like the proverbial ever since!

So, let me say that today was a VG DAY for AJ!!! Managed to sell out my accumulated $20,000 paper loss with UTB to now less than $3000. The sound of all that extra crinkly cash in the Piggy Bank sounds rather nice ATM...even if it was at break-even after fees for the shares traded - *wipes sweat from brow and retires to games room with chilled glass of Chateau Cardeborde to continue tossing darts blindfolded at genuine A.C.M.E. "Shares To Buy" Dart Board *

;o)

Happy trading,

AJ

Investor · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

3,776,666 shares in ZFX were traded today at a price range of $2.83 to $2.88.

Watch for ZFX's announcement on Monday as to how many shares it bought today.

If 200,000 or less were bought by ZFX, all traders take note.......

Shorting this stock is as close to a "done deal" as you can get. However, make your own decision, as I cannot give any financial advice.

Smurf1976 · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

Investor said:
3,776,666 shares in ZFX were traded today at a price range of $2.83 to $2.88.

Watch for ZFX's announcement on Monday as to how many shares it bought today.

If 200,000 or less were bought by ZFX, all traders take note.......

Shorting this stock is as close to a "done deal" as you can get. However, make your own decision, as I cannot give any financial advice.

Careful there Investor, the idea of shorting ZFX might ruffle some Chicken feathers

Sorry Chicken but I couldn't resist... All intended in good humor

By the way I spent much of the day lost in the bush around Bedlam Walls which gives an absolutely stunning view of Zinifex Hobart Smelter looking from across the river. Pity I couldn't find the walking track though.

RichKid · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

The Banks, mate, when they go it'll be the proverbial hair that broke the camels back, very short term I also see gold and oil low so corresponding stocks will be hit imo- see my charts elsewhere on ASF. Great buying opportunities in specific sectors not too far away but I'm short for now (possibly till June). Sell in May and go away.

RichKid · 13 May 2005

Re: XAO---Im about to change into my SHORTS.

DTM said:
Wow. What a ride. The market (XJO) rebounded 20 points in the last hour or so from a low of 3991.

That end of day buying is probably the fundies punting on this being near the bottom, dumb money is supposed to be spread around way before the last hour, in theory. How long can this market be propped up? I'd like to see some figures for fundies cash holdings atm.

Smurf1976 · 15 May 2005

Re: XAO---Im about to change into my SHORTS.

RichKid said:
That end of day buying is probably the fundies punting on this being near the bottom, dumb money is supposed to be spread around way before the last hour, in theory. How long can this market be propped up? I'd like to see some figures for fundies cash holdings atm.

Over the short term, do you think the funds are right? Up on Monday??? Dow was down Friday night so I guess that makes it less likely but a positive sign if the ASX does go up or at least flat.

ob1kenobi · 15 May 2005

Re: XAO---Im about to change into my SHORTS.

Some interesting statistics.

Company Data

Company Name: Australia ASX ALL ORDINARIES

Exchange: Sydney ASX

52-Week High: 4,255.80 on Monday, March 21, 2005

52-Week Low: 3,346.80 on Tuesday, May 18, 2004

Average Price: 4,083.37 (50-day) 3,911.83 (200-day)

Looking at the chart for 1 year and then 5 year and then analysing the data, it's reasonable to assume that the XAO will hover around the 3900 mark, possibly dipping to 3700. Obviously it will have its good days but that would be my expectation at the moment, particularly given that we are in the reporting season and there are a number of external factors still at play or yet to be factored in. Either go short or be very patient.

XAO---Im about to change into my SHORTS

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