XAO Technical Analysis

tech/a said:

There are 2 ways to bleed to death.
Catastrophic trauma or Slow prolonged Haemoraging.

Throwing a band aid on a catastrophic trauma victim isn't going to do much.

Even a .75% rate cut couldn't pull up the prolonged move down.

This week is report week and figures are expected to reflect the true state of the US economy---and that's NOT a bright optimistic out look.

STILL closing off 128 points,US traders must have thought it Xmas being able to get out of longs without too much damage.

If you think its all over---your gambling.

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chops_a_must said:

As I said on another thread, US futures rolled over after close. Nasdaq was killed thanks to AAPL. Friday swing low was not taken out.

Anyone looking at going long here for anymore than a very short term trade must have rocks in their heads. Tech and China are the last cards in the deck, and the US hasn't realised yet they may well be stuffed. I would be looking for a severely down day tomorrow in the US. What are people going to buy now? Even the market leaders appear stuffed, and all this mess is spreading to the 'sure things'.

In 87 there are three trading days that stand out. People might be well advised to look at them, and perhaps see where we might be in relation to that...

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chops_a_must said:

As I said on another thread, US futures rolled over after close. Nasdaq was killed thanks to AAPL. Friday swing low was not taken out.

Anyone looking at going long here for anymore than a very short term trade must have rocks in their heads. Tech and China are the last cards in the deck, and the US hasn't realised yet they may well be stuffed. I would be looking for a severely down day tomorrow in the US. What are people going to buy now? Even the market leaders appear stuffed, and all this mess is spreading to the 'sure things'.

In 87 there are three trading days that stand out. People might be well advised to look at them, and perhaps see where we might be in relation to that...

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dhukka said:

Interesting that the only piece of good news that was expected on Tuesday (unless you expected a 75 bps fed rate cut) was taken negatively. AAPL down 13% in after market trade. And you can see why, 2Q08 forecast eps growth of just 8% for a stock that is trading at 40x earnings. Might get a nice suckers to sell into today.

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moXJO said:

Is there an RBA decision on rates at 11:30 today?

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moXJO said:

Wow the flock is running full steam ahead this morn

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Im gonna max my credit card to the max to buy more today

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im gonna call my grannie and get a $10000 loan to make the most of the rise today

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Gundini said:

BHP up nearly 8%

All green today it seems, relief for those finally!

33.400 +2.400 +7.742 %

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Gundini said:

BHP up nearly 8%

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Nyden said:

Current markets are a gamble, & I refuse to do that

Lost gains, perhaps, realised losses, a definite :
But, I'm convinced we're in for a case of 1 step forward, 2 steps back for a long time now.

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panikhide said:

Crazy - yesterday was the day I cashed in BHP.

The thought that this is a case of 1 step forward, 2 steps back is appealing. Maybe today is the day to sell and do the opposite of what the herd is doing.

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nikkothescorpio said:

I mean look at it rationally - the sum of all problems wasn't that the US Fed had their rates 0.75pts too high - so why would doing this all of a sudden make it shiny happy?

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chops_a_must said:

The sum of all problems was that rates were too low in the first place.

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