wayneL
VIVA LA LIBERTAD, CARAJO!
- Joined
- 9 July 2004
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Nope.Whiskers...can wave 4 overlap the top of wave 1?
Whiskers...can wave 4 overlap the top of wave 1?
Nope.
Can't call it a diagonal either.
Gotta be corrective.
What do ya mean by a dioganal?
Whiskers...can wave 4 overlap the top of wave 1?
A leading diagonal is also a 5 wave pattern (identified by Frost and Prechter) that can form wave one of an impulse of a larger degree. In the leading diagonal, wave 4 CAN overlap wave 1, however, the pattern is a converging one, whereas the current pattern in XAO is diverging.
This destroys its potential as a diagonal.
Hi Wave,
What do you mean by "final target" ?
Then what?
Doubt we will see the previous lows again.
Does anyone theink they can pick BHP up at $33 again or maybe WPL, STO, RIO back to the levels they were at the last market bottom.
Oil at record highs, massive gas deals being done, Coal price rocketing.
The banks well they have been struggling but the Australian banks have proven to be well placed to handle the sub prime crisis.
Time will tell but our market is prepared to handle the worst.
We could see the lows again and a bit further, but it just depends on your investment horizon and how you deal with this. Are you a trader or long term investor? This is the problem with a lot of the discussuion here. The trend since 1900 is up.Doubt we will see the previous lows again.
Does anyone theink they can pick BHP up at $33 again or maybe WPL, STO, RIO back to the levels they were at the last market bottom.
Oil at record highs, massive gas deals being done, Coal price rocketing.
The banks well they have been struggling but the Australian banks have proven to be well placed to handle the sub prime crisis.
Time will tell but our market is prepared to handle the worst.
But BHP is waaaay off its NYSE highs, barely up much at all. Add in some exchange rate change from Friday and it could even be negative on the ASX.Margin calls were the curse of the previous drop and alot have exited their positions already.
Oil majors will profit bigtime when the market re opens on Tuesday and that includes BHP which as well all know moves the ASX more than any company.
We're probably lucky we have Monday off for the hysteria to dissipate, and then we'll have the chance to take in the likely US recovery on Monday. Although, quite happy gold has had a stiffy.
IMO, we are very lucky that we have the day off so that the F&G settles, that's all. If we were open tomorrow morning, then there'd be quite a few taxi drivers wanting to change into the head on lane...Lucky? I'd say we could be very unlucky because i'm sure many would be wanting to dump holdings first thing Monday morning in case the US follows through with another horror night, which is very likely since several stocks i noticed closed exactly at their day low. Watch the sheer panic Tuesday morning if that does eventuate. As for being happy that gold rose $25 or whatever, i think that at best goldies will only hold steady on Tuesday, but who knows what gold will do Monday anyway.
Margin calls were the curse of the previous drop and alot have exited their positions already.
Oil majors will profit bigtime when the market re opens on Tuesday and that includes BHP which as well all know moves the ASX more than any company.
Rising oil price is going to feed back into commodities and economy's in general maybe it will take time may be not.
An oil shock will dent the consumer immediately every where.
My SMSF is still waiting since November 07 for 4800 maybe it will come maybe it wont..
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