Australian (ASX) Stock Market Forum

XAO Technical Analysis

Jump to new
Re: XAO Analysis

The 4300 area on the xao is the 1-1 ratio down with the initial wave down.

We have 50% of all time price at the 3450 area which is also conincidentally the same area as the tops of the 01-02. We cannot go down to this area, If we even get close to this area then when you realise how far below where we currently are it is it would mean that the major banking stocks and mining stocks etc would have to fall at least 60-80% of all time prices. Stocks like Suncorp could even fail and that cannot be allowed to happen

When you realise how much more we would go down to reach that area and then equate that to overseas markets, then kaboom.

The devestation on the economy would be the greatest equaling the great depression era.

The United states congress WILL offer a solution in the next few days becasue they HAVE TO. I personally expect us to false break below the 4300 area and then pull up in line with congress passing the required solution.

The 1987 market dropped 50%, however our banks ( which control the economy) hare allready experienced falls of 40-50%. Don't forget ANZ and westpac dropped just over 60% of their all times high in the crisis that followed.

But at the end of the day it is just talk, will I have the guts to go into the market at the 4300 area, we shall see.
 
Re: XAO Analysis

Well, it has hit support created a few days ago.

I'm feeling once bitten at the moment, but I do have a small holding.
 
Re: XAO Analysis

korrupt_1 said:
i've heard that expression a few times "ears pinned back".. what does that mean? to go in with confidence? or is it a gamble and hoping for the best?
Click to expand...

I was curious too, so I googled it:

“To have one’s ears pinned back” means to be chastised, scolded or verbally disciplined in a very forceful manner, or, by extension, to be soundly defeated in a contest or an argument. It’s an American phrase that first appeared in the mid-19th century, and although “to have one’s ears pinned back” is by far the most common form, the Dictionary of American English also lists “to get one’s ears knocked down” and “to get one’s ears chewed down” as synonyms meaning “to receive a severe scolding.” All of these phrases are, incidentally, distinct from such sayings as “to have one’s ears lowered,” meaning to get a haircut. The British use of “pin one’s ears back” to mean “pay close attention” appears to refer to an animal raising its ears in alertness, an action also known a “pricking up” its ears.
Click to expand...

Strange.
 
Re: XAO Analysis

korrupt_1 said:
what does that mean? to go in with confidence? or is it a gamble and hoping for the best?
Click to expand...

No hoping, they work or they don't :confused:

Just to be clear Like my post before the open saying that I expect a higher close than the open. Have bought the open and more on the way up. Half flipped off now. the rest trailing stops to the close.

I'm not that interested in holding much overnight but will reassess if trailing stops aren't taken out (which I doubt they will survive).
 
Re: XAO Analysis

kotim said:
The 4300 area on the xao is the 1-1 ratio down with the initial wave down.

We have 50% of all time price at the 3450 area which is also conincidentally the same area as the tops of the 01-02. We cannot go down to this area, If we even get close to this area then when you realise how far below where we currently are it is it would mean that the major banking stocks and mining stocks etc would have to fall at least 60-80% of all time prices. Stocks like Suncorp could even fail and that cannot be allowed to happen

When you realise how much more we would go down to reach that area and then equate that to overseas markets, then kaboom.

The devestation on the economy would be the greatest equaling the great depression era.

The United states congress WILL offer a solution in the next few days becasue they HAVE TO. I personally expect us to false break below the 4300 area and then pull up in line with congress passing the required solution.

The 1987 market dropped 50%, however our banks ( which control the economy) hare allready experienced falls of 40-50%. Don't forget ANZ and westpac dropped just over 60% of their all times high in the crisis that followed.

But at the end of the day it is just talk, will I have the guts to go into the market at the 4300 area, we shall see.
Click to expand...


Monthly Log chart below of XAO interesting 87 got smashed (I read 61.8% retrace)where here we are seemingly in bigger trouble and just bleeding down and people talking about buying

I am still don't feel the fear is high enough to buy (the VIX certainly thinks so) maybe I will miss the bottom this time around.


.
 

Attachments

  • XAO20080930.png
    XAO20080930.png
    20.9 KB · Views: 6
Re: XAO Analysis

Trembling Hand said:
We aren't in America or google.

ever seen a grey hound run?? or a rabbit? or a grey hound run after a rabbit??

In any case we have ran 200 points UP since the open (futs)
Click to expand...

So more "The British use of “pin one’s ears back” to mean “pay close attention” appears to refer to an animal raising its ears in alertness, an action also known as “pricking up” its ears." definition?

As in go in paying very close attention?
 
Re: XAO Analysis

Sunder said:
So more "The British use of “pin one’s ears back” to mean “pay close attention” appears to refer to an animal raising its ears in alertness, an action also known as “pricking up” its ears." definition?

As in go in paying very close attention?
Click to expand...

yes... i think that's what it means...

to enter the trade with confidence but fully alert and ready to act.

ie.. when u see a lion hunt... it's ears are pinned back... fully alert and ready to pounce.
 
Re: XAO Analysis

LOL or like this....

hummin_alt1.gif
 
Re: XAO Analysis

A horse or dog pin their ears back just before and as they strike.

BHP looks sweet in the 31s, are you getting some ?
 
Re: XAO Analysis

If Wall Street bounces back a little tonight it may setup a good opportunity for shorts tomorrow at the open? What do you think.?
 
Top