XAO Technical Analysis

brty · 9 October 2008

Re: XAO Analysis

Considering the rally from the IR cuts lasted a grand total of 6 minutes after the announcement, and about a hour before the announcement and we are about 37 points down on the spoos, it doesn't look like the cat will be bouncing tomorrow.

In fact tonight maybe the time to assume the crash position. The PPT maybe out of ammunition.

brty

mayk · 9 October 2008

Re: XAO Analysis

Who know, the Central banks might pull another rabbit out of their a*se to woo stock market. May be another .5BP cut will create another euphoria...

Trembling Hand · 9 October 2008

Re: XAO Analysis

DUMB timing. These guys have no idea. no idea!!

They should of waited until the US opened down 2-3 % then announced. They would of had all the short Futs caught + the punters buying the cash.

We would of had a proper rally.

IDIOTS can't even organise a proper rally.

Kauri · 9 October 2008

Re: XAO Analysis

Trembling Hand said:
DUMB timing. These guys have no idea. no idea!!

They should of waited until the US opened down 2-3 % then announced. They would of had all the short Futs caught + the punters buying the cash.

We would of had a proper rally.

IDIOTS can't even organise a properly rally.

maybe the fact that with a long weekend coming up in the States and the Israel holiday tomorrow, today was clearly ear marked as the optimum day to do the dastardly deed??

Cheers
...........Kauri.

tech/a · 9 October 2008

Re: XAO Analysis

Ho hum

I find it simply amazing that people think that to biggest single collapse in the Western monetary system is going to be solved in a day/week or month.
This will take years.

The reaction I see from traders who simply think the market will turn bullish overnight and remain there just proves how incomptent most are.

These are going to be a very challenging few years.
The bandaids are on but the hemmoraging still remains,You'll recongnise a bottom it will be long and flat not a SPIKE!

tech/a · 9 October 2008

Re: XAO Analysis

Note the HEADLINE to the right.
Aint that the truth! and it will be the same in the European markets.
This shot was taken a few minutes ago.

CamKawa · 9 October 2008

Re: XAO Analysis

lol

Check out this headline.

Aussiejeff · 9 October 2008

Re: XAO Analysis

Last night, desperate Fed agents knocked on the [size=+1]The Gho$tbu$ter$[/size] garage door, but they had to flee when a [size=+2]$uper$ized $tay Puft MacMar$hmallow Man[/size] appeared behind them, trampling downtown Manhattan.

MrBurns · 9 October 2008

Re: XAO Analysis

BHP and RIO have gone up, aren't the public cute ? they think they're grabbing bargains !

HAHAHAhahahahaha
oh I needed that..........

Aussiejeff · 9 October 2008

Re: XAO Analysis

MrBurns said:
BHP and RIO have gone up, aren't the public cute ? they think they're grabbing bargains !

HAHAHAhahahahaha
oh I needed that..........

Apparently, online gambling is a growth industry...

nunthewiser · 9 October 2008

Re: XAO Analysis

MrBurns said:
BHP and RIO have gone up, aren't the public cute ? they think they're grabbing bargains !

HAHAHAhahahahaha
oh I needed that..........

blessem

MrBurns · 9 October 2008

Re: XAO Analysis

Aussiejeff said:
Apparently, online gambling is a growth industry...

I think we need people like this though, they need to lose ALL their money so we can step in and take over the world. Come on suckers grab those bargains !!!

deadset · 9 October 2008

Re: XAO Analysis

Excellent Smithers, the wheel is in motion.

----------

"Keep selling Smithers!, lucky for me I sold my own stock short via our trust account and switched to gold months ago. The fun is only just beginning. Oh, and keep selling all the commodities while you are at it. I like to play awhile before total annihilation."

moXJO · 9 October 2008

Re: XAO Analysis

Our banks have been holding up well through this. We have not revisited their lows yet.

Sean K · 9 October 2008

Re: XAO Analysis

Anyone else have 3400 as a target?

0951 [Dow Jones] S&P/ASX 200 should test major Fibonacci support at 4281.0 (61.8% retracement of 2003-2007 rise) today after DJIA fell 2.0% and European markets fell more than 5.0% despite coordinated central bank easing. Negative market reaction shows officials are well behind the curve. Late U.S. news that Fed will inject another US$37.8 billion into AIG has pushed U.S. stock index futures down 0.4% (overnight SPI futures closed before this news came out). Another negative is news Mt Gibson (MGX.AU) says customers asked for delays of iron ore shipments due to slowing Chinese iron ore demand. Base metals prices suffered major falls overnight, so resources will be pummeled alongside financials, which should fall in line with offshore peers. Major chart support at 4281.0 looks set to break as index falls out of falling wedge pattern. Traders who have been bearish the past 12 months remain bearish, forecasting slide to 3400.0. DJIA looks headed for another 22% fall from here, so 3400.0 looks a logical prediction for S&P/ASX 200. Index last 4388.1. (DWR)

deadset · 9 October 2008

Re: XAO Analysis

Well CBA had an early $39-41 rise.

I'm getting dizzy already.

Looks like 4249 held firm a few times already this morning.

dhukka · 9 October 2008

Re: XAO Analysis

kennas said:
Anyone else have 3400 as a target?

0951 [Dow Jones] S&P/ASX 200 should test major Fibonacci support at 4281.0 (61.8% retracement of 2003-2007 rise) today after DJIA fell 2.0% and European markets fell more than 5.0% despite coordinated central bank easing. Negative market reaction shows officials are well behind the curve. Late U.S. news that Fed will inject another US$37.8 billion into AIG has pushed U.S. stock index futures down 0.4% (overnight SPI futures closed before this news came out). Another negative is news Mt Gibson (MGX.AU) says customers asked for delays of iron ore shipments due to slowing Chinese iron ore demand. Base metals prices suffered major falls overnight, so resources will be pummeled alongside financials, which should fall in line with offshore peers. Major chart support at 4281.0 looks set to break as index falls out of falling wedge pattern. Traders who have been bearish the past 12 months remain bearish, forecasting slide to 3400.0. DJIA looks headed for another 22% fall from here, so 3400.0 looks a logical prediction for S&P/ASX 200. Index last 4388.1. (DWR)

Yep, back in March I indicated a target of between 3400 - 3800. With some fo the other targets out there in the 2000's I'm starting to look like an optimist.

skyQuake · 9 October 2008

Re: XAO Analysis

Have 3300s before all this is over.

Having said that, everyone has 3000s as the downside targets? Yes? Ok Time to go long!

treefrog · 9 October 2008

Re: XAO Analysis

moXJO said:
Our banks have been holding up well through this. We have not revisited their lows yet.

not sure how you see see 4050points up over 4 years and down 3150 in the next year as 'holding up well' mo

biggles · 9 October 2008

Re: XAO Analysis

I,ve been reading Dynamic Trader and Fibonacci time extensions, says its 50% or 61.8% of previous run which would make it around 3500 as far as i can work out

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