Australian (ASX) Stock Market Forum

Re: XAO Analysis

On a technicality, it's not incorrect yet. On the contrary, so far it's correct.
Can't let the Elliott Wavers have it all their own way. As an analysis tool EW theory appears to be remarkably flexible, and quickly adaptable to changing circumstances.
 
Re: XAO Analysis

On a technicality, it's not incorrect yet. On the contrary, so far it's correct.
Can't let the Elliott Wavers have it all their own way. As an analysis tool EW theory appears to be remarkably flexible, and quickly adaptable to changing circumstances.

LOL watchout!! when i mentioned it was the best lil hindsight commentator in the market i got growled at :D
 
Re: XAO Analysis

[/QUOTE]
As a general comment I have to say that the urgency is gone, I dont feel the need to get in in case I miss the "bottom" I donr really care any more if the ASX is up or down 100 points because I know it's not going to surge anytime soon.
That to me is the first sign of acceptance that the market is rooted for the medium term at least.

Despair: The final emotion is one of despair with the bear roaring, indexes down 20%, 30% or more, and leading stocks down 40% to 70% from their highs. Our losses have increased until we sell out in despair. We forget about stocks and the market indefinitely, instead of learning from our mistakes, giving up at the worst possible time. The market is down, but it always comes back. New sectors of stocks are emerging with new leaders ready to move ahead strongly.

Chin up Mr Burns, we may be through the worst of it :)
 
Re: XAO Analysis

=nick2fish;391007]

Despair: The final emotion is one of despair with the bear roaring, indexes down 20%, 30% or more, and leading stocks down 40% to 70% from their highs. Our losses have increased until we sell out in despair. We forget about stocks and the market indefinitely, instead of learning from our mistakes, giving up at the worst possible time. The market is down, but it always comes back. New sectors of stocks are emerging with new leaders ready to move ahead strongly.

Chin up Mr Burns, we may be through the worst of it :)

It's not despair just growing indifference.

There's still a lot of cash out there waiting to go somewhere so I think we'll see spurts of overheated optimisim for a while yet but slowly it will calm down, well I hope it will, still early days I guess.

An investment unit in Port Douglas is looking more attractive every day, but once again it's too early, I'm getting sick of waiting to be honest.
 
Re: XAO Analysis

LOL wasnt you m8 :) ..i enjoy your posts actually ..... just like to have a lil poke at a bear with a sore head at times :)

Right - I try to hold back for a long as I can :) which can sometimes be a challange in this forum ;)

Grumpy ol' bear might be waking soon....
 
Re: XAO Analysis

Despair: The final emotion is one of despair with the bear roaring, indexes down 20%, 30% or more, and leading stocks down 40% to 70% from their highs. Our losses have increased until we sell out in despair. We forget about stocks and the market indefinitely, instead of learning from our mistakes, giving up at the worst possible time. The market is down, but it always comes back. New sectors of stocks are emerging with new leaders ready to move ahead strongly.

Chin up Mr Burns, we may be through the worst of it :)

Define worst!

Repeat after me: this is NOT the bottom. The index is headed lower and much time has to pass before the trend changes. Momentum trading and buy-and-hold are not good strategies at these times. Not all the bad news is factored in, and the charts can lie.

FWIW my take is that it's a good time to be stock picking, especially in key new sectors like (say) energy and gold mining, while avoiding previous hot sectors like (say) financials. And always remember: margin of safety.
 
Re: XAO Analysis

Hm how high do you think XAo will rally to before the new lows?

thx

MS

Not even sure if that setup would play out, around 3930 or the upper resistance of the trendline at E it might also get stuck in some sideways pattern for awhile or some smaller triangle forms in any event I'm expecting it to take out the lows at some point.

Bevo
 
Re: XAO Analysis

Define worst!

Repeat after me: this is NOT the bottom. The index is headed lower and much time has to pass before the trend changes. Momentum trading and buy-and-hold are not good strategies at these times. Not all the bad news is factored in, and the charts can lie.

FWIW my take is that it's a good time to be stock picking, especially in key new sectors like (say) energy and gold mining, while avoiding previous hot sectors like (say) financials. And always remember: margin of safety.

The actual entry into the bear market is my definition of worst

2008 = FTSE down 31.3%, Dow down 34%,Nikkie 42%,Hang Seng 48%

Anyway it was a lighthearted reply to a member who I respect, if it was you I wouldn't have bothered

Repeat after me "Have a NICE day" :)
 
Re: XAO Analysis

Please refer to post # 6194 if you are wondering who the clown is singing "sunshine and lollipops" along your street this morning

thankyou
 
Re: XAO Analysis

On a more serious note - what stocks did you short and are u still in?

BHP .......... covered 29.95 ......paid for loose wimmin and copious alcohol for the weekend so happy

may fall more , dunno ..

more bad news expected from the good ole US of A tonight but with this bailout hooplah i think i,ll wait until monday for another looksie at any trade positions

and yeah i think my neighbour was tempted to run me over earlier :D
 
Re: XAO Analysis

BHP .......... covered 29.95 ......paid for loose wimmin and copious alcohol for the weekend so happy

may fall more , dunno ..

more bad news expected from the good ole US of A tonight but with this bailout hooplah i think i,ll wait until monday for another looksie at any trade positions

and yeah i think my neighbour was tempted to run me over earlier :D

Ideally, I'd like to see the XAO rally one last leg (let's pick a number, say to around 3533), before reversing ;)
 
Re: XAO Analysis

I thought I'd post an Elliott Wave medium term update here (v's the EW thread) on the XAO. I've been looking mainly at the short term moves in recent weeks which may bore the longer term investors or those who don't care too much about small a-b-c corrections etc.:)
 

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Re: XAO Analysis

For what its worth i went long on 2 stocks today , expecting a small rally about here , dunno how much oomf will be behind it . ST trades only

they wasnt banks :)

as usual normal stoploss rules do apply

LOL i just looked at your chart oz wave guy :) how come me and you are aqlways goin in different directions on these short term moves :)?

oh hang on ........ we looking at different time frames , im merely trading for tommorow

other than that i totally agrre re your direction charted

by the way .thanks for the charts and analysis very intresting reading and good too see detail
 
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