XAO Technical Analysis

MRC & Co · 18 August 2009

Re: XAO Analysis

So who was selling off all those better than expected figures......traders?

I would think insto trading would be more likely to be dumping into strength.

Re-test of 990 tonight before coming off further.............

ThingyMajiggy · 18 August 2009

Re: XAO Analysis

MRC & Co said:
I would think insto trading would be more likely to be dumping into strength.

Re-test of 990 tonight before coming off further.............

Agree with this, dump in strength, buy in weakness.

white_goodman · 18 August 2009

Re: XAO Analysis

all i know is from what im reading on COT data and market correlations, its due for a bit of a dive

skyQuake · 18 August 2009

Re: XAO Analysis

Sorry, meant this recent dip and the past few days. Sales & trading desks been pretty quiet with no big orders either way.

MRC & Co · 19 August 2009

Re: XAO Analysis

skyQuake said:
Sorry, meant this recent dip and the past few days. Sales & trading desks been pretty quiet with no big orders either way.

Interesting Quake.

The markets do look very confused to me at this point. I'm tentatively bearish, but may flip that as of Thursday.

Dark1975 · 19 August 2009

Re: XAO Analysis

Not much volume in the market today.For e.g BHP at present time has traded $173m(where at this time in a general market bhp is trading around 280m-330m).Looks like alot of traders are not convinced with low volume trading on the dow last night.
I personally sold alot of stock today (profit taking).Not quite sure to know if the market is consolidating for a new leg up or down.Im personally not confident in the market at the moment,I might take the profits i have made and hold out for a few days for a clearer picture.

Aussiest · 19 August 2009

Re: XAO Analysis

Dark1975 said:
I personally sold alot of stock today (profit taking).Not quite sure to know if the market is consolidating for a new leg up or down.Im personally not confident in the market at the moment,I might take the profits i have made and hold out for a few days for a clearer picture.

It's a tough one. One one hand, it's there for the taking, on the other, wouldn't want to miss a leg up. I'm holding out for the EOD...

Dark1975 · 19 August 2009

Re: XAO Analysis

Wow panic has set in at the end of trading,alot of selling,Seems not ALOT of confidence in the market at the moment.
And if the dow tanks tonight,there will be a massive pullback tomorrow,Seems to me the correction is taking place now.

Real1ty · 19 August 2009

Re: XAO Analysis

Dark1975 said:
Wow panic has set in at the end of trading,alot of selling,Seems not ALOT of confidence in the market at the moment.

You are kidding right?

Dark1975 · 19 August 2009

Re: XAO Analysis

Real1ty said:
You are kidding right?

No why? For e.g: I never seen BSL drop so quickly,Im watching the graphs of BSL/RIO/XAO with (MACD,relative strength,stochastic slow)And the down wards selling reminds me of the march lows!

Broadway · 19 August 2009

Re: XAO Analysis

MRC & Co said:
So who was selling off all those better than expected figures......traders?

I would think insto trading would be more likely to be dumping into strength.

Re-test of 990 tonight before coming off further.............

990 right on cue. New lower high in the ES.

First support at 982-3. Just hit, we'll see if she holds. spi about 4335.

Real1ty · 19 August 2009

Re: XAO Analysis

Dark1975 said:
No why? For e.g: I never seen BSL drop so quickly,im watching the graphs on BSL/RIO/XAO with (MACD,relative strength,stochastic slow)And the down wards selling reminds me of the march lows!

No offense mate but if you think that is panic and a lot of selling, you obviously haven't been in the market for very long.

beamstas · 19 August 2009

Re: XAO Analysis

Dark1975 said:
No why? For e.g: I never seen BSL drop so quickly,im watching the graphs on BSL/RIO/XAO with (MACD,relative strength,stochastic slow)And the down wards selling reminds me of the march lows!

Lol what a legend

Aussiest · 19 August 2009

Re: XAO Analysis

Real1ty said:
No offense mate but if you think that is panic and a lot of selling, you obviously haven't been in the market for very long.

Then, how would you describe the sell off then Real1ty?

Today wasn't panic, but a bit of profit taking i guess.

Gordon Gekko · 19 August 2009

Re: XAO Analysis

Anyone know how china's (our great hope) market is fairing today?

Should be an interesting 24 hours!

Aussiest · 19 August 2009

Re: XAO Analysis

Gordon Gekko said:
Should be an interesting 24 hours!

This is true. Heaps of ec. data out in US tonight, + Westpac L/Index and RBA stuff in Aus. Not sure how much weight Aus stuff will play...

moXJO · 19 August 2009

Re: XAO Analysis

Gordon Gekko said:
Anyone know how china's (our great hope) market is fairing today?

Should be an interesting 24 hours!

Actually posted this in another thread but might be interesting. I think China market has been factoring it in the last few weeks

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=3105309D-1871-E587-E170AAF536C0E7EB

Recent economic growth data show the massive fiscal stimulus program instigated by the Chinese Government has provided a boost to the Chinese economy, especially in the six months to the end of the March quarter this year, but in the view of Standard Chartered there are now signs this boost is quickly fading.

This coincides with the Ministry of Finance dialing back on its monetary policy settings, making what it describes as a "moderate adjustment" without providing much detail on what this actually means. Given concerns it could mean something along the lines of increasing the deposit reserve requirement for banks or even an increase in interest rates, shares in China have sold off heavily in recent weeks.

Dark1975 · 19 August 2009

Re: XAO Analysis

Real1ty said:
No offense mate but if you think that is panic and a lot of selling, you obviously haven't been in the market for very long.

No offense taken :
Actually been trading for six years. You looking for large selling volume from fund managers(sheep).?Cause if you waiting on large scale selling from fund managers,Well generally it's to late.The sheep only follow once a criteria of buy/sell signal hits.
Explains why our fund managers done so well for everybody this Financial year.:I'm glad im not relying on my super for retirement.

skc · 19 August 2009

Re: XAO Analysis

moXJO said:
Actually posted this in another thread but might be interesting. I think China market has been factoring it in the last few weeks

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=3105309D-1871-E587-E170AAF536C0E7EB

Thump! That was the sound of chinese market on the afternoon open.

Sold 50% of my holdings today and yesterday... No new long trade for me until the Shanghai finds some support...

moXJO · 19 August 2009

Re: XAO Analysis

skc said:
Thump! That was the sound of chinese market on the afternoon open.

Sold 50% of my holdings today and yesterday... No new long trade for me until the Shanghai finds some support...

Yes I'm all out at the moment- except for a leftover, light long posi on the dow. Staying up late is burning my eyes out.

XAO Technical Analysis

MRC & Co

ThingyMajiggy

white_goodman

BOC

skyQuake

MRC & Co

Dark1975

Aussiest

Dark1975

Real1ty

Dark1975

Broadway

Real1ty

beamstas

Aussiest

Gordon Gekko

Aussiest

moXJO

menace to society

Dark1975

skc

Goldmember

moXJO

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