XAO Technical Analysis

roland · 24 October 2007

Re: XAO Analysis

CanOz said:
What devaluation are you referring to, the USD?

Cheers,

I have a feeling that the emerging world benchmark will be based on the Euro, the US is losing it's appeal as current benchmark due to percieved lack of physical liquid security for the greenback

dhukka · 24 October 2007

Re: XAO Analysis

MER results out. Writedowns of $7.9 billion, remember they flagged writedowns of only $5.0 billion a few weeks ago. Loss per share of -$2.85 against analyst expectations of a loss of -$0.45. It's going to ugly for MER today .

sassa · 24 October 2007

Re: XAO Analysis

dhukka said:
MER results out. Writedowns of $7.9 billion, remember they flagged writedowns of only $5.0 billion a few weeks ago. Loss per share of -$2.85 against analyst expectations of a loss of -$0.45. It's going to ugly for MER today .

And not only MER.

trendsta · 24 October 2007

Re: XAO Analysis

sassa said:
And not only MER.

who else??

sassa · 24 October 2007

Re: XAO Analysis

trendsta said:
who else??

The other financials.Countrywide could be significant as it is expected to report a $1B-$2B loss on Friday for the Quarter.

Kauri · 24 October 2007

Re: XAO Analysis

after news reports that Merrill Lynch is going to release another multi-billion revision in the value of its sub-prime portfolio when it releases results this AM. When the results were released the actual write down of $7.9bn from the original $4.5bn exceeded expectations but not fears ($10bn), and earnings in ongoing operations did better than expected, the actual EPS loss was lower than expected. This has left equity markets in slightly better shape heading into the US session.

I guess it's all down to the existing home sales in a couple of hours now..
Cheers
............Kauri

SevenFX · 25 October 2007

Re: XAO Analysis

sassa said:
It reminded me of an old hotel broker friend of mine."If you're going to buy a hotel,don't buy one that is a succes.Get one that needs building up.You buy it cheap and enjoy the windfall when you sell it."

As long as the research for it being cheap, is based on bad management, etc, etc, hence not bad positioning...

The Old "Worst House in the best Street..." Theory (PPP) as you can always change the house but you can't change the street (can you)

SevenFX

nizar · 25 October 2007

Re: XAO Analysis

Nice Recovery on the DOW.
Looks like a reversal to me.

qr2007 · 25 October 2007

Re: XAO Analysis

SAN FRANCISCO (MarketWatch) -- Asian financial stocks may fall on Thursday after Mizuho Financial Group booked losses related to U.S. subprime mortgages, and shares of Merrill Lynch & Co. dropped to a two-year low in Wednesday's U.S. trading.

http://www.marketwatch.com/news/sto...813-40FD-43B7-85AA-8A1CE1695CD9}&siteid=yhoof

U.S. "undoubtedly in recession": Jim Rogers

http://biz.yahoo.com/rb/071024/investment_rogers.html?.v=3

Any comments ????? Pls....

Whiskers · 25 October 2007

Re: XAO Analysis

What a hairy start today! Down, up, down up...

One gets the feeling that once the market decides which way to go, it want's to get there fast.

SevenFX · 25 October 2007

Re: XAO Analysis

Whiskers said:
What a hairy start today! Down, up, down up...

One gets the feeling that once the market decides which way to go, it want's to get there fast.

Yes choppy start again...

It seems to be bouncing between a 50 & 61.8% retracements of yesterdays highs lows and having tested the 61.8% a retest may help to set its direction.

Though the overall retracement from the August lows doesn't seems to be showing much weakness atm.

EDIT: TIS also swinging pendilium like either side of 6647 being todays daily pivot.

SevenFX

dj_420 · 25 October 2007

Re: XAO Analysis

nizar said:
Nice Recovery on the DOW.
Looks like a reversal to me.

Rumour is FED is going to open the rate window a little more.

I was actually looking to go long on the Dow last night, it got too late however with uni assignments due this morning and I missed the big reversal

nizar · 25 October 2007

Re: XAO Analysis

dj_420 said:
Rumour is FED is going to open the rate window a little more.

I was actually looking to go long on the Dow last night, it got too late however with uni assignments due this morning and I missed the big reversal

You still got assignments due?
Thats unlucky, just exams for me (which is not much better), next week!

You would've made good money on that long even if it was just a few contracts.

sassa · 25 October 2007

Re: XAO Analysis

nizar said:
Nice Recovery on the DOW.
Looks like a reversal to me.

Everybody shortenin',shortenin',shortenin'.(My apologies to the songwriter)

Captain_Chaza · 25 October 2007

Re: XAO Analysis

Talk about Rotten Luck

Here we go Between a Rock and a Hard Place again

dj_420 · 25 October 2007

Re: XAO Analysis

nizar said:
You still got assignments due?
Thats unlucky, just exams for me (which is not much better), next week!

You would've made good money on that long even if it was just a few contracts.

Lol, yeah last assignments were done today, still exams to go.

Only learning indices and futures trading at the moment. I like the short term aspect at the moment considering how the rest of the actual markets look.

Whiskers · 25 October 2007

Re: XAO Analysis

Captain_Chaza said:
Talk about Rotten Luck

Here we go Between a Rock and a Hard Place again

Yeah, that's the feeling I was getting late this morning, I'm not much into charting the indicies yet, but I'm starting to get the drift a bit from what all you regular guys and gals are posting.

SevenFX · 26 October 2007

Re: XAO Analysis

Captain_Chaza said:
Talk about Rotten Luck

Here we go Between a Rock and a Hard Place again

You could always Trade the range CC, and IMO if it breaks the 6700 mark there could be more upside give it gets through S2 at 6732

Or the downside to this channel could see us around the 6400-6300 mark

SevenFX

SevenFX · 26 October 2007

Re: XAO Analysis

Insto's and Traders must be havin a real long Lunch this FRIDAY...:

Whiskers · 26 October 2007

Re: XAO Analysis

Well... we are holding above 6700, the Hang Seng has hit new highs and the Nikki is kicking on.

Looking Good or about to burst a bubble.

'Expectations for rate cuts in the US is the major driver that's pushing the Hong Kong market higher,' said Castor Pang, strategist at Sun Hung Kai Financial.

At 10:35 am (0235 GMT), the Hang Seng Index was up 310.80 points or 1 percent at 30,160.11, after hitting an all-time high of 30,320.06.
http://www.forbes.com/markets/feeds/afx/2007/10/25/afx4265339.html

XAO Technical Analysis

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