XJO - Does anyone trade it?

[DTM]

Hmmm ... chart shows possible new support level (S3) at 3965.

The LONG entry was triggered this morning ... next is retest of 61.8% Fib level at 4030.

Updated chart looks like this ...

Cheers ...

XJO hit 4030 very quickly this morning and then its dropped 50 points as I'm writing. Even the banks can't hold this one up. Reversed all my calls into puts this morning and am waiting to see how far it drops. Could be the beginning of the end.

 

[RichKid]

We're seeing a minor rally towards the end of the day but it's fallen far today. Wonder if it can recover? Looks to me like the next big drop is due this week. Look out 3900!

 

[rembrandt]

Hi DTM .. apologies ... we aren't always able to post in a timely manner ... you were correct to go SHORT.

Updated chart from another forum ... "60/40 SHORTS to hold at risk of being stopped out tomorrow".

Cheers ...

 

[RichKid]

Look out for the end of the recent years' uptrend, about to break 200 day moving average too imo. I thought it might keep fallling during the last quarter hour today but it recovered a little bit. Sure to be more profit downgrades, I still think the Dow and metal prices will have an extra impact so watch out for overnight news.

 

[DTM]

The size of today's drop suggests to me that it will continue on through tomorrow.

 

[RichKid]

The size of today's drop suggests to me that it will continue on through tomorrow.

Damn bulls spoiling our bear party, might be time to be a turncoat for a few days. Overnight weakness in S&P and general negative sentiment suggests this'll be shortlived. But it is near to bouncing off support. Trend is still down short term despite fundies trying to buy in 'cheap'.

 

[Rockon2]

Hello all;

Yes i trade the xjo.... Although mostley do day trade.

Cant keep my hands of $$ on the table .

Did well today . went long last night and exited today .. see tick chart.

 

[DTM]

Rockon dude....You're on fire!!!

Welcome to the forum and look forward to your posts.

 

[Rockon2]

Bit rough. chart that is..

keep trying .

 

[RichKid]

Rock On, good try with the chart, almost there. I've just had to do the same. PM me and I'll send you instructions. First find the file for the image on your computer and then open it via paint. It's quite easy from there.
Look forward to more of your charts once you get it going, nice breakout there in the chart you posted.

 

[DTM]

Rock On, good try with the chart, almost there. I've just had to do the same. PM me and I'll send you instructions. First find the file for the image on your computer and then open it via paint. It's quite easy from there.
Look forward to more of your charts once you get it going, nice breakout there in the chart you posted.

Rich, could you send me that message too please?

Thanks in advance.

 

[RichKid]

Rich, could you send me that message too please?

Thanks in advance.

Hi DTM,
No sweat (once I work backwards to remember it)- I'll post it in a new thread in the beginners forum: https://www.aussiestockforums.com/forums/showthread.php?p=12733#post12733

Okay, back to the XJO, I'll delete these last two posts once Red sees the msg. Red- my new thread is probably more accurate than the instructions in my last post.

 

[Rockon2]

Gday Richkid, Thanks very much for the welcome.
I certainly will pm you for instructions on pasting charts, ( monday Possibly)
I seem to run into all sorts of probs,, :swear:

I can get it into paint ok, but dont seem to be able to rezise it ? . and I keep forgetting which format to save it as.

Anyway a few more tries, and with your help, i should get there.

Thanks for your welcome DTM

Yes!!! what a cute Avitar.. I pinched it of someone else in cyberspace.
every time i see it, i have to smile. Whoever made it did a great job.

This Forum came as a recco by Mofra, whom i chat with a fair bit at Commsuc.. I also recognise a few other names as well.

P.S. Richkid, I just went and found your post on copy and editing charts from pro trader ( found in the Beginers Lounge section )....So I'll follow your instructions

Ok nuff for now... Oh And I see the Dow was flat overnight, looks to be consolidating at these levels. Be a quiet monday methinks... Cheers .

 

[Mofra]

This Forum came as a recco by Mofra, whom i chat with a fair bit at Commsuc.. I also recognise a few other names as well.

Better behave now Rock, otherwise I'll be copping it

 

[rembrandt]

Those LONG will be nicely green ... finger on the trigger to take profits.

Trailing stop at 4085 (red indicator)

Cheers ... tight stops.

 

[Smurf1976]

Those LONG will be nicely green ... finger on the trigger to take profits.

Trailing stop at 4085 (red indicator)

Cheers ... tight stops.

We seem to have gone through the various resistance levels on this chart. So are we now headed for a retest of the all time high???

The Dow was down on Friday night (our time) but then there have been quite a few times recently when moderate falls in the Dow were followed by decent rises on the ASX.

Any thoughts/opinions?

 

[rembrandt]

Those who held LONG will be swimming in mega green ... finger on the trigger to take profits.

Trailing stop at 4194 (red indicator).

Cheers ...

 

[wayneL]

Those who held LONG will be swimming in mega green ... finger on the trigger to take profits.

Trailing stop at 4194 (red indicator).

Cheers ...

NICE!

I notice that these are not SPI charts. Are you trading this with options? What strategies etc?

This looks like fun, I might do something similar on the "cubes" (QQQQ)

QQQQ = an exchange traded fund that tracks the NASDAQ composite (for those who are unfamiliar)

Cheers

 

[RichKid]

Not sure about RS but I trade it via options and warrants (options only atm), trying to find a good price but a bit confused as I found some odd numbers via fair value calculator vs mm price. Trying to figure it out in terms of greeks etc but not clear yet. I might post a new thread on the options in question in the Derivatives forum- maybe Wayne, Pos and the other options traders can make sense of it for me. I'm waiting for a strong reversal signal to short it.

 

[RichKid]

Like the XAO for this one, a nice big bullish candle, tearing away at the end of the day- an impulse bar like with the XAO? Let's see if those metal prices and gold, oil etc carry on with it because if they do then our resource stocks will prop up this market for awhile. Not sure if this deserves to be called a broad based rally. I'm still looking for shorts unless it establishes support at the previous high. Any views?