XJO - Does anyone trade it?

Re: All Ords - Do you feel Bullish or Bearish?

Porper said:

The facts don't lie.The Dow is within a whisker of all time highs, and where is the ASX ? If the Dow corrects I get the feeling we could tank fairly heavily.

The contrary opinion of course is that we are waiting for the Dow to make new highs and the ASX will play catch up.Doesn't seem that way to me.

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Yeah, but the ASX has gone up over 20% each year for the past three. What's the DJ done? Sideways I think? I'm actually happy with sideways atm. If it went up another 20% this FY, then we'd be looking at crash material.

Re: All Ords - Do you feel Bullish or Bearish?

The ASX is now virtually a proxy for the energy/metals sectors in the commodities market... it is certainly viewed that way overseas.

You could trade Energy and Metal futures and you would be almost 100% correlated to the ASX. (Well pretty close anyway)

The flip side, is that is that an analysis of said commodities is necessary to get a window into the ASX as a whole.

There is much talk of the commodity boom being over (actually the boom was only ever in the two sectors above plus sugar) I think it's over for a while yet, but would not be surpised to see it pick up again *after* the imminent recession.

So my view(guess) is a deep retracement after some sideways fluffing around for a few months.

Re: All Ords - Do you feel Bullish or Bearish?

Porper said:

Looks bearish now.If my charts are correct regarding volume today, then I think we are in trouble, at least short term.

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Volume was artiificially punped today by men in black trying to manipulate SPI expiry. Happens every quarter.


ice