appals Posted November 24, 2005 Share Posted November 24, 2005 Tread Carefully. XJO in Double Top mode? http://www.sharescene.com/html/emoticons/graduated.gif Link to comment Share on other sites More sharing options...
sammybrennan Posted December 13, 2005 Share Posted December 13, 2005 Anyone got an opinion on what the market might do tomorrow? Looks set to close down 18-24 pts today - could be a good opportunity to go long the index and ride it if it bounces back tomorrow.... Any comments?? Cheers Sam http://www.sharescene.com/html/emoticons/icon14.gif Link to comment Share on other sites More sharing options...
crowman28 Posted December 13, 2005 Share Posted December 13, 2005 If you follow some of my posts over at FTSE100, I am prepared to go short on the Aussie market. Trading below the 18 day moving average and is due for a secondary correction. Support at 4300 though. Link to comment Share on other sites More sharing options...
happy2 Posted December 13, 2005 Share Posted December 13, 2005 In reply to: crowman28 on Tuesday 13/12/05 01:06pm Looks like a short in the making soon. Link to comment Share on other sites More sharing options...
happy2 Posted December 13, 2005 Share Posted December 13, 2005 In reply to: happy2 on Tuesday 13/12/05 01:08pm Regarding today, Sam, see what happens at the close. 4580, or thereabouts, is the current support line. Could be a little in it today. Link to comment Share on other sites More sharing options...
sammybrennan Posted December 13, 2005 Share Posted December 13, 2005 As was suggested in FTSE100 posts, if indication is that US rates wont move higher after next 25bp increase, DOW could move higher tonight - maybe followed by ASX tomorrow morning. Also on your posts, was mention of Israel continued hostility toward Iran and therefore likleyhood of inflamed Middle East instability - hence possible increase in oil price I am going to take a punt and go long ASX this afternoon, expecting rebound tomorrow morning and then wait for an opportunity to go short in short term. Link to comment Share on other sites More sharing options...
happy2 Posted December 13, 2005 Share Posted December 13, 2005 In reply to: sammybrennan on Tuesday 13/12/05 01:20pm If you get it right sammy, she'll be a sweet return. Link to comment Share on other sites More sharing options...
crowman28 Posted December 13, 2005 Share Posted December 13, 2005 I was looking for a short around 4620 level anyway, and that opportunity happened yesterday, and I missed it. For ASX, better short into a rally is the best to deal with it. Anyway I shorted the FTSE now, so will keep me busy tonight. Link to comment Share on other sites More sharing options...
happy2 Posted December 13, 2005 Share Posted December 13, 2005 In reply to: crowman28 on Tuesday 13/12/05 02:32pm Looking at the XJO on the line chart and assessing the value of the rise in the three Elliot up waves. I note that the last wave travels 1000pts more than the first wave. This could mean that it has the fifth wave. Whatever the case, looking ominously favouring the downside. Link to comment Share on other sites More sharing options...
crowman28 Posted December 13, 2005 Share Posted December 13, 2005 If 4580 can hold, then you would go long. Otherwise the weekly chart suggests a consolidation to 4500 is definitely possible before the next wave up! This is healthy for the long term as once again it is a 50% retracement from the low in Oct. At current level, it is better value to short the FTSE perhaps? Link to comment Share on other sites More sharing options...
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