Archive | October, 2009
30 October 2009 – Bounce…but,
On the face of it a good recovery by the US overnight and some decent follow through here. However, there are 3 points of contention. The daily trend is still down regardless of todays strength. It may flick higher should price follow through to the upside on Monday and we can start looking at long [...]
Continue reading...29 October – Plunge Protection Team
30. October 2009
A big up session after GDP showed that the US economy grew for the first time in 7-months. This seemed to be the antidote for the recent pessimism. The market rallied from the get go and never paused till the close. The strength is certainly welcome, but it does not yet signal a new trend [...]
Continue reading...28 October 2009 – Ouch!
29. October 2009
The market was flogged convincingly today. It failed to show any attempt at a bounce, even a minor one. It was one way traffic. Even the Share Price Index futures failed to show its normal intra day volatility and failed to bounce in any form. A quick look through the second tier stocks does show [...]
Continue reading...28 October 2009 – Short trades now
29. October 2009
The market has now changed trend and as such we can only resort to short trades. I will await a reaction rally on low volume then look at swing trades to the downside. This may take a week to get going but there should be some good opportunities for quick swing trades.
Continue reading...28 October 2009 – Trend is DOWN
28. October 2009
The All Ordinaries daily trend is now DOWN. Today was a sharp down session on high volume, reinforcing our fears of the last week. What this means is that long trades should be avoided, existing stops on long positions should be tightened (which has been done tonight) and short positions sought. I will be rummaging [...]
Continue reading...27 October 2009 – Weakness developing
28. October 2009
The warning signs have been showing for the last week and it now appears that the market is perhaps intent on taking a deeper breather. Our expectations of this has been discussed in depth in the recent ASX-200 (XJO) review as well as the US Index reviews, namely the Dow Jones. Other markets are also [...]
Continue reading...26 October 2009 – Soggy
27. October 2009
The market remains a little soggy today, although it did manage to close well up off its lows. Weight on the market is the possibility that the RBA will raise rates by 0.50% next week. Most pundits think 0.25% but there is some speculation that more could be in store. Also, a very large section [...]
Continue reading...October 23 – Divergence widening
27. October 2009
The divergence between the Dow Industrials and Transports remains in place, in fact took on a more dire look about it after last nights action. Recent price action has also stalled the Daily Trend which has now turned FLAT and daily momentum has now turned DOWN. We’ll see what unfolds in the coming week as [...]
Continue reading...22 October 2009 – AMZN hits home run
23. October 2009
We had concerns last night about the non-confirmation by the Dow Jones Transports (refer Global Chart research) but the market shook that off for the session. It remains in place. The US market shrugged off some early bad news on the housing front and focused on the better than expected earnings by a wide diversity [...]
Continue reading...22 October 2009 – China data
23. October 2009
The weak closes over the last week have had enough strength to flip our momentum indicator all the way to the DOWN position. We’re still seeing that small coiling pattern we discussed last night but there are a few negative signs coming from the US charts that have been discussed in a little more depth. [...]
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30. October 2009
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