Archive | December, 2009
Christmas Break
We’ll be taking some time off to recharge the batteries. We’ll return on January 4th to see what the market has in store for us in 2010.
Continue reading...10 December 2009 – Winding down
10. December 2009
Another garbage performance by the local market. It really struggled to hold its head above water and it certainly appears that seasonal strength is wilting. I now have 1 position left in the ASX Power Setups and two positions left in the US Power Setups that I will be closing tonight. Once the ASX position [...]
Continue reading...9 December 2009 – Santa rally needs to start right now
9. December 2009
The key level we’re watching at present is 4587. A break down through that suggests a deeper correction toward 4400 is underway. However, if price can hold above 4587 we have a significant bullish triangle to contend with that may provide the springboard into the New Year. We’ll take a closer look at this in [...]
Continue reading...8 December 2009 – Weak, but quiet
9. December 2009
The market dropped 100-pts right on the opening bell and then stayed in a sideways band. It certainly appears that the sideways ranging is going to continue, albeit we still retain a positive interest in the broader indices strength. The Transports have broken up and out of the resistance and whilst they were weak last [...]
Continue reading...8 December 2009 – Symmetrical triangle still forming
8. December 2009
It’s all red here. The daily trend. The weekly trend. And daily momentum. The only saving grace is that price is stuck in a coiling symmetrical pattern that could lead to a upside breakout toward 5200. A break down through 4600 will be a very negative signal but if we can hold up above that [...]
Continue reading...7 December 2009 – A soggy day, but…
7. December 2009
We called for some volatility after the US data release and we certainly got it. A very weak day for the ASX with resources taking the lead lower. There is a lot of speculation about the US$ direction now. The ASX is coiling in a nice symmetrical triangle pattern and by all account an upside [...]
Continue reading...4 December 2009 – Higher into Xmas?
5. December 2009
It was suggested that last nights session would be a market mover – and we weren’t disappointed. Unemployment dropped sending the market dramatically higher but a bid also came into the US Dollar sending stocks lower again and pummeling Gold. Stocks dropped several hundred points from the intra day high before recovering to finish slightly [...]
Continue reading...4 December 2009 – Slapped down
5. December 2009
Another Friday – another bad day. What is it with Fridays? If you’re wondering why its so hard at present, take a moment to consider that the market is net +7pts since September 17 – that’s 78 calendar days or 55 market days of basically trading sideways. No wonder false breakouts are rife. Is there [...]
Continue reading...3 December 2009 – Consolidating
3. December 2009
A quiet day whilst the market awaits Friday employment data out of the US. I have added a few more long trades but caution is still required until the Dow Transports break up and through resistance. There are also a few short trades around for those interested, but as they’re against the trend I won’t [...]
Continue reading...2 December 2009 – Employment data looming
3. December 2009
A quiet range bound session that on the surface doesn’t mean a great deal. However, the key Transports index rose again to be very close to the important line of resistance. The fact that the index rose without support of the Dow Industrials could well be signaling that a break higher is nearby. US employment [...]
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15. December 2009
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