Archive | January, 2010
Jan 27 2010
Weekly Trend: __ Down Daily Trend: Down Daily Momentum: Down Price is currently in no-mans land. The downtrend is not firmly established yet and we feel the best action is to await a low volume bounce from which to find shorting opportunities. There are a few stocks worthy of brief bounces that could offer trades [...]
Continue reading...Jan 27 2010
27. January 2010
Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Down Damage inflicted on the ASX came from two sources today; namely yesterdays weakness in the Chinese markets and today via the stronger than expected inflation data with rumour that the RBA will yet again raise rates. The currency firmed on back of this speculation but [...]
Continue reading...Jan 26 2010
27. January 2010
Weekly Trend: __ Down Daily Trend: Down Daily Momentum: Down The market tried to trade higher but was dragged down into the close. Very weak price action and further confirmation that the trend has turned south. We will only be looking at short positions until this trend position changes again. We will be focusing on [...]
Continue reading...Jan 25 2010
25. January 2010
Weekly Trend: Down Daily Trend: Down Daily Momentum: ___ Down We had no Discretionary positions going into todays weakness. I will say one thing – the market performed admirably today. So much so I will be taking a close look at the ASX-200 (XJO) again tonight in the Chart Research area and making some comments [...]
Continue reading...Jan 22 2010
23. January 2010
Weekly Trend: __ Up Daily Trend: Down Daily Momentum: Down Downside follow through on heavy volume suggests that we’ve got a lot further to travel. With the daily trend now down we should only be looking at short positions over the coming weeks. We’ll be scouring the charts for opportunities in the next few days [...]
Continue reading...Jan 22 2010
22. January 2010
Weekly Trend: Up Daily Trend: Down Daily Momentum: ___ Down The daily trend turned down today and the weekly very nearly did as well. Another down day through todays lows will turn that negative as well. As a result our trailing stops will be aggressively moved higher and new signals will be halted. If the [...]
Continue reading...Jan 21 2010
21. January 2010
Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Down The daily and weekly trends as determined by our trend filters remain up. The Elliott Wave count remains up. We continue to make higher highs and higher lows, traditionally suggesting the trend is up. We have a bullish flag sitting on support which, more often [...]
Continue reading...Jan 20 2010
21. January 2010
Weekly Trend: __ Up Daily Trend: Up Daily Momentum: Flat The news out of China coupled with earnings season saw the market give back all of yesterdays gains and some. At one stage the market was -200 but clawed back a little into the close. We’ll be taking a closer look at some of the [...]
Continue reading...Jan 20 2010
20. January 2010
Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Down Chinese banking authorities have instructed some major banks to halt their lending during the rest of January because of imminent inflationary pressures. This comes not long after the Central bank quietly raised interest rates but todays action took the bullish steam out of the local [...]
Continue reading...Jan 19 2010
19. January 2010
Weekly Trend: Up Daily Trend: Up Daily Momentum: ___ Down Broker excuse #23 “Profit Taking” explains todays weakness. Maybe. There was no lead from the US last night due to a public holiday but US earnings have started flowing through and many are concerned about the banking sector. We’re staying with current positions and managing [...]
Continue reading...
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28. January 2010
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