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ASX200 approaching 5500

Discussion in 'Shares' started by Simon Hampel, 7th Nov, 2006.

  1. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    With today's close at 5,494.40, we're getting rather close to 5500.

    Anyone care to offer their suggestions on where to from here for the market ?
     
  2. Tropo

    Tropo Well-Known Member

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    In my view XJO may still go up as the up trend is still reasonably strong and it may hit 5570; 5595; 5650 levels, but it has to break and close above 5500 first.
    Play safe as you never know what Market is going to do in the future.
    :cool:
     
  3. gad

    gad Well-Known Member

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    Yep. Up & down :D
     
  4. Glebe

    Glebe Well-Known Member

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    No idea from here, but today was a very good day indeed. When you hear the Dow Jones rising over 100 points on your drive into work, you know it's going to be a profitable day :)
     
  5. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Hi Guys,

    It looks like its nearing the top of the trading range it has established since the bottom back in early 2003. It either breaks that range or falls back a bit. If you were going to trade the index, now wouldn't be a bad time to trade out for a while. Where's Perky and his DCT of the DCT Navra fund when you need him? :D

    Cheers,
    Michael.
     

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  6. Tropo

    Tropo Well-Known Member

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    Michael,

    5500 level has no technical significance at all.
    It’s purely psychological barrier (round number).
    As long as XJO stays above 5210 do not worry too much.
    :cool:
     
  7. perky

    perky Well-Known Member

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    I havn't been around a lot lately, due to a new job and lack of time nowadays to go through the forums.

    My opinion - 5406 is a barrier, going on 200 day ma's. So today was not a good day considering how well the Dow has gone in the last week or so.
    If the ASX200 continues below this for too long, then weakness may return.
    Strange, when usually Nov/Dec are most often the best months of the year (esp compared to October - which this year went much better than expected).

    But I dont think I will be doing a DCT on the Navra fund this time around, It has underperformed by a fair bit - which means it should overperfom again like what happened in May when the market corrected some 10% - and Navra only went back some 4%.

    I have kept my US funds too....was very tempted to sell but decided not to. Now if that exchange rate can improve :rolleyes:
     
  8. Tropo

    Tropo Well-Known Member

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    "Strange, when usually Nov/Dec are most often the best months of the year (esp compared to October - which this year went much better than expected)".

    October is one of the peculiarly dangerous months to speculate in stocks.
    The others are January, July, September, April, November, May, March, June, December, August and February.
    Mark Twain - 1894. :p