Has the market bottomed?

Discussion in 'Sharemarket News & Market Analysis' started by Simon Hampel, 11th Nov, 2008.

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  1. Sacko

    Sacko Well-Known Member

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    so much for srong support at 3800, we broke that this morning :(
     
    Sacko, 13th Nov, 2008
    #21
  2. crc_error

    crc_error The Rule of 72

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    3700 is the support. and we are sitting on it now.. lets hope a double bottom is formed...

    if we break this point, then 3400 is the next stop.
     

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    crc_error, 13th Nov, 2008
    #22
  3. Sacko

    Sacko Well-Known Member

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    3400 - gulp
    I'm now sitting on the edge of my buffer - again! :eek:
     
    Sacko, 13th Nov, 2008
    #23
  4. crc_error

    crc_error The Rule of 72

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    3400 would complete the 50% correction.

    Fortunately I'm only holding OIF and IIF which I recently purchased, after their major downfall..

    but in this market, anything can happen.
     

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    crc_error, 13th Nov, 2008
    #24
  5. Tropo

    Tropo Well-Known Member

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    "3400 would complete the 50% correction.”

    Wrong !
    50% retracement level for XAO is at 4770. :rolleyes:
     
    Tropo, 13th Nov, 2008
    #25
  6. tropic

    tropic Well-Known Member

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    Now what? Closed at 3672:(
    3400 next target?
     
    tropic, 13th Nov, 2008
    #26
  7. BillV

    BillV Well-Known Member

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    I like CBA but so does everone else and it hasn't fallen enough for me to buy it. Therefore, I'd rather buy NAB
     
    BillV, 13th Nov, 2008
    #27
  8. try anything once

    try anything once Well-Known Member

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    I do not think there has ever been a time when XAO has dropped 50% from its peak? Not in Great Depression, not in 1987 crash...

    As I have said before, sure it is risky buying in this environment, but not as risky as it was to be buying 12-18 months ago!!:p
     
    try anything once, 13th Nov, 2008
    #28
  9. Tropo

    Tropo Well-Known Member

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    Tropic
    XJO closed today at 3697.3
    The last level is at 3675/80.
    IF the worst comes to the worst XJO may hit 2693 :eek:(100% retracement).
     
    Tropo, 13th Nov, 2008
    #29
  10. qqwertyuiop2000

    qqwertyuiop2000 Member

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    ....amazing 3697.3, all this has confirmed is the market is completly irrational. Weve given up on looking at fundamentals and are being lead by fear.

    What is tomorrow going to bring?
     
    qqwertyuiop2000, 13th Nov, 2008
    #30
  11. Tropo

    Tropo Well-Known Member

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    Hehe...Market is run by fear and greed (not by fundamentals).
    Fundamentals = Funnymentals. :rolleyes:
    Tomorrow ... who knows :eek: - but just in case do not leave your home without a parachute and airbags...:p
     
    Tropo, 13th Nov, 2008
    #31
  12. try anything once

    try anything once Well-Known Member

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    yep I have to agree there ..... its fear and greed in the short term,

    ...... but I think its fundamentals in the long term....
     
    try anything once, 13th Nov, 2008
    #32
  13. crc_error

    crc_error The Rule of 72

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    I think the stock market is a big casino. You will have as much luck guessing the dice next fall as what the market will do tomorrow.

    Sad to think you can invest into super for 30 years, only to have 1/2 of it wiped out just before retirement..
     
    crc_error, 13th Nov, 2008
    #33
  14. Tropo

    Tropo Well-Known Member

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    ...... but I think its fundamentals in the long term....

    I am not with you on this one.;)
     
    Tropo, 13th Nov, 2008
    #34
  15. crc_error

    crc_error The Rule of 72

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    yes, but you cant monitor fundamentals. They can change at whim.

    12 months ago BHP fundamentals were completely different to today. Doesnt mean because you choose good fundamentals that it will be a good investment.

    Basically the success of any business is its ability to sell its product or service.. you can never know which sector, and which company within that sector will grow. Forcasts are simply guess's, and mean nothing.

    You need to pick a company with good fundamentsls tomorrow, one which the market has not identified. No one can really do this
     
    crc_error, 13th Nov, 2008
    #35
  16. Chris C

    Chris C Well-Known Member

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    What fundamentals are you reading?

    The last time I lifted a newspaper (and I generally try and avoid doing so) I was reading that the world economies are still up the provebial "**** creek" with some nerdy looking politicians paddling their asses off against the flow of the river with little effect.

    What I think is a really nice touch is all these political leaders are attending big boy meetings discussing what other insignificant measures they can introduce to make people vote for them next time...

    :)

    My pick is down by another 1 - 3%

    :D
     
    Chris C, 14th Nov, 2008
    #36
  17. crc_error

    crc_error The Rule of 72

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    looks like your wrong!

    DOW up overnight
     
    crc_error, 14th Nov, 2008
    #37
  18. qqwertyuiop2000

    qqwertyuiop2000 Member

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    crc_error- market volatility at this stage means we could go anywere today....still its nice to see the US up, at least for today.

    Chris C- Long term fundamentals are there, ie continuing population growth, stable governement, fairly health corporate sector (most of the "bad boys" have gone under or are going under) with fairly good regulation and a market that has priced some serious negative news come on its 50% below were it was.

    I have to be optomistic otherwise id get depressed haha

    Stay alive today boys and avoid those margin calls ;)
     
    qqwertyuiop2000, 14th Nov, 2008
    #38
  19. perky

    perky Well-Known Member

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    perky, 14th Nov, 2008
    #39
  20. crc_error

    crc_error The Rule of 72

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    americans are just idiots.. and the world is just as stupid... lets all now buy just because the yanks feel today is 6% better than yesterday.. joke really..
     
    crc_error, 14th Nov, 2008
    #40
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