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Market down today ?

Discussion in 'Shares' started by Simon Hampel, 20th Nov, 2006.

  1. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    So what is everyone's analysis for why the ASX200 was down 1.8% today ?
     
  2. Tropo

    Tropo Well-Known Member

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    It seems to me that big guys are not bullish anymore….or maybe they are buying/selling T3 ! :confused:
    But we are getting divergence between XJO and DOW (bad news).
    Doji on the weekly XJO chart :rolleyes:. Support at 5210/00 (IMHO).
    :cool:
     
  3. Glebe

    Glebe Well-Known Member

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    Wow, Rio Tinto down 2.4%. Hmm...
     
  4. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Alan Kohler showed the graph on the ABC news of the XJO versus the World index and how we cought the world index but have since started falling away while its been steady. He speculated that it was investors belatedly factoring in the impact of the RBA rate rise on consumer sentiment and therefore retail earnings.

    I dunno, I reckon the ASX is starting to look a little heavy. As a counter-cyclical investor I reckon real estate is starting to seriously look more attractive, particularly oversold capitals on the Eastern Seaboard. Sydney is still my pick, though Brissie and Melbourne are also well positioned to outperform.

    Cheers,
    MW
     
  5. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    I think we'll see a couple more rate rises yet - as such, I don't think we've seen the worst of the housing market quite yet.

    That's my hope anyway :p

    I'm wanting the real estate market to be at its worst around the beginning of 2008 :D
     
  6. Tropo

    Tropo Well-Known Member

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    "I'm wanting the real estate market to be at its worst around the beginning of 2008"

    Same here ....:D :D
     
  7. Glebe

    Glebe Well-Known Member

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    Hehe same here, but I can handle late 2007.
     
  8. Tropo

    Tropo Well-Known Member

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    Same here (early/late 2007) :D :p :D
     
  9. FrankGrimes

    FrankGrimes Well-Known Member

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    Made some back today, XPJ returned 53 points!
     
  10. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Yep, and XAO up 66 points today half an hour after opening. XJO is back to 5424.

    Cheers,
    Michael.

    PS For all those 2007/08 Sydney worst property conditions wishers: You cain't always get what you want, but you get what you need! Buy now boys she'll have turned in 2007. :D
     
  11. Bob

    Bob Well-Known Member

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    [QUOTE For all those 2007/08 Sydney worst property conditions wishers: You cain't always get what you want, but you get what you need! Buy now boys she'll have turned in 2007. :D[/QUOTE]


    That old saying about no one ringing a bell when the market turns is true. I'm with you Michael

    Bob