XJO did not break up 4680 level ( double top ). So ..... the next bus stop is at 4480 ( which we may or may not see...). Have a nice trip...
Tropo, I was thinking the exact same thing. Technical buyers would be spotting the double top and starting to wonder. It will be interesting to see how it all plays out, but there was red all over the page today with it down over a percent. Good thing I'm in a "trading" fund that loves this sort of all-over-the-shop stuff. Cheers, Michael.
Yeah it sure does away with any anxiety - it goes up - great, if it goes down - great Perhaps it's the first politically correct managed fund
Michael, I was thinking the exact same thing. Technical buyers would be spotting the double top and starting to wonder. Good thinking 99 !!!!.... As the matter of fact we are talking here about almost triple top. It will be interesting to see how it all plays out, but there was red all over the page today with it down over a percent. From time to time even newspaper "gurus" are correct. Problem started approx. two days ago when some large " petrol guys " ( Hedge Funds ) converted dollars into Euros. This moved our dollar 200 points up and $ US the same amount down. If you add the bad figure on the housing in USA you'll get whole picture. Anyway....Tomorrow is an important day ( more announcements ) so ... fingers crossed.... We still might break 4680 before Christmas...who knows... Good thing I'm in a "trading" fund that loves this sort of all-over-the-shop stuff. Yep...you are right with this one !!. Keep $miling ... :cool
Tropo, Up 58 points on opening today. Are we seeing a Hound of the Baskervilles? Go you good thing! BHP is up over 2% and back above $22.00 and all in the first quarter hour! Lets hope the AJX hangs on to some of these gains for close. The Dow was up 106 points or almost a percent overnight, so looks like the local bourse is just following course... Cheers, Michael.
Michael, Well.....Hope is four letter word... It's too early to draw any conclusion. Close is important and we'll see if yesterday's sell off volume will balance today's buying frenzy... So far ...... so good.
Are there enough TA people that the start of a pattern becomes a self fulfilling prophecy? If so then it would be something handy to learn about
Simon, Well .... Old saying goes like this : " be careful what you wish for, it might come true". It all depends how many TA people see the same thing such as specific patterns etc... On the other hand trading is about psychology.There is no better tool than chart's to determine emotion of the people trading specific instrument. Self fulfilling prophecy works more often on the individual basis ( some guys/girls see what they would like to see ) That's why some of them are selling and others are buying in the same time... That is what makes Market running.
