Now the world (or at least Europe) solved all its problems (yeah right) the markets will be on fire again
That 5000 for the All Ords by Cristmas a sure thing now .... and most boats rise on rising tide ....
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Now the world (or at least Europe) solved all its problems (yeah right) the markets will be on fire again
That 5000 for the All Ords by Cristmas a sure thing now .... and most boats rise on rising tide ....
Yesterday MSI turned green for the first time since April and this change of trend is a clear buy signal.
Link to full size pic: http://iforce.co.nz/i/1h1cxrjr.ywg.jpg
http://iforce.co.nz/i/1h1cxrjr.ywg.jpg
You're welcome :)
Copper has absolutely dominated overnight:
http://finviz.com/fut_chart.ashx?t=HG&cot=085692&p=d1
"Copper has absolutely dominated overnight:"
Hi Trackers, should be positive for YTC amongst others.
Afternoon folks,
Well, what a day hey, and lookie where we closed today. Yep, right back at support again.
Seems like the XAO has traded in the upper range for the past few weeks or so and not entered into the lower part of the range until as mentioned above, closing on support.
Dow futures currently showing a bit of green as is the UK's FTSE although Germany's DAX is red as hamburger meat.
Will post a chart later on tonight showing the EOD XAO chart to clarify the close for those that enjoy the banter.
Hi Trackers
How did you get the current graph for the "Phradeus Market Strength Indicator".
I got cold feet a few weeks ago and sold most of my oil and gas shares. Currently still hanging in with BOW.
Although I find the European debt problems worrying, what got me was the picture in Time Magazine of hundreds of completed empty apartment blocks in China.
Worried that we could get a property bubble in China. However looking at Phradeus graph the market does not seem to worry.
Evening folks,
Sorry for the late post with the chart, but better late than never so as below, here is yesterdays All Ords chart.
XAO daily & weekly > http://www.imageurlhost.com/images/p...c_All-Ords.png
As you can see on the above chart, price sits or closed right on support at 4,251x
Also it appears the US like their Job reports and currently has moved into the Green, as is, partially FTSE and DAX also green.
The daily shows the XAO like its due for a downturn, however it could tread water again until some more direction or negative press effects it, so we can expect some bouncing and breaking of the infamous 4,252 zone (again).
Well, that's enough babble for now so catch you all tomorrow.
Cheers~!
Hey kiwiwim long time no see.. Over a period of posts (plus a couple of PM's) Phaedrus pretty much provided the metrics he used for the MSI indicator... I use the same charting programme he does (Metastock) so I've created the formula + the behind the scenes stuff (expert advisor) and apply it to the All ords chart (amongst others) to keep it running. So its my chart, my data, with his indicator overlaid
Note I don't claim that its exactly the same, but the differences are more or less negligable.
I'm a bit worried about world growth too, but I think that a cooldown in Europe and China is already factored in with interest into the ASX in particular
Worry is an emotion..and "Emotion kills"
Replace worry with caution because that is where we are at with the ALLORDS atm.
Optimism is also an emotion and with one little rally the excited longer term investor jumps in trying to catch the perceived bottom forgeting that the AllOrds is still a Bear market.
Investing in bear markets requires a different set of Strategies to that of a Bull Market... the safest medium/long term investing strategy is to stay out...Phaedrus MSI is set up especially with the medium to long term investor in mind. Short and very short term investors would not use his indicator.
Before getting carried away with this volatile market (a bear market trait) and Phaedrus MSI showing a hint of green, have a look here POST #70 on this thread
You will notice on Phaedrus chart that in the early stages of a Bear market 2008 there was a convincing sucker rally (corrections) enough to turn the MSI green but only for a brief time.
Phaedrus MSI works as long as you adhere to its principles when The MSI goes from green to red buying is strictly prohibited and all sell signals immediately acted upon...Hands up those who do this:t_up:
Disc 20% stocks ...80% cash...Would be better of if I had been 100% cash