Oh yes. The ASX is quite clearly in a caution period, it's pretty close to the long term indicators at the moment.
Printable View
Liz, here is the Aus equivalent of the NZSX chart, as at 3.30 pm.
http://h1.ripway.com/Phaedrus/AllOrds815.gif
next stop 5000
Uptrend not broken yet Ratkin.
Thanks Phaedrus. Today has been a shocker. Not so much in terms of the index, but in terms of some of the more illiquid small caps where forced sales have spiralled into "low bid" black hole. Plenty of stops triggered today... but do I REALLY have to sell when the bids are 30% lower and the results to prove I bought a winner are just around the corner?
I just looked at the index for the Asian crisis - NZ Herald Index I think it was - early 1997 till late 1998 went from around 2600 to around 1700. At the time it didn't matter to me much - I could just hoard more savings and ride it out. Now, I am 10 years, 3 children and minus one income older...
boring chart question phaedrus, i have metastock 9 how do you chart trailing stops?
A MetaStock formula for a very simple fixed percentage trailing stop is :-
HHV(C,xxx)*.9
where xxx is the look-back period and 0.9 is a 10% stop. 0.85 would give a 15% stop for example. Just set this up as a new indicator using the "Indicator Builder" function.
A technically superior trailing stop can be based on the stocks Average True Range. You can get all the info you need about ATR trailing stops at :- http://www.tradernexus.com/advanceds...ancedstop.html
thanks p, i really appreciate your posts
Good charts pheadrus - thanks
Fall on Wall St last night, so the NZSX50 5 year uptrend line may be tested today.
What are the TA investors going to do today if that line is breached??