Bernhard hickey now on nat radio
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Bernhard hickey now on nat radio
NZ GDP slows down, only 0.3% for the first quarter. The expected figure is 0.6%.
China PMI data lower than May and in some financial trouble now.
Look at Singapore, Phillipine, Thai, Korea, HK, Indonesi, horrible day, Euro and America Zone also blue
Im thick what do guys mean...ZB...Hosking ..never have listened (apart from Vietch and Decker)...after I heard that tosser (Hosking) defended Hotchin and L Armstrong.
You must be young and love ads....cheers...
Hi Cool Bear
If a chartist is a Dow theory purist then the lines are drawn at closing day prices.
However modern technology has given us minute 5 minutes 15 minutes hourly daily monthly pricing ..so nowadays charting has to be treated differently with the differing timeframes....Long term stuff I still use closing prices...sometimes weekly prices shows a better picture... but for medium to short term stuff I find that using candlesticks is the way to go adding logical intraday pricing and Gaps into the mix. Gaps are very powerful support and Resistance points.
I say logical intraday...sometimes you get the flash when someone "fatfingers" an order. ..Also TA doesn't work that well with illiquid stocks and intraday pricing can be bizarre for example when the sell time period arrives and you've still got say 100 shares left out of a 20000 sell order so you quit those at a much lower price as there are no buyers within coooeee of the market price just so to complete that 20000 sell order.
An interesting debate emerged among chartists in early August 2011 (I think from memory) when MR Market had a mental breakdown and a flash crash appeared the question was do we include that as a point or do we ignore it...Some said yes some said no and some sat on the fence I was a fence sitter :mellow: as I had no idea.......With hindsight it is now added.... as spooky as it seems now it formed a point on the primary uptrend line with the Xmas 2011 bottom when that bull market correction occurred....
[QUOTE=bull....;413064]i wouldnt be surprised to see another big fall in the dow tonight or fri night , asx could hit new lows next week[/QUOTE
yuk it was bigger than i thought