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Junior Member
Looks like it is still within the 17% line
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Originally Posted by lodger
Looks like it is still within the 17% line
Pretty much right on it. The Index continues to sneak along the sideline. If we keep predicting a correction, sooner or later we will be right, you mark my words!
Originally Posted by belgarion
So the pattern is broken as we've passed through the 3238?
It would appear so, Belg. Of course, I never really believed..... Trouble is, the house is so full of tinned food, bottled water and sacks of rice that there is hardly any room to move. Not to mention the Krugerrands and stocks of ammunition.
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Self fulfilling prophecy
Another lurker delurking here Phaedrus.
While I wouldn't dare argue the more technical aspects of these index patterns, it appears pretty obvious that if most large investors/fund managers etc apply these principles when a trigger point is reached away she will go and become a self fulfilling prophecy.
I'm neither of the above and don't much envy their job of moving enormous amounts of funds around. It's a hell of a lot easier to sit on the sidelines and cherry pick with smaller amounts and hopefully pick stocks that won't necessarily be effected by the correction.
By the way has anyone thought what sector of the index might lead such a correction? In the old days you would have started with Telecom but I don't think that applies anymore. Financial? Resources? or more general?
The TA tips have been much appreciated thank you and have greatly enhanced my stock selections.
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Junior Member
Phaedrus, is it too soon for an update on the chart? My feeling is that it's still tracking scarily close to plan.
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Member
Hi folks
Interesting thread, first time reading it, some points to make.
I follow the indexes on cmc and re yr bull market 10% correction,
there are conflicting facts to ponder.
Aus200 was down 8.2% from its high of mid Oct.
Dax down 10.88%, but US30 only down 3.9%.
Markets up this morning as I write and wondering if this is the next
leg up to possible targets of over 5,300 Aus, 11,500 US, and
7,000 Dax. This would imply a target for NZX of about 3,700.
From the start of this bull run in March, indexes have corrected
back close to their uptrend support line, altho Dax actually
went below it this week and today has moved above it again.
I used this trend line to get the figures above.
Stand to be corrected.
George
Last edited by George; 06-11-2009 at 07:06 AM.
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Member
Dow to hit and exceed 10,000 again tomorrow!!
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Still tracking within "predicted" limits, Lodger.
Looking good for the 19th!
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Junior Member
Fascinating. Hurting, portfolio-wise, but nevertheless fascinating...
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