most aussie banks gapped up to resistance and then fell away. Need tomorrow to confirm but most are on classic reversal doji's right now, sellers out pretty strong,evening star doji by tomorrow? I've taken profits on financials. Plus made a 100% trading gain on xjo warrants since Thursday, despite the dodgy mm.
The risk for financials now of course on the fundamentals is that the usd will cave and oil and/or other commodities will rally. But with usa govt now intervening in commodity markets as well (see Bloomberg) I'm not too sure of commodities as a long trade at this point.
Thinking of longing a few consumer staples but not quite yet. Would like them to double bottom which they should do if this rally in financials continues for a few more days.
cash is nice right now.
what happens after the short cover rally today, page-32
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
7,971.6 |
Change
-64.900(0.81%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,036.5 | 8,036.5 | 7,923.6 |
| XJO (ASX) Chart |