asx down one and a half % for the week, page-20

  1. 4,960 Posts.
    Support and Resistance, LOL!

    In regards to Frankie, I must say that when he first burst onto the scene, I was fighting beside him, there was a huge amount of anti-trader sentiment, and as Frankie has stated he was making calls that threw many a HotCopperite into a foaming Frenzy, but his calls were good and the man is a legend as a trader.

    That last point is important... traders will often get the finer details slightly out of whack, but depending on their abilities, will profit as appropriate, or cut the losses as required.

    Personally I think his posting style is not the best and concerted effort on my part, sometimes heated ended up with me being on ignore from the man... and within a hairs breadth of being suspended for some pretty vigourous flaming on my part. so be it.

    KGB and I locked horns around the same time, t/a versus f/a buy and hold versus trading.

    We reached a peaceful conclusion and personally I think we found a space of mutual respect, if not at least, no animosity, LOL!
    On a personal level I see communications with KGB being far more fruitful and worth while than with Frankie... but that is all about ME!

    With regards to the ASX being down this week, and whether we will fall massively... hmmm hard for me to say, but from an XJO perspective, I still have longerterm 4000 ish targets.

    I personally beleive there is a lot of room for a blow off top to get us there on this, what I beleive is still, a bear market rally.

    I think that there is room for capitulation to the upside, and we are yet to see that.

    From a fundamental/news driven perspective, I see room for our banks to be making some "apparently" positive even "sensational" reports, adding fuel to a blowoff...
    I say apparently as I beleive the substance of the reports could well be as froth and bubbly as the recent reports from the larger banks in the US.

    But as usual, I will play the markets from day to day and week to week.


    In the meantime, I will continue to read Frankies posts, will take some of what he has to say on board, and be amused by the heated debate that he creates.

    ;)
 
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