The market was flat today for the third day running. For the pedants, the XJO was up 0.2%. A marginal increase by anybody's language.
Now, let's put this into context. Remember what happened on the American market last night. S&P500 up +0.63% and the London FTSE was up 0.8%.
Next, have a look at the volume today. Volume today was nearly 50% above the 10-Day Average. hmmm.
A lot of effort for not much result. There was a lot of buying going on today - and a lot of selling into that buying.
I'll let you guess who was doing the buying and who was selling to them.
Remember - we're at the top of a trend. Who buys at the bottom of a trend? Who sells at the top of a trend?
Quote for the day, "The Stock Market is an exquisite mechanism for transferring wealth from the many to the few." Actually - I just made that up. :)
Not much else to say today.
Good luck
Red
- Forums
- ASX - By Stock
- XJO
- new day 17th feb
new day 17th feb, page-18
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
7,767.5 |
Change
7.900(0.10%) |
Mkt cap ! n/a |
Open | High | Low |
7,759.6 | 7,819.0 | 7,754.9 |
Featured News
XJO (ASX) Chart |
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online