The XJO has bottomed officially.
There are no more sellers. It stinks of shorters trading against shorters. All the sellers puked on Monday, and shot their load (typical of Aussie fund managers - shoot first, ask questions later) sub 4000.
Been short through the most turbulent period this year and I'm actually down after living through a 700 point fall on the XJO from being short at 4000. This is after I took a quick 50 point win too. Which means I'm technically short at 4050, and I just covered at 4110-ish.
So how do you lose money when you got the right direction? You pick the wrong market. My failure (because I don't trade it) is I failed to realise it has been leading the way down and is probably a good 2/3 days ahead.
New targets to short XJO - yesterday's high between 4160-4170 would be bout right on.
yotta's chaotic, disordered, confused thursday, page-65
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Last
7,718.2 |
Change
-32.500(0.42%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,750.7 | 7,754.4 | 7,702.5 |
| XJO (ASX) Chart |