Steve Jobs Monday, page-35

XJO 5740 would be my break even point on BBOZ. It may well retrace or short-term gap down to 5740 before heading higher again.

The standout feature when zooming out the BBOZ ETF chart to a 12-month chart view, is that it looks quite bearish. BBOZ is below a declining 130-day and 200-day moving average. The type of chart that if it was a regular stock, would only be suitable for shorting. Think TLS, VOC, SRX.

I have traded GEAR before, but it is like going long the 4 big ASX banks with 100% leverage. Better to go long with smaller cap higher volatility ASX stocks.

By looking at the 12-month biggest ASX 300 gainers at (marketindex.com.au), some common features are apparent. The standout for me was that they were typically less than 15 billion dollars market cap. Many are 6 billion. Hence, I generally avoid most of the ASX 50. QAN, and FMG (for the large dividend) are some exceptions.