I know... I'm lowering the common denominator on the once selubrios XJO forum with my choice of thread starters.
So, no humour this morning, just straight talking technical analysis.
As in the case of a topping head & shoulders patterns, sometimes - as I am sure you are all aware - there is a rising test to the mid head area and if that fails to break above - a fall often ensues.
I mentioned the other day as we were headed back up from what looked like an inverse head and shoulders...that we might go down and do the opposite. In this case a test of the crotch area at around the 4750. With these sorts of technical analysis, I use my big paper XJO chart on the wall of my current bedroom - which happens to be the ironing room at the moment as crow face has kicked me out.
Big charts are great because you can quickly measure all sorts of speed angles with what ever you have lying around. A sock for these mini swings or an over size jock strap for those terrors like last July...or if you have an old cod piece lying around, you day traders can use it for your intra day moves, the diameter's perfect - as Maxi says...keep it simple.
Maybe this inverse head & shoulders will pan out if we are in the process of just sniffing around the crotch area. If the XJO doesn't like the smell of this level, it may get a dose of Volt's Viagra and be propelled through the waistband at 5000. Giddy-up XJO!
...and we'll all be rich, RICH I tell you!!
Speaking of giddy-upping. I have been told to get on my saddle by she who must be obeyed from harlet haven upstairs. So I am taking the horse for a three day ride through D'Entrecasteaux National Park.
Someone else is going to have to start a new thread for the weekend and Monday. Seeing pages and pages of crotchtest friday is not classy. If you do it SanFelipe, try to be more creative than your last effort - Mild Monday wasn't it?!
Crappy portfolio from Dassy's Doomsday Thursday the 5th. (did he even see it?)
Stock Qty Purch LastPrce Pft/lss
AGO 5000 3.65 3.49 -830 AWE 30000 1.55 1.48 -2004 LEI 500 30.81 23.74 -3535 RIO 1500 82.08 81.09 -1480 BHP 2000 45.88 45.44 -881 MQG 500 35.09 34.49 -300 TOL 3000 5.56 5.52 -110 ORG 1200 15.67 16.54 +1044
(20min delay)