Hi Kacy
Since the start of 2009 the HIS, SSE & STI have rallied from 85% to ~100% from their lows. IMO it's fair to expect profit-taking etc at the 100% level - as per Mr Gann. IMO their recent retraces are far from cataclysmic or a significant reversal into a double dip recession.
http://finance.yahoo.com/echarts?s=000001.SS#symbol=000001.SS;range=1d
By way of contrast our boarse rallied from 3090.8 to 4506.5 [approx 45.8% since March 10]. As per Fibonacci & Mr Gann again therein lies a key level of resistance / profit-taking / shorters rallying point.
IMO for The Market to move upwards from here some economic afterburners need to start kicking in - perhaps as per today's WA Gas announcement & recent improvement in US economic indicators as well as IMF proclamations that the GFC is done & dusted & MOST IMPORTANTLY Stephen Long developing doubts amidst his ever-expanding global sea of economic uncertainty [lol].
Cheers,
Lapdog
no demand driving prices down, page-16
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$39.62 |
Change
-1.130(2.77%) |
Mkt cap ! $200.9B | |||
| Open | High | Low | Value | Volume |
| $40.45 | $40.68 | $39.56 | $423.2M | 10.58M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 4755 | $39.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.62 | 16874 | 1 |
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| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |