S&P/ASX Small Ordinaries (ASX:XSO) - The Brains Trust - 2020, 44818147, page-1331 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by paddington bear: ↑

When I updated my charts on the weekend, I was overwhelmed by this feeling that looking at New York, it doesn’t all fit together and the only explanation I can give is that this extreme level of money that is being thrown at stocks and bonds (including junk) is distorting everything. For a start my Geniuses (and for anyone not familiar with my Geniuses - it is the summary of a group of portfolio managers in New York) are still only at 63% invested in the market which is not historically high. As well, when I look at other indicators such as the Fear & Greed Indicator that is only sitting at 50 – in the middle of the range. However, figures for put options “is among the lowest levels seen during the last two years indicating extreme greed on the part of investors” – CNN Business. See what I mean – it just doesn’t all fit for a market that has bounced so far as the S&P has. As I have mentioned many times over recent months, there is an election coming up and obviously they will move heaven and earth to paint a “pretty” picture.

But regardless of this, so far the “scheme” appears to be working but eventually the piper must be paid.

There has been considerable comment on the strength of the iron ore market just recently. We need to keep in mind that this new-found “love” might prove relatively short term as the price for the June contract is sitting at $95.03 whereas one year out is only $77.33.

Our market was looking like it really wanted to rally higher on Friday and then rolled over and finished in the red again. I think we were just stunned by the fact that simple arithmetic seems to have been completely overlooked by our people in power. A dollar here and a dollar there we can all understand but $60 billion – that is just a hurdle too far even a Simple Little Chartist. Hopefully next week we can have another go at our overhead resistance.

What is of interest at the moment is the performance of the base metals. Looking at some of the US ETF’s on this section, it is possible that base patterns are being formed. Not confirmed at this stage but enough to start watching to see if these suggestions of base patterns can turn into something a bit more.

Gold is consolidating as I had anticipated. Just have to give it time.

There does seem to be quite a bit of speculative money around – God I hope it isn’t from superannuation withdrawals – but stocks are having very short times in the sun before sellers appear. We all love a winner but be aware that quite often by the time “runners” come into focus, the best has usually already been harvested.

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Hi Friends,

I have a few charts to share with you as I believe they're looking quite promising:

FLT -

If FLT Closes above $14- for the month of May it gives a fabulous Bullish reversal signal; but even if it does that only in June it is still a very good reversal.

On thee Daily chart, below, you can see the price moving up and being supported. Not showing the Volume but you can check this yourselves and if you need assistance @Jako8557 or @Cabbie will be more than happy to assist with its interpretation. Jako's the VSA guru and cabbie's no slouch either.

@taughtbuffet has been very keen on this stock and we all know what a wise poster he is.

I did buy FLTXC7 Options (Exp 18/3/21 - strike $16.23) and if things go to plan I should make enough for a few more nice cruises.

Daily chart below:

APT - charts below:

What a nice price movement with an Horizontal Breakout already in place and the retest done. It did not harm the share the fact that Tencent bought 5% of the stock in addition to the US signings going through the roof.

Price targets : $80- due to the Horizontal Breakout

Nice support and Reversal on the Monthly.

Horizontal Breakout and retest in place and the $80- is achievable (within 12 months).

Z1P -

Very similar story to APT. Charts below:

On the Weekly we can see sub-wave 3 of Major Wave 1 under way.

Once it goes through the Horizontal Breakout, a Target of $12- comes into play. But if one used the Fib projections to 161.8% we would get roughly the same target.

WHK -

This is a smaller stock but run by people with very sound credentials. That's part of the reason why I was lured into becoming a major s/h.

@slick has been helping the WHK threads with a few charts and mine only vindicate what he has recently posted.

Weekly Chart below showing a fairly decent price structure.

Targets - don't have one. Just hoping that it does well and rewards long term supporters like myself.

By way of disclosure, I hold the above stocks.

On another note, we all know that our own Matriarch @paddington bear (aka Paddy (the Bear) is very 'Bearish' on the market but fear not, this market has legs and don't fret until around 2026 or the DJIA getting to 40,000. After that, just Sell and book yourselves a round the world cruise.

Ahoy and Cheers,

soccer