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14/10/14
19:53
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Originally posted by Westhx
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So much for yesterday's resilience. Must be the only ASX 200 resource stock down today and back to the 52 week low. SXY once again sitting right at the bottom of the down channel.
Don't really know why the rest of our market rallied today, iron ore stocks short covering, perhaps a shift from over priced US equities that are still mid way through their correction. One thing I will not be doing is paying any attention to the early US market as it is meaningless compared to the last hour of trade. Just had a feeling the US would roll over again last night. DOW down 660 in three days says it all.
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Basically people are retarded and the BOTS are in control.
Take a look at the course of trades (you can use The Bull to do it http://asx.thebull.com.au/ ).
So many small trades under the levels we are allowed or would make financial sense. They are driving down on fear as commented by others. Get a nice big headline and smash it down from there.
Buy time.