the LINEAR REGRESSION BAND (an automatic trading band tool) is horizontal taken over the last 7 weeks.... its HIGH is 5526 & LOW is 5368........ that an over all TRADING RANGE of 158 (2.9%) either side of a MEAN LEVEL of 5449. the rise and fall above the mean is then 1.45%.
Fridays bar reached 5484, 36 (0.66%) above the mean, so its level is well into the upper half of the trading band... the US MARKETS were up a moderate amount o/night Friday which suggests a better than even probability that the all ords price will continue to move upwards towards the upper boundary of the trading band.
perhaps my current holding of 10 bites of shorts have been placed too soon, anyhow I am happy with most buy in prices for those stocks.... on monday i am thinking that i will place bids for more shorts hoping that some may be taken out over the next week at higher levels. _________________________________________________________
THE ALL ORDINARIES has tagged the DJI very, very closely over the last 5 months (not so during the 7 months prior), but their respective performances over the last 12 months is almost identical.... it has also been a steady rise over that period.
so it makes good sense to follow the DJI very closely every morning - that is untill some different pattern emerges. ___________________________________________________________
the BULLDOGS play the GOLDCOAST at 3.30 this afternoon ... we will have to record it as we will watching the 11 YR. OLD GRANDSON playing at the same time..... these growing up boys are really fair dinkum having all been at it since AUSKICK..... they are showing some great skills, plus the early signs of manhood with plenty aggression and spirit...
its also a great community atmosphere with all the kids parents becoming good friends.
