Morning.
Haven't had time to read the whole thread yet but for reference the reason for the last hours trade in the Dow last night was because an FT article came out suggesting that there were divisions in the Eurozone on the bailout package.
As noted yesterday, market is very headline sensistive. Technicals are important and should be used in the toolset to guide decisions but bottom line is this:
If the next few days sees tangible positive news out of Eurozone (Greece pasing tax laws to further show they are intent of pursuing strict austerity measures and therefore deserve more money to help pay the bills, votes re extension of EFSF etc etc) this could see another 5% to 10% rally with no let up easy - basically a vertical line. In these markets those moves are the norm now.
If the news is less tangible or indeed fails to meet these rumours that something BIG is about to come out re a plan for moving forward for the Eurozone, then Martis will be singing from the rooftops (and deservedly so) and the last few days will be seen as the perfect shorting opp.
Only time will tell which plays out. Day to day very difficult to know precisely what is going to happen but one can build a tree diagram with known upcoming events and likely outcomes.
It will also be interesting to see how we go past the window dressing of post quarter end. The consumer confidence numbers of last night were not good and the flow on effect to Non Farm Payrolls of next week will be telling.
If the AUD can rally past 1.02 than there may be something in this medium term, but gold also up of the last few days, that seems somewhat strange to me (if indeed it is perceived to be a safe haven and risk is 'on' then mmmmm)
My 2c.
Good luck to all and tin hats on.
- Forums
- ASX - By Stock
- XJO
- yotta's - art of symetry - wednesday
yotta's - art of symetry - wednesday, page-65
-
- There are more pages in this discussion • 133 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
8,026.1 |
Change
-45.300(0.56%) |
Mkt cap ! n/a |
Open | High | Low |
8,071.4 | 8,071.4 | 8,024.5 |
Featured News
XJO (ASX) Chart |
The Watchlist
UNT
UNITH LTD
Idan Schmorak, CEO
Idan Schmorak
CEO
Previous Video
Next Video
SPONSORED BY The Market Online