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     kate
Member
Username: kate
Post Number: 633
Registered: 04-2005Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 12:01 pm: | 
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HC,
You are right in your assumption. The breakdown within each sector wasn't given, whether that was deliberate or just an omission by the reporter, I don't know. Might try and find out a bit more, if anything surfaces will let you know.
Kate
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msparks
Member
Username: msparks
Post Number: 818
Registered: 10-2004
Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 04:25 pm: |
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peterloh
Member
Username: peterloh
Post Number: 2428
Registered: 03-2003Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 04:38 pm: |
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Mark,
It will break some time all right. I have all the time in the world. Are you in a hurry or something?
You are a BULL.
-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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holycow
Member
Username: holycow
Post Number: 2829
Registered: 08-2004
Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 04:40 pm: |
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MS,
Good observation. Let's watch the next two days for follow up since today is index options and futures expiry day.
HC
"... I believe in Santa!"
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holycow
Member
Username: holycow
Post Number: 2830
Registered: 08-2004
Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 04:45 pm: |
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#&@&))*@#*#)*#*)@... if you want to know what his means, email me. I'll tell you.
HC
"... I believe in Santa!"
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ody
Member
Username: ody
Post Number: 740
Registered: 10-2006Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 06:00 pm: |
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holycow:
The Australian market was only one of many Asian markets roaring up today. The strength was patent across the board, except in poor New Zealand. How about allowing for some bullishness when it occurs?
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holycow
Member
Username: holycow
Post Number: 2831
Registered: 08-2004
Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 06:36 pm: |
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Ody,
Don't get me wrong here. I was just at the verge of writing something on ASX's strong internal strength based on its rebounce and recovery everytime when it was slammed hard... something took my attention away. If you read my comment on MS's chart analysis, he got my agreement 100% here. Spot on!
If the index is able to break its recent high, it will be a good entry level for some short term trade.
I have no problem with bullishness what so ever. In fact I am trying not to take thing to personally after all as I have said earlier, I am holding a lot of cash.
HC
"... I believe in Santa!"
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ody
Member
Username: ody
Post Number: 741
Registered: 10-2006Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 06:47 pm: |
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holycow: Good post!
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holycow
Member
Username: holycow
Post Number: 2832
Registered: 08-2004
Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 07:04 pm: |
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XMJ 3-day Series
1) thought I'd do something different this time... the XMJ chart is showing quite a distinct and clear reverse H&S breakout and pullback, assuming it can maintain its momentum and continue its rally, I have a measured target of about 4.7% gain using today's close. Projecting this % gain to XJO's close of 5853 today, we are effectively looking at a target of 6128. (I am being conservative here)
2) note that the reverse H&S (basically a triangle breakout, with a target to 12693) is being treated as a continuation pattern here, and not a trend reversal signal.
HC
"... I believe in Santa!"
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perler59
Member
Username: perler59
Post Number: 935
Registered: 09-2003
Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 08:06 pm: |
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People,
Cast your eyes back to 01/June/2006. Behold. A bullish higher low .. Err, maybe not 
http://sttc.net.au/~stever
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holycow
Member
Username: holycow
Post Number: 2833
Registered: 08-2004
Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 08:21 pm: |
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P59,
If you want to remove most of the whipsaws you are seeing now, stick to weekly chart. I find it generally more reliable.
Cheers.
Here's some bullish view on commodity and gold. Have a good read.
HC
"... I believe in Santa!"
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holycow
Member
Username: holycow
Post Number: 2834
Registered: 08-2004
Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 08:29 pm: |
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XJO Daily
1) P59, thought your point is quite good. Here's my chart response.
Cheers.
HC
"... I believe in Santa!"
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tony_m
Member
Username: tony_m
Post Number: 698
Registered: 01-2003Rating: N/A
Votes: 0
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| | Thursday, March 15, 2007 - 10:47 pm: |
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The chart below is a weekly semi-log XAO chart which I have been using for quite a while. It is consistent right back to the start of the bull run in early 2003.
The upper trendline is a trial and error development which is my canary in the mine indicator and whenever the price breaks above the trendline I start counting and progressively batten down the hatches.
It stood me in good stead and I have walked away from this correction unscathed, in fact a little in front of my position before the correction hit.
Now the scary bit is that my chart shows me we are already back in high alert time and it is time to start the countdown again which I would except that I am fully in cash right now, zip stocks in the portfolio.
If the market powers on from here it shows that we have now joined the Chinese and Indians and are now running a casino, not a stock exchange.....Tony_M
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holycow
Member
Username: holycow
Post Number: 2836
Registered: 08-2004
Rating: N/A
Votes: 0
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| | Friday, March 16, 2007 - 09:51 am: |
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Tony,
I find it hard to refute your argument on market rebounds higher above the upper channel. Back in the beginning of Feb 2007, I was looking at the Index and RSI - my conclusion at that time was the market was too speculative and highly overbought. Right now the "excesses" seems to have been removed but I think the market is being influenced exaggeratedly by overseas markets - which by my definition - running on both local+overseas' market sentiment.
Longer term, I agree with your chart and interpretation. Short term, I think I won't rule out a market rebound locally, the next few days probably will give us a good indication.
Cheers.
HC
"... I believe in Santa!"
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