Archive through March 08, 2008

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hilarius

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Post Number: 3605
Registered: 04-2004

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Thursday, March 06, 2008 - 12:19 pm:

Hello Colin

Thank you for your message

I also send my good wishes to Ody

Hilarius

I come in peace to share my thoughts and to shine my candle light on possible long term opportunities

rdumas

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Post Number: 1194
Registered: 11-2006

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Votes: 0


Thursday, March 06, 2008 - 12:39 pm:

Hi Easymoney,

I'm not sure if Dean has responded to your question below:

If so, then why does Gottliebsen talk about the importance of money from overseas? Perhaps because the amount of money the banks need is greater than what is available at the RBA rate?

You have correctly answered your own question. A significant proportion that banks lend out comes from overseas money which at this time is very expensive. Hence when determining what you are going to lend your money at you have to weight the interest you are getting money at locally and overseas. I can assure you that the banks have so far not been passing on the total increased lending costs from their overseas component. The pollies in their usual snake oil sales approach are trying to make the banks out to be the problem when they clearly are not.

That is why Gottliebsen correctly points out the importance of the overseas money. Their only other option would be not to lend money beyond that which they collect locally which would bring our economy to a stand still.

deanrosario

Member

Post Number: 1373
Registered: 11-2002

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Votes: 0


Thursday, March 06, 2008 - 12:51 pm:

As we approach the post-lunch trading session, we are getting an interesting conflict of signals in my opinion:

(a) the XJO 60 minute chart indicates to me a move to the downward target is looking more likely than a move to the upward target.

However,

(b) The SPI 60 minute chart indicates the market has found support and is likely to move up

Either way, the market has been asleep (maybe I should have done the same!) for the past 2 hours so it remains a game of patience.

"Never commit yourself to anything you can't walk away from in 30 seconds." Neil McCauley (played by Robert de Niro) in 'Heat'.

"Hope is a dangerous thing. Hope can drive a man insane." Ellis Boyd "Red" Redding, played by Morgan Freeman, in 'The Shawshank Redemption'.

deanrosario

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Post Number: 1374
Registered: 11-2002

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Votes: 0


Thursday, March 06, 2008 - 01:03 pm:

My apologies for not getting back to you easymoney, but it seems Rudy has answered your question very well.

rdumas

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Post Number: 1195
Registered: 11-2006

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Votes: 0


Thursday, March 06, 2008 - 01:19 pm:

Hi Dean,

Unless the S&P500 futures heads down between now and our market close I would expect no move below our current support level today.

We appear to be playing follow the leader at this stage if we compare our market to the S&P500.

pse

Member

Post Number: 195
Registered: 10-2007

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Votes: 0


Thursday, March 06, 2008 - 02:46 pm:

hi Dean,

how do you find CMC and their platform for index trading?

Are you satisfied re customer service, platform versatility and order execution?

I have been using IG, but am considering opening an account with CMC.

- Peter

"TRADE WHAT IS, NOT WHAT MIGHT BE"

deanrosario

Member

Post Number: 1375
Registered: 11-2002

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Votes: 0


Thursday, March 06, 2008 - 03:02 pm:

Hi Peter

I've got no real issues with CMC's trading platform.

In relation to CMC's customer service ...

... thankfully, I rarely have had the need to ring the company - which, I guess, is a good sign - however, on the occasions when I have had to make the phone call to the trading desk or back office, the time taken to get through to a human is frustrating, but, I guess, it's to be expected with an "on-line business model".

So, overall, a good company to deal with and a good platform to trade.

By contrast, I've just been trialling IG Markets platform and find it a bit less friendly - but, it may just be that I'm not used to it.

Regards
Dean

captain_chaza

Member

Post Number: 3056
Registered: 02-2003

Rating: N/A
Votes: 0


Thursday, March 06, 2008 - 04:57 pm:

Ahoy Dear Friar Hilarius

You said above
"I also send my good wishes to Ody"

One of the hardest things one has to learn on Land is to "Fake Sincerity"

All I can say it was at least an attempt

Trust me!
You will get a lot better with every attempt so keep the work rate up

At sea I learnt very early-on we do not have to deal with such trivia/ Politically/ Un-Politically/ Correct Politics

We are trained to do it the "Navy Way"

All problems are solved instantly without thinking

As we say in the Navy
"Once you Think, You Sink"

Salute and Gods' speed

NB:
"Practice! Practice! Practice! is Everything in All Things"

(Message edited by Captain_Chaza on March 06, 2008)

"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.

"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893

"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897

dug

Member

Post Number: 2960
Registered: 07-2005

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Votes: 0


Thursday, March 06, 2008 - 05:48 pm:

With cat_lady contributing her stake to the new housing starts,how about our other Long Eugenio giving us an update on his doings and ploys?

I've news of Holy Cow.He's a Bull now.Seems to be dabbling short term in Banks.ANZ from what I saw.
He's going Leverage Route Long I think.Warrants is his preferred method from memory.Turns a 4% rise into 40%+ return.
but the main thing he's doing Long in the most Fallen Angel Sector.It says something to me and I hope to all of you,too.

but Eugenio you're an old fashioned Goer with your own Money.I'd like to hear how's it going.

cheers.

Even 'til Jaded.

Dig for the sake of it.

rdumas

Member

Post Number: 1196
Registered: 11-2006

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Votes: 0


Friday, March 07, 2008 - 08:04 am:

S&P500 drops 2.2% overnight

More negative financial news in the US last night caused the S&P500 to crash through its strong support level (green line) ending down 2.2%.

I have drawn in the candle of last night's action on yesterday's chart. No other information on the chart has been updated.

A three year view of the same chart provides an overview of the next likely target level (orange line).

Needless to say our market will get trashed today and will be targeting the support level located at 5318 set on the 11th May 2006.

A two year chart shows how I arrived at that level.

I should clarify that in both markets there are a number of intermediate support levels between where the market currently sits and where my proposed target levels are. My proposed target levels are my best guess levels.

deanrosario

Member

Post Number: 1376
Registered: 11-2002

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Votes: 0


Friday, March 07, 2008 - 08:39 am:

And Rudy, for those who watch the "closing prices" it's interesting to note that the S&P500 has made its lowest close since .... 11 September (the date is just a coincidence, surely?) 2006.

I've drawn the closing level from last night on the chart since my chart has not yet updated.

And, here was I thinking the US stock market has "holding up" pretty well compared to the Aussie in recent weeks!

In reality, despite the conflicting economic scorecard for the Aussie & US economies - i.e. strong growth and high interest rates and low growth and low interest rates respectively - both financial markets are in strife.

PS: On 11 September 2006, the XJO closed at 5026, which is a scary thought 20 minutes before the market opens.

coyotte

Member

Post Number: 484
Registered: 12-2002

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Votes: 0


Friday, March 07, 2008 - 08:43 am:

Think this chart of the Spot Copper price speaks for itself :
no bubble here! -- but a Tri Break-Out as i see it .

.

The "Sea of Uncertainty" is defeated by the nimble vessel "Probability", not the unwieldy vessel "Prediction".

rdumas

Member

Post Number: 1197
Registered: 11-2006

Rating: N/A
Votes: 0


Friday, March 07, 2008 - 09:56 am:

Hi Dean,

That's an interesting observation......I had completely missed it. I must admit that I had a much better opinion of our economy until Ody mentioned that our deficit was even greater than that of the US so I started trying to find the figures. The best figure that I could find for the US (not sure how accurate it is) was 5.5% of GDP whilst ours is a shocking 7% of GDP. Having a high interest rate is not going to help our cause at all !!!

As a matter of interest here's what has happened to the US deficit since 1961. Clinton was the only one who ran a surplus (I haven't worked out yet whether that's good or bad, but I'm working on it). I wonder if Monica had any input into making it go up

(sorry about that but I couldn't resist it):

http://www.uuforum.org/deficit.htm

lafee

Member

Post Number: 803
Registered: 04-2003

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Votes: 0


Friday, March 07, 2008 - 12:02 pm: