You need to register separately on the Chart Forum
- see Chart Forum Help
Edit Profile Profile Help Help
Forum Rules Forum Rules Advanced Help/Instructions Advanced Help
Search Last 1|3|7 Days Latest Posts Latest Posts
Search Search Forum Tree View Tree View
   
TSX Stocks 15-minute delayed

ASX going down, stage 4

Chart Forum » Stocks - ASX: short term (strictly TA) » Archive through 2004 » Archive through October 08, 2004 » ASX going down, stage 4

««  «  Previous  Next  »  »»


 
Thread  
Last Poster Posts Pages Last Post
  ClosedClosed: New threads not accepted on this page        

Author Message

Top of pagePrevious messageNext messageBottom of page Link to this message
lee_taylor
Member
Username: lee_taylor

Post Number: 15
Registered: 12-2003

Rating: N/A
Votes: 0


Wednesday, June 02, 2004 - 08:59 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi guys,

ASX is in the beginning of a stage 4 downtrend after forming a nice top above $16. Next resistance levels round numbers at $14 and $15.


Is anyone following this stock or have any conflicting or congruent thoughts to share :-)

Cheers

Lee




Top of pagePrevious messageNext messageBottom of page Link to this message
sabretoothed
Member
Username: sabretoothed

Post Number: 397
Registered: 03-2003

Rating: N/A
Votes: 0


Wednesday, June 02, 2004 - 09:05 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Yes, looks like it fell thru the 200MA.

For people that actually short stuff, this looks like its a good potential short, not SGW!

I'd short it, unless it made it above the 200MA again. ASX is a tricky one, since its held by brokers tightly, so it may not behave correctly? So have a tight stop if you going to dare this :-)








Top of pagePrevious messageNext messageBottom of page Link to this message
new2waix
Member
Username: new2waix

Post Number: 832
Registered: 10-2003

Rating: N/A
Votes: 0


Wednesday, June 02, 2004 - 06:34 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I have been watching ASX. I was tempted to go short when the triangle broke down, however am watching what to see where the market is headed.

If the XAO rallies, then more money in the market and more cashflows for ASX. So the recent dip may just be in response to the dip in the XAO. The market looks like rallying upwards again, so waiting for now.



Nevertheless, any failure to recover above support and continuation of this downtrend will make an enticing SHORT position.




Top of pagePrevious messageNext messageBottom of page Link to this message
magic_ron
Member
Username: magic_ron

Post Number: 2
Registered: 05-2004

Rating: N/A
Votes: 0


Thursday, June 03, 2004 - 03:03 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



new2waix, are you using CFD's at IG Markets for your shorts? If so, what do you think about the brokerage rates? I find them a barrier to nice profits unless you wield more than 5 digits on an individual trade.
0.5% of each trade? A bit much in my opinion, but I do like the interest rate level.
I've been disappointed with BT's online service and am thinking of going completely over to CFD's...
Does anyone have an opinion on Leveraged Equities and their online service, combined with, say, AOT?


Top of pagePrevious messageNext messageBottom of page Link to this message
buy_stop
Member
Username: buy_stop

Post Number: 9
Registered: 05-2004

Rating: N/A
Votes: 0


Saturday, June 05, 2004 - 11:02 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Gents,

Agree, this is setting itself up for a great short. Price looks like it has well and truly rejected the $16 mark.

Cheers

Buy_stop




Bulls make money and bears make money, but hogs just get slaughtered.

Top of pagePrevious messageNext messageBottom of page Link to this message
sabretoothed
Member
Username: sabretoothed

Post Number: 470
Registered: 03-2003

Rating: N/A
Votes: 0


Sunday, June 06, 2004 - 12:19 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I don't know how many confirmations you need, just short the crap out of it until DMI crosses positive or its back over the 200 day moving average :-)

As I said above, this is a clear short, I would short it if I shorted....






Top of pagePrevious messageNext messageBottom of page Link to this message
new2waix
Member
Username: new2waix

Post Number: 841
Registered: 10-2003

Rating: N/A
Votes: 0


Sunday, June 06, 2004 - 03:26 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



ASX is looking good for a short. Price just can't stay up.

Will be watching 1524. Has held above this mark for now.



The attempt at rising up on Wednesday was met with heavy resistance on Thursday. Next bounce should be off 1500 if it stays within this downward channel.




Top of pagePrevious messageNext messageBottom of page Link to this message
buy_stop
Member
Username: buy_stop

Post Number: 34
Registered: 05-2004

Rating: N/A
Votes: 0


Tuesday, June 22, 2004 - 04:22 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Second attempt at $16 has failed




Technical analysis is largely making a series of educated guesses that are based on reliable observations of past market behavior. Occasionally the guesses prove to be incorrect, and it is then the function of the analyst to adjust rapidly to the unforeseen developments.

Top of pagePrevious messageNext messageBottom of page Link to this message
buy_stop
Member
Username: buy_stop

Post Number: 41
Registered: 05-2004

Rating: N/A
Votes: 0


Thursday, June 24, 2004 - 09:12 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Really struggling.....




Technical analysis is largely making a series of educated guesses that are based on reliable observations of past market behavior. Occasionally the guesses prove to be incorrect, and it is then the function of the analyst to adjust rapidly to the unforeseen developments.

Top of pagePrevious messageNext messageBottom of page Link to this message
buy_stop
Member
Username: buy_stop

Post Number: 65
Registered: 05-2004

Rating: N/A
Votes: 0


Sunday, July 04, 2004 - 09:55 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Possibly a third opportunity forming for a short trade....




Technical analysis is largely making a series of educated guesses that are based on reliable observations of past market behavior. Occasionally the guesses prove to be incorrect, and it is then the function of the analyst to adjust rapidly to the unforeseen developments.

Top of pagePrevious messageNext messageBottom of page Link to this message
lee_taylor
Member
Username: lee_taylor

Post Number: 31
Registered: 12-2003

Rating: N/A
Votes: 0


Wednesday, July 07, 2004 - 03:30 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



It looks like a likely 2.5% move if you were to short today.


Happy Trading

Lee Taylor

Top of pagePrevious messageNext messageBottom of page Link to this message
soma
Member
Username: soma

Post Number: 103
Registered: 12-2002

Rating: N/A
Votes: 0


Friday, July 16, 2004 - 10:35 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I went short yesterday @15.89. (My first short)

Bit of a hedge if the market suddenly gets ugly.

Seems to have rejected $16.00 again, Williams turning out of overbought, underneath a downward moving 30wk moving average and weakening Twiggs (100) and Relative Strength.





Looking at 15.25 as next support, stop just above 16.00

Regards,
Soma


Top of pagePrevious messageNext messageBottom of page Link to this message
stoploss
Member
Username: stoploss

Post Number: 151
Registered: 03-2004

Rating: N/A
Votes: 0


Friday, July 16, 2004 - 11:10 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Just for the record: this is a high risk short since you pre-empted the support line break @ 1525. Means more work required in keeping an eye on it and closing it out at any hint of 1600. Looking good right now though. Good luck and well done. SL

PS I will wait for 1525 break since I've done my impatient short dash with CML.


..then again..I could be totally wrong. So use your own brain and let me know what it brought up.

Top of pagePrevious messageNext messageBottom of page Link to this message
new2waix
Member
Username: new2waix

Post Number: 1034
Registered: 10-2003

Rating: N/A
Votes: 0


Friday, July 16, 2004 - 11:44 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Was also looking at a short position, but was a little hesitant after Wednesday's bullish candle and MA crossovers.

Although there is a clear sideways trend in place, I may wait for a clear break out of this pattern to take a longer term position.



Waiting for now...


..


Top of pagePrevious messageNext messageBottom of page Link to this message
soma
Member
Username: soma

Post Number: 105
Registered: 12-2002

Rating: N/A
Votes: 0


Friday, July 16, 2004 - 12:54 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hey guys thanks for the feedback

It's an interesting one isn't it?

High risk no doubt but with the risk comes the opportunity to place a very tight stop which I'm sure Stoploss took into a account on his CML short.



If the markets run again 16.00 may well be broken though this stock underperformed badly during the recent upmove of the XJO since May.

I'm comfortable with the reward/risk ratio of 5 to 1 presuming a short entry @15.89 with a stop @16.02 and a target of 15.25

Regards,
Soma

(Message edited by soma on July 16, 2004)


Top of pagePrevious messageNext messageBottom of page Link to this message
stoploss
Member
Username: stoploss

Post Number: 152
Registered: 03-2004

Rating: N/A
Votes: 0


Friday, July 16, 2004 - 04:54 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



It' s looking Good for you, Soma. SL


..then again..I could be totally wrong. So use your own brain and let me know what it brought up.

Top of pagePrevious messageNext messageBottom of page Link to this message
buy_stop
Member
Username: buy_stop

Post Number: 146
Registered: 05-2004

Rating: N/A
Votes: 0


Saturday, July 24, 2004 - 12:29 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Perhaps another opportunity to short......




Technical analysis is largely making a series of educated guesses that are based on reliable observations of past market behavior. Occasionally the guesses prove to be incorrect, and it is then the function of the analyst to adjust rapidly to the unforeseen developments.

Top of pagePrevious messageNext messageBottom of page Link to this message
soma
Member
Username: soma

Post Number: 111
Registered: 12-2002

Rating: N/A
Votes: 0


Tuesday, July 27, 2004 - 11:05 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Tomorrow the day of reckoning?

I'm still short though must admit to being tempted to exit position today for a small profit and watch from the sidelines when the full year results come out tomorrow but decided to stick with my original plan.

It's hard to imagine them being anything but solid although the last few days price action (albeit in a weak market,) doesn't seem to indicate any huge surprises to the upside.

Wasn't able to close above the intermediate down trend line or the 30wk wma on Friday despite being above both during the day.

Dividend record date mid August and this stock might not see some real downward momentum till after this.



Watching and learning

Soma


Top of pagePrevious messageNext messageBottom of page Link to this message
swing_trader
Member
Username: swing_trader

Post Number: 11
Registered: 06-2004

Rating: N/A
Votes: 0


Thursday, July 29, 2004 - 05:08 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



It is typical sideway-no direction. After nearly 2 Month sideway, it forms a base. downtrend is finished unless it breaks the bottom of the sideway to resume the trend. 5 times test $16 resistance, and all rebound weakly, all close is around the top half. I am ready to be long if it breaks $16.00.


Top of pagePrevious messageNext messageBottom of page Link to this message
soma
Member
Username: soma

Post Number: 116
Registered: 12-2002

Rating: N/A
Votes: 0


Wednesday, August 04, 2004 - 02:14 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Im out of the short position for a huge return of about $9 after brokerage. Ex-divi on Monday and I don't fancy paying someone .515 a share to hold onto the position.

This stock stills looks very shaky to me in a strong market however and come Monday I may be looking to another short position as a hedge for other investments.

I think it was Louise Bedford who advocated taking a short after the stock goes ex-divi because it gan add to the downward impetus. Of course the stock has to be weak beforehand.

It would have to do more than break 16.00 for me to be long again when their are so many stocks in strong uptrends.

Regards,
Soma


Top of pagePrevious messageNext messageBottom of page Link to this message
buy_stop
Member
Username: buy_stop

Post Number: 180
Registered: 05-2004

Rating: N/A
Votes: 0


Saturday, August 14, 2004 - 12:56 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Finally, looks to have made up it's mind as to which way it wants to go!!




Technical analysis is largely making a series of educated guesses that are based on reliable observations of past market behavior. Occasionally the guesses prove to be incorrect, and it is then the function of the analyst to adjust rapidly to the unforeseen developments.

Top of pagePrevious messageNext messageBottom of page Link to this message
pistol
Member
Username: pistol

Post Number: 58
Registered: 02-2003

Rating: N/A
Votes: 0


Saturday, August 14, 2004 - 10:40 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Soma, You have taken a huge risk for only a $9 profit !!! Successful traders cut short their losses and let their profits run.

You may make small losses all year but it only takes 2-3 big wins to make your year.

http://www.smallcapcenter.com/help/pdf/discipline.pdf

For a great tip on discipline.

-------------------------------------------------
Disclaimer: Please note that comments made in this column is made in my professional capacity and should be taken as advice.In my professional capacity I am allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should be relied on to make an investment decision.Please consult your stock broker or financial adviser in regard to your personal situation.


Top of pagePrevious messageNext messageBottom of page Link to this message
pistol
Member
Username: pistol

Post Number: 59
Registered: 02-2003

Rating: N/A
Votes: 0


Saturday, August 14, 2004 - 10:51 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Oh and I forgot to mention you have to pay tax on the $9 profit so you are really looking at about $6.

The good news is your losses can offset the tax on profits and should you be unlucky enough to make an overall loss for the year this can be carried over to the next financial year to further offset tax on profits.

You may be able to declare yourself to ATO as a share market trader for further benefits.

-------------------------------------------------
Disclaimer: Please note that comments made in this column is made in my professional capacity and should be taken as advice.In my professional capacity I am allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should be relied on to make an investment decision.Please consult your stock broker or financial adviser in regard to your personal situation.


Top of pagePrevious messageNext messageBottom of page Link to this message
soma
Member
Username: soma

Post Number: 125
Registered: 12-2002

Rating: N/A
Votes: 0


Saturday, August 14, 2004 - 05:24 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thanks for the feedback guys and the link pistol I fully agree with its sentiments.

As I mentioned earlier in this thread it was my first short. As a consequence I got too close to the situation and changed my plan mid trade which is wrong. I was reluctant to pay the dividend on the short position and thought with a couple of days of strong U.S data the stock may rally a little longer. If I had stuck with my original stop, I would have to have paid the divi but would be in a more profitable position than now.

Since Monday I have been looking for a retest of 15.25 (previous support,) that failed to hold for re-entry. I'm short again as of Thursday with a stop just above Wednesday's high with no divi payouts to worry about for 6months.



This is my only short currently in the market but my long position stops are set and automated- what will be will be.

Regards,
Soma


Top of pagePrevious messageNext messageBottom of page Link to this message
buy_stop
Member
Username: buy_stop

Post Number: 191
Registered: 05-2004

Rating: N/A
Votes: 0


Thursday, September 09, 2004 - 11:52 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Critical test for this one. Woe to the bulls if $15.65 fails




Buy_stop - always lurking with intent

Top of pagePrevious messageNext messageBottom of page Link to this message
snifter
Member
Username: snifter

Post Number: 682
Registered: 11-2002

Rating: 
Votes: 4


Saturday, September 11, 2004 - 08:00 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



ASX


Top of pagePrevious messageNext messageBottom of page Link to this message
buy_stop
Member
Username: buy_stop

Post Number: 206
Registered: 05-2004

Rating: N/A
Votes: 0


Tuesday, September 28, 2004 - 08:29 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Is it making a last stand at $16?




"If you can count your money, you don't have a billion dollars"
- J. Paul Getty, US oil industrialist (1892 - 1976)

"The safest way to double your money is to fold it over and put it in your pocket"
- Kin Hubbard (1868 - 1930)

Top of pagePrevious messageNext messageBottom of page Link to this message
lightsaber
Member
Username: lightsaber

Post Number: 22
Registered: 08-2004

Rating: N/A
Votes: 0


Tuesday, October 05, 2004 - 12:08 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I'm thinking of going long in ASX at this stage, with the heavy volume and price moving back above the 26day SMA.
Also breakout above the $16 barrier.
And finally because the next 2 years forecast EPS is growing at a healthy rate :-)

Can anyone give strong reasons why in their opinion this would be a bad idea?


Top of pagePrevious messageNext messageBottom of page Link to this message
lee_taylor
Member
Username: lee_taylor

Post Number: 41
Registered: 12-2003

Rating: N/A
Votes: 0


Tuesday, October 05, 2004 - 12:13 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Well I started the post bearish but I'm certainly bullish now. I am hoping to see a short pullback to a new low at around $16 ish though.







Happy Trading

Lee Taylor

Top of pagePrevious messageNext messageBottom of page Link to this message
lightsaber
Member
Username: lightsaber

Post Number: 24
Registered: 08-2004

Rating: N/A
Votes: 0


Tuesday, October 05, 2004 - 12:32 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Same here Lee, i'll be trying to get in around that mark.

It's good to be flexible like that with T.A. i havent been pressed into that situation yet, but hopefully i'll be as flexible as you. i lub stop-losses :D

 
Other Threads  
Last PosterPostsPagesLast Post
AOE - any comments from Yogi or anyone?nightstalker07-Oct-04  05:59 pm
BPT - Beach Petroleum - Ascending triangleyogiinoz07-Oct-04  04:28 pm
Psd succes with cancer farknose07-Oct-04  03:45 pm
NLX - Going forward (2)archer12 07-Oct-04  12:24 pm
ORG a new ATHdennis_menace07-Oct-04  11:10 am
BPCzorba07-Oct-04  11:01 am
JBM - Jubilee Miningdennis_menace07-Oct-04  10:44 am
RCL - Repco Corpdennis_menace07-Oct-04  10:33 am
NEM - Newmountdennis_menace07-Oct-04  10:24 am
HNG - HGLdennis_menace07-Oct-04  10:14 am
Ndo channelling up_cj_06-Oct-04  05:54 pm
When will a short term correction happen?gurutrader200505-Oct-04  01:47 pm
WOW - food for thoughtlightsaber05-Oct-04  11:58 am
Vcralsoran50 05-Oct-04  08:34 am

Threads by Last Post Time:

First Previous 98 99 00 01 02 03 04 05 06 07 08 09 10 11 Next Last

Administration Administration   Log Out Log Out    

««  «  Previous  Next  »  »»