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ASX 200 prediction

Discussion in 'ASX Stock Chat' started by beemer, Jul 8, 2018.

  1. beemer

    beemer

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    Hi Everyone, anyone got an opinion, analysis for the asx 200 tommorrow?
     
  2. greggles

    greggles I'll be back!

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    I predict it will close at 6,315.
     
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  3. Darc Knight

    Darc Knight

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    Lol

    I'll meet your 6315 and raise you another 10 - 6325!
     
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  4. beemer

    beemer

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    i really hope you to are wrong, or im going to be wiped out lol.
     
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  5. greggles

    greggles I'll be back!

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    You got a big bet on?
     
  6. beemer

    beemer

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    4 shorts, it kept getting knocked back around 6195 for last couple weeks so I was expecting a downward retrace soon. Fridays rally up left me hanging on by the skin of my teeth.
     
  7. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    I reckon it will open around 6270, but watch the es open for clues. It should close the gap by days end though.
     
  8. greggles

    greggles I'll be back!

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    I've got no dog in this hunt, but the US market did rally Friday so a modest rise is probably on the cards. You never know though. Anything can happen and probably will.
     
  9. gaius

    gaius

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    I say 6400. Trade war came and gone, nothing here to slow the market now.
     
  10. Darc Knight

    Darc Knight

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    I was thinking about this last night. What about this friction between Nth Korea and Trump Admin. Little bearing on Market you think?
     
  11. gaius

    gaius

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    I say there's nothing new about North Korea and Trump, everyone expected this.
     
  12. gaius

    gaius

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    I'm sorry, but your stop loss is going to be contributing to the rise.
     
  13. cutz

    cutz

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    Poor auction results over the weekend will weight down the banks and the ASX 200 index.
     
  14. gaius

    gaius

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    Only added 10~ points, how disappointing. But hey, what's the hurry? There wouldn't be any significant fall and there is always tomorrow.
     
  15. Darc Knight

    Darc Knight

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    You still with us @beemer ?

    Market kept rising today. Should continue tomorrow unless something changes???
     
  16. beemer

    beemer

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    Yeh, i got cleaned out this morning, 15 grand ughhhhhh
     
  17. Darc Knight

    Darc Knight

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    Sorry to hear :( Hopefully you can make it up at some stage.
     
  18. cutz

    cutz

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    Shame,

    Only had to hold out for two extra days … it appears the slide is underway !
     
  19. sasch

    sasch

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    Hi Beemer,

    You did the right thing cutting your losses. You had your stop loss and you stuck to it.
    If you had held on for a few more days you would have rewarded a bad trade precedent and set yourself up for a catastrophic account draw down at some future time.

    Personally, I think the asx 200 chart looks very bullish at the current time and you would be swimming against momentum trying to short it. A base seems to be forming at around 6000, and unless ~5940 is broken the direction seems to be up. Instead, a good option, could be loading up long on decent pullbacks.

    The obvious play is shorting at this point, as historically this is a major resistance level, however, once this level is strongly broken through, who knows how far it can go up?

    I remember when the Dow Jones was sitting at around 12000-13000 points for quite a while, and many market pundits were stating the market was overpriced and it was going to go down!
     
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  20. RIP1

    RIP1

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    Trade with North Korea = Zero so short of A Bombs there is no Down side to failure and only upside if there is a win (more than zero trade). And even a win is unimportant as the entire economy of N Korea = 2/5th of F.. all
     
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