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Do I smell a deep red for Wednesday?

Discussion in 'ASX Stock Chat' started by moses, Mar 13, 2007.

  1. moses

    moses

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    Or is it just my imagination running riot?

    What think ye?
     
  2. numbercruncher

    numbercruncher Beware of Dropbears

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    I think you're on the money!
     
  3. bean

    bean

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    Yes went from 100% cash bought Gold and Silver and Uranium shares last week, went 100% in. Sold today at slight profits and losses. Now 75% cash. In Elliot wave terms is this the start of leg two down in leg one. DOW did get back to 38% of drop From last week today before falling away slightly.
    (don't fully understand elliot wave or 38% 66% or technical analysis) but all were not too good for today. However who knows market will do what it wants to.
     
  4. rub92me

    rub92me Don't look back

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    I just tossed a coin but I didn't like the answer, so I tossed it again. I think it will be slightly red, with a few green spikes. A bit like an angry hedgehog that had a fight with a green spray-can. I could be wrong though... ;)
     
  5. Atomic5

    Atomic5

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    Im having trouble with BHP as the biggest gainer WITH volume today.

    Historically you only get one bounce before it capitulates, but this market looks like it's going to fight like hell before anything gets to kill it.

    May rise and splutter and stumble some more.
     
  6. Kauri

    Kauri E/W Learner

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    The volume today is more to do with option expiry, pays to discount it 3rd thursday every 3rd month... the price is usually independant of this though...
     

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  7. Kauri

    Kauri E/W Learner

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    From Todays West Australian.....

    Stocks recover, but for how long?


    15th March 2007, 11:00 WST



    Australian stocks are higher today tracking gains on Wall Street overnight as hedge funds bought local shares ahead of today's expiry of the March quarter futures contract.

    Late this morning the benchmark S&P/ASX200 index lifted 90.1 to 5832 and the All Ordinaries collected 84.6 to 5811.9, making up the bulk of yesterday's more than 100 point slide.

    Yesterday the S&P/ASX200 index closed 123.1 points down at 5741.9 while the all ordinaries slid 116.7 points lower to 5727.3.

    It was the third time this calendar year the Australian market had fallen more than 100 points in a single day.

    Today on the Sydney Futures Exchange, the March share price index contract, which expired at noon, was trading up 66 points at 5,858 on a volume of 10,934 contracts.

    Aequs Securities institutional dealer Ric Klusman said the local bourse was following gains on Wall Street but warned this morning's gains could be tempered in the afternoon session.

    "This morning's gains are a bounce back from the US," Mr Klusman said.

    "People over there are saying that the situation on the sub-prime lenders wasn't as bad as they thought. But I'm not convinced.

    "Personally, I think that was probably a bit of a dead catter."

    Mr Klusman said the Japanese market had started well this morning but was starting to show signs of weakness.

    "The Nikkei has started up but I think it will roll over," he said.

    Despite the Australian market receiving a boost today from hedge funds, he believes local stocks could also be in for a rougher time.

    "The futures for the March quarter expired today and some of the hedge funds have got to buy stock, so that's helped push the market up.

    "But my gut feeling is the (Australian market) is going to roll over this afternoon."
     
  8. AnalysisParalysis

    AnalysisParalysis

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    Good call. How'd you know. Please educate me.
     
  9. numbercruncher

    numbercruncher Beware of Dropbears

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    He posted his prediction after the US markets had begun trade.
     
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