cobran20

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It's the triple D problem - the Dubai Debt Default!! biggrin.gif

And I thought that the PPT had a day off yesterday due to the public holiday...

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...Either that or the smart money already knew of Dubai and began exiting ahead of the herd.

As I read this article I thought of your statement:

http://www.smh.com.au/business/another-crisis-looms-over-the-world-20091127-jwtx.html

In recent months Leighton's boss, Wal King, has been distancing the company from Dubai, stressing the company earns more in Abu Dhabi and Qatar.

I guess this is where traditional brokers would say they were paying attention to Wal and immediately moved out of Dubai based risk and tech analysts would simply see Leightons (and other insiders) manoeuvrings to remove their own exposure in the pattern of the activity of the day.

Is that a fair description of TA?

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It's the triple D problem - the Dubai Debt Default!! :D

they haven't defaulted yet, got a few months to do something.

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As I read this article I thought of your statement:

http://www.smh.com.a...91127-jwtx.html

I guess this is where traditional brokers would say they were paying attention to Wal and immediately moved out of Dubai based risk and tech analysts would simply see Leightons (and other insiders) manoeuvrings to remove their own exposure in the pattern of the activity of the day.

Is that a fair description of TA?

Sounds reasonably fair. The major turn in prices occur before they appear on the news. Other than looking for the pattern, large volume also gives a clue that somebody big is buying/selling.

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The country that first tried Quantitative Easing is on its way to test its 2009 lows. IMO, it will make new lows before its bear market is over and it has already been in a downslide for 20 years.

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Next stop for the Dow should be a meeting with the lower trendline. Note the piss weak volume on which it rose this month.

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Cobran - Should we expect the ASX to be heading significantly downwards in the coming months? If so how soon, are we talking now or in several months.

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Cobran - Should we expect the ASX to be heading significantly downwards in the coming months? If so how soon, are we talking now or in several months.

If it breaks below the trendline, next stop should be the 4000-4200 mark.

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If it breaks below the trendline, next stop should be the 4000-4200 mark.

The last 2-3 months trading looks like setting up for a head and shoulders top. Breakdown of that top measures down to about 4000 or so.

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Won't we just follow the Americans firehawk?

Follow them how? That's it's finally time for our property prices to take a tumble following the US property price bust? :D

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The last 2-3 months trading looks like setting up for a head and shoulders top. Breakdown of that top measures down to about 4000 or so.

Yep, that has been on my mind as well. It needs to break the neckline at a bit over 4500 first. So far, the ASX has printed a lower high. So it is a further sign that a correction is most likely ahead.

The US was closed on Thursday and it was half day trading on Friday. So what happens tonight will be interesting. I noticed that the DAX & FTSE had a positive close on Friday. So we may get one as well today.

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IMO, 0% chance of a rate rise tomorrow.

That has been my opinion. Things seem to have wonky legs again at the moment, and will the unbias RBA board want to spoil their vested interests as Christmas time?

Media has been banging on about an unprecedented rate rise tomorrow. How can something be unprecedented but have happened 19 years ago. Gooder Engrish OzTV.

RBA surprise me, put it up again.

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If it breaks below the trendline, next stop should be the 4000-4200 mark.

The ASX did yesterday what some of the European indices (FTSE, DAX) did on Friday - had a large rally. The US indices did no follow through to the downside overnight. So it doesn't look like there is any hurry to drop. This could be setting itself up as a congestion/consolidation before another rally. The stats show that November - April/May are traditionally the best months for US indices (with exceptions of course). So we could be climbing the wall of worry. I'll stick to watching the trendline!

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That has been my opinion. Things seem to have wonky legs again at the moment, and will the unbias RBA board want to spoil their vested interests as Christmas time?

Media has been banging on about an unprecedented rate rise tomorrow. How can something be unprecedented but have happened 19 years ago. Gooder Engrish OzTV.

RBA surprise me, put it up again.

The 90 day yields rose yesterday and are up today (see attached). But I still don't see it enough to project a rate rise today. We'll find out in a couple of hours.

post-148-12596227675202_thumb.jpg

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The 90 day yields rose yesterday and are up today (see attached). But I still don't see it enough to project a rate rise today. We'll find out in a couple of hours.

Why didn't the market give the advance warning it usually does? shocking.gif

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Why didn't the market give the advance warning it usually does? shocking.gif

Glenn was lurking this thread and wanted to make a point.

Reflexivity...

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Alternatively, the All Ords could be in a symmetrical triangle. Just have to wait an see which way it breaks.

It could well be that but the breakdown measurement of the possible symmetrical triangle is not that different to the head and shoulders breakdown target.

We'll see if the RBA prints enough cash to drive the break upwards.

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Glenn was lurking this thread and wanted to make a point.

Reflexivity...

Go Glenn, tell me what for!

I am not convinced he and other board members have the cuhoonis to put rates back up to neutral levels. Prove me wrong punks.

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