Its Over, page-486

First 486 Last

Share
Profile

Follow
1ronnie

29,146 Posts.

2493

04/12/18

16:14

Post #: 36746867
Share

Co

Originally posted by 1ronnie ↑

The 287pt Dow gained overnight didn't translate into a positive day for the ASX because the ASX has the luxury to look ahead. So yesterday's large ASX gain was on the back of a very strong futures pointing to a 400+ pt gain. Now Dow futures is back -140 in the red.

In fact the ASX at the close is almost back to where it began yesterday, albeit a little higher and at the moment struggling to break the ASX200 200 day MA.

And as I mentioned early this morning, some stocks may not perform despite the relief rally. Examples include LVT which is in a downward trajectory and FYI, a covered stock previously that is down almost 13%.

It is certainly great if you finish in the black on the day the indices are in the red, and conversely you wont be a happy camper if you're in the red when the indices are strongly up. The market may recover but the market is also discerning (on which stocks go up) as its still risk off , despite prospect of a possible Xmas rally ahead. And for that reason, IMO it is not as bad an idea to stay sideline if it is going to end up as a zero sum game (e.g if you buy 5 stocks, win on 2 but lose on 3 with losers outweighing winners).

Speculators will never learn, always chasing up stocks on an announcement they have not had enough time to analyse. An announcement even as good as NUH initially greeted with overwhelming response finally succumbed to incredible scepticism. But it is back up today. Sentiment remains fragile to say the least. Same thing happened to BIT but at 14.5c now, no one seems to be chasing as much. The announcements both companies made remain as-is , question is how much of the upside will materialise - you got chosen into 'Who wants to be a millionaire'- can you now win and win big? But its a good place to be at. Many other wannabes are still struggling to get a foot in, and in the process ever "buying time" with their holders to be patient with them and dishing out Powerpoints to give restless holders some excitement over possibly nothing.

Expand

correction- RISK ON
Upvote

0 Great analysis

Reply

Top Stories

LEX

Lefroy Exploration kicks off gold toll milling at Lucky Strike

Here's the 10 company earnings that matter to come in February for ASX investors

Listen: HotCopper Wire Podcast #041 – Our first RBA rate hike since CY23

RTR

Rumble making a noise at Western Queen gold project with 'fantastic results'

STO

NZ gov't bites bullet and confirms LNG import plans to help 'exposed' elec sector

There are more pages in this discussion • 564 more messages in this thread...

First 486 Last

Its Over, page-486

Lefroy Exploration kicks off gold toll milling at Lucky Strike

Here's the 10 company earnings that matter to come in February for ASX investors

Listen: HotCopper Wire Podcast #041 – Our first RBA rate hike since CY23

Rumble making a noise at Western Queen gold project with 'fantastic results'

NZ gov't bites bullet and confirms LNG import plans to help 'exposed' elec sector

Featured News

Featured News

Its Over, page-486

Top Stories

Lefroy Exploration kicks off gold toll milling at Lucky Strike

Here's the 10 company earnings that matter to come in February for ASX investors

Listen: HotCopper Wire Podcast #041 – Our first RBA rate hike since CY23

Rumble making a noise at Western Queen gold project with 'fantastic results'

NZ gov't bites bullet and confirms LNG import plans to help 'exposed' elec sector

Featured News

Featured News