I am not a financial adviser so you should not take any part of this blog as being financial advice. Observing and interpreting charts is a hobby and so is this blog. The information in this blog is just my opinion, it may not reflect reality. Stock market investing is risky - you can lose all, or potentially more than all of your money given certain market conditions. Not only can you lose a lot of money buying shares, you can also lose a lot of potential profits by selling shares at the wrong time. So please do not buy or sell shares because of information in this blog. Whether you buy or sell shares is your decision as is the decision when to buy and sell. Do not risk any money you cannot afford to lose. Do not risk any money if you do not fully know and understand what you are doing.

Tuesday, April 12, 2011

All Ords takes a breather

Today we saw a sharp reversal. This should only be a minor correction that finds support in the 4890 to 4940 area. The XAO Indicator remains blue and breaking yesterday's high of 5070 will indicate a resumption of the move up. So if you wanted to take out some 'insurance' (such as with options or minis) against this being the start of a larger move down, yesterday's high would be a good place for a stop (and if taken out, to buy that 'insurance' back). Minis are a new product which I have recently discovered. You can get more information here: https://au.citifirst.com/downloads/CitiMinis-Trading-Guide.pdf. The chart below is a candlestick chart of the All Ords showing the likely area of support.
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