tag:blogger.com,1999:blog-40952628086270317862012-02-03T14:12:27.327+10:30Market Ninja follows the ASX, discussing techniques I use everyday to trade the Australian Stock Exchange(ASX). Trend, swing trading, momentum, fundamentals and candlestick techniques will be discussed.Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.comBlogger871100tag:blogger.com,1999:blog-4095262808627031786.post-10769655489140549312009-03-17T07:14:00.001+10:302009-03-17T07:14:00.322+10:30

XAO - All Ordinaries    The All Ordinaries again closed under 3300, the market has clearly met resistance at the January low.  Stochastics, RSI(2) and CCI(14) all showing oversold.  A quick scan of the ASX 20 stocks will confirm that most stock individually are displaying the same oversold signs.  The medium term trend line was also respected.  The market may be headed to retest lows if it

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com44tag:blogger.com,1999:blog-4095262808627031786.post-78966971015063897382009-03-14T21:12:00.001+10:302009-03-14T21:12:14.378+10:30

XAO - All Ordinaries   The week started off bad for the index, but turned out to be one of the better weeks to be long, closing up around 6% for the week.  The chart above shows that the short term trend line was broken. The medium term trend line will be tested this week. Resistance will be tested this week. Although the market finished up 3.3% of Friday, the market is

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com3tag:blogger.com,1999:blog-4095262808627031786.post-47961259901943426952009-03-10T21:10:00.001+10:302009-03-10T21:10:59.491+10:30

XAO - All Ordinaries The All Ordinaries closed at 3143.2 (+0.7%) today after again testing below 3100.  Strength again was shown below this level and the market rallied from 3090.8, finally closing on its high. The biggest fall recorded in the Australian job ads survey since 1999 was release today with a huge 10.4% fall in February.  The Reserve Bank of Australia (RBA) maybe

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-71063257294156134542009-03-09T20:29:00.001+10:302009-03-09T20:29:56.336+10:30

      XAO - All Ordinaries Some intraday action today for the All Ordinaries with a low of 3052.5, finally closing up 10 points to 3121.7 (0.3%). The big miners lifted the index with BHP up 5.31% and RIO Tinto up $3.93% FMG and RIO both sought to strengthen their balance sheet today. F ortescue

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-91193808327107171362009-03-05T20:54:00.001+10:302009-03-05T20:54:36.877+10:30

XAO - All Ordinaries  The DOW closed up overnight 149.82 points to 6875.84 (2.23%) after 5 days of selling.  The Dow failed to break back through 7000.  The All Ordinaries has  had an un-eventful day failing to regain the lose of the previous trading day.  The XAO closed up 21.2 points to finish at 3147.1 (0.68%).   I was looking for the high of the previous day (3171.4) to be taken out and

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com135tag:blogger.com,1999:blog-4095262808627031786.post-30043768701207082982009-03-04T22:32:00.001+10:302009-03-04T22:32:27.494+10:30

XAO - All Ordinaries The first decline in Australia's GDP for eight years was reported today with a fall 0.5 per cent in the December quarter.  The All Ordinaries followed to close at a five and a half year low to 3,125.90 or 1.43%. Fears of recession took hold of traders with the next 6 months looking a lot gloomy, and all sectors took a hit. 

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-67505848933132709362009-03-03T22:15:00.001+10:302009-03-03T22:15:49.983+10:30

                XAO - All Ordinaries   The DOW slid to 12-year lows overnight to its first close below 7,000 since May 1997.  The All Ordinaries closed at down 32.4 points to 3171.4 , the lowest level since December 2003. Two-thirds of the

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-70335523323516333052009-03-02T16:46:00.001+10:302009-03-02T16:46:54.264+10:30

    XAO - All Ordinaries The All Ordinaries closed down 96.4 points to 3200.5 (-2.92%), on news US the economy shrank at its fastest pace in more than a quarter of a century.  The low for the day was 3190.7, the lowest level in 5 years. The RBA board will hold its monthly meeting tomorrow, with some predictions of another 100 basis points

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-53241899586688313142009-03-01T20:02:00.010+10:302009-03-01T20:39:24.574+10:30

XAO - All OrdinariesThree trading days in a row closing below 3300, with multiple attempts to break through. All trends on the XAO still pointing down.WOW - WoolworthsWow indeed. Late last week I highlighted Woolworths ... made the critical mistake of not checking the economic calendar. Earnings come out below expectations and gapped down well under my stop loss (open $26.9). Take the hit on

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-42055211084911058902009-02-25T22:46:00.006+10:302009-02-25T23:12:32.875+10:30

XAO - All OrdinariesAll ordinaries closed below 3300, and below low from 23/01/2009, to finish the day at 3281.5 (-0.7%). Could see a retest of the low of 3201.5 and creating a new down-swing. March 2003 low of 2700 in reach from here. XAO started the day positive on open, and continued to slide throughout the day. Nikkei 225 finished the day up 2.65%. Looking to the DOW now to see if it can

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-81980201363146566352009-02-24T15:54:00.002+10:302009-02-24T15:56:56.518+10:30

What every trader strives for is a low-risk, high-reward system that consistently produces results. Fundamental and Technical analysis are the two main schools of thought in the financial markets that will allow a trader to achieve this. Within these are vast range of systems and techniques that a can be utilized. A selection Fundamental Analysis styles include Value, Contrarian and Growth.A

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-5587233891252576252009-02-23T22:20:00.005+10:302009-02-23T22:43:20.721+10:30

XAO - All OrdinariesA fall of 1.5% to 3,304.10 keeps the index above the years end-of-day low of 3000.2 (23/01/2009) helped by a strong close. The index was down over 80 points during the day. Big miners were down including ex-dividend BHP down $1.20 to $29.31 and RIO down $3.42 to $46.87.RIO - Rio TintoRIO closed below support (although not on strong volume) indicating a test of the lower

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-59813084246043591152009-02-22T21:04:00.008+10:302009-02-22T21:31:40.592+10:30

XAO - All OrdinariesNot much changed from last Tuesday. Closed on or just below the short term support line. DOW closed Friday down 100.28 (-1.34%), breaching a 6-year low. Latest news from Business Speculator indicate a week for the bears "With indexes at multi-year lows, the focus will be on battered banks Citigroup and Bank of America, two of the cheapest stocks on the Dow, after a top US

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-57474558280656639422009-02-17T20:55:00.009+10:302009-02-17T21:19:18.858+10:30

XAO - All OrdinariesThe All Ordinaries closed at 3,412.200 today, a 49.1 fall or 1.42%. The day started sideways, with a sell off after lunch. Last weeks test of the 50MA failed (3500 level), and indicators showing signs of short term oversold levels. The US markets were closed yesterday.IRN - INDOPHILI added IRN to my watch list today. Breaking 50MA on above average volume (up $0.02 or 7.14%

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-49005054176381082152009-02-11T20:43:00.007+10:302009-02-11T20:53:18.830+10:30

RIO - RIO TintoAs indicated in Chart Watch 2009-02-7, RIO Tinto had potential to break through short term resistance. Today RIO had a strong positive candle above this resistance on above average volume. Target $60, but may fall short in the pulse.Making LowsA range of stocks are either testing, or made new lows today. Included in this list are AMP, are ANZ and are WES.AMPANZWES - Wesfarmers

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-25662999325451761262009-02-10T08:28:00.004+10:302009-02-10T08:36:57.773+10:30

XAO - All OrdinariesWith a close +38.30 (+1.12%) yesterday, the All Ordinaries has closed on the November-February trend line. 50MA also resistance at this level with a break targeting 3700.No lead from wall street over night with the DOW, NASDAQ and S&P 500 closing flat as investor wait for Washington to decide their stimulus package fate, like the Australian.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-47462931411039067062009-02-07T11:53:00.003+10:302009-02-07T11:59:58.813+10:30

RIO - RIO TintoRecently broken trend-line dating back to September 2008.Broken through 50-day moving averageVolume increasing past couple of weeksShort term support around $36.30What for RIO to close above $46.93. A close above this could indicate a move up towards resistance of around $60.00

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-19863780948123191792009-02-06T20:24:00.005+10:302009-02-07T09:14:05.214+10:30

BRM - Brockman ResourcesA recent trade, which I am still holding, is Brockman Resources. Explaining my reasons1. Mid term the stock as come of a strong base, between October and start of January2. A strong short term break out occurred on strong volume to a high of $1.17 (16th Jan)3. Close on 15th and 16th both closed below 50MA4. Stock pulled back on low volume back to the 38.2% Fib, and into

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-11326328133518463852009-02-05T21:02:00.003+10:302009-02-05T21:14:37.702+10:30

After a fall from 6000 down to 1800, the Shanghai Composite Index has fallen a long was since August 2008.Colin Twiggs has chart showing the downward channel on the weekly chart has been broken, and the down-trend is weakening.XAO IndexOur index as demonstrated below, is yet to break out this downtrend.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-76557408615865098262009-02-03T12:20:00.002+10:302009-02-03T12:23:42.910+10:30

$42 Billion Stimulus AnnouncedMost Australians will be focused on the following"About 8.7 million workers will get a lump sum tax-free bonus, depending on their annual income.Those earning up to $80,000 a year will receive $950, those earning between $80,000 and $90,000 will get $650 and those earning between $90,000 and $100,000 get a $300 bonus.Single-income families who receive the Family Tax

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-42623831588471232009-02-03T08:43:00.005+10:302009-02-03T08:51:06.482+10:30

Looking forward to the rate cut later this today . Tips have ranged from 1% up to a high of 1.5%. Michael Pasco discussed the possibility of 1.5% today with Mel and Koshie on Sunrise.Trading has been slow of late with my work, website freelancing and family commitments ramping up. BRM and TAP are to recent pullbacks that I'm on and both have been a little slow. BRM had a good day yesterday so

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-84988013977691810652008-12-17T08:30:00.002+10:302008-12-17T08:33:43.568+10:30

US Fed rate has been cut to virtually zero, lowering its target federal funds rate from 1.0 per cent, already at a historic low, to a range of zero to 0.25 per cent. Locally, the ASX looks to have a strong open on this lead after consolidating the past week.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-78189735620769668022008-12-09T20:00:00.005+10:302008-12-09T20:23:15.888+10:30

Sounding like a broken record but another good lead from the US (DOW, S&P 500 and NASDAQ all up over 3%), but this time the ASX could not manage to follow through. The S&P 500 looks to be testing the 50MA, so the next couple of days should be interesting, especially to see if the market can shake off any further bad news.Bad news seems to be plentiful for the Australian Market* Commonwealth Bank

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-39485105012067623782008-12-09T12:35:00.002+10:302008-12-09T12:36:11.821+10:30

Great visual representation of how the global economic crisis played.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-1727197287052703232008-12-08T21:14:00.005+10:302008-12-08T21:24:51.418+10:30

XJO - ASX 200After a good lead from the US (DOW, S&P 500 and NASDAQ all up over 3%) shaking off some negative job data, our market has followed through with a 4% gain, also shaking off the ANZ job ad numbers. XJO ended the day at 3631.60 (up 4.06%).Some other of the negative news out today which the market seemed to ignore include;BHP may require to cut iron ore productionRIO could cut thousands

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-36881552375100367372008-12-03T16:46:00.002+10:302008-12-03T16:50:27.312+10:30

XJO - ASX 200After a good lead from the US (DOW, S&P 500 and NASDAQ all up over 3%) ended the day flat, but not before riding the days roller coaster. High of 3621 on open, low of 3499 just before lunch, back up to 3605 a couple hours before close to finally finish at 3533.Chart mainly un-changed with what looks like a new swing low after failing to breach the 50% retracement mark. Stocks to

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-69421391858326035992008-11-30T21:35:00.006+10:302008-11-30T22:13:04.849+10:30

XJO - ASX 200XAO - ALL ORDINARIESThe XJO closed 3742, above the low of the 28/11 of 3724, but still below the 50% retracement of 3777. The story of the XAO with a close of 3672 shows a similar story but below the 28/11 low of 3693 and 3760 50% retracement. The market will test this area, probably on Monday after a strong close of the week for the DOW and S&P 500 (NASDAQ flat). Respect of this

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-53322371974351085102008-11-27T23:02:00.004+10:302008-11-27T23:09:12.005+10:30

Short term resistance at 38.2 Fib level. Breaking this, looking at next level which is coincides with the 50% Fib and low on the 28/10.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-80070813409772999052008-11-27T09:41:00.001+10:302008-11-27T09:43:40.909+10:30

Great read for people interested in BHP. BHP is one of my favorites for my long term portfolio."As a result of the board’s decision, BHP is going to emerge from this episode in the commodity cycle in a position even stronger than the one in which it went into the bullmarket in commodities.""BHP, with minimal debt and strong cash flows, will be able to absorb whatever pain the downturn generates"

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-87455332669936498832008-11-26T11:44:00.002+10:302008-11-26T11:52:08.609+10:30

Yesterday Oz Minerals sent a six page statement to the ASX detailing hundreds of millions of dollars of changes and cuts. OZ Minerals says not only has it deferred a number of development projects and has entered negotiations to refinance debt.Martabe gold project in Indonesia : suspendedSepon Copper Project in Laos : deferred work until after 2009 Dugald River zinc project in Queensland : not

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-31253040131010341322008-11-25T20:43:00.002+10:302008-11-25T21:02:40.965+10:30

The bids off for RIO, according to the latest release by BHP. Citing worsening market conditions and divesting demands from the European regulators, the $US66 billion ($A104 billion) bid has been pulled sending RIO price down 37% in early London trade.Marius Kloppers, BHP Billiton’s CEO, said:“We have previously said that similar cultures and the overlap of key assets andinfrastructure make this

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-16709570167045825512008-06-12T07:34:00.007+09:302008-12-12T05:16:05.407+10:30

XJO - ASX 200BHP - BHPAMP - AMPRespecting the 100MA and looks to be forming a triangle, looking for a break lower.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-38914619577100926292008-06-03T22:20:00.005+09:302008-12-12T05:16:05.782+10:30

XJO - S&P ASX 200XJo showing signs of weekness again with the current trend line being broken. Looking at 100MA for support now.XJO - S&P ASX FinancialsXFJ was a great short on the 22nd of May. 100 MA resisted the uptrend and also broke the current uptrend.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-6683869935674221782008-06-03T16:11:00.001+09:302008-06-03T16:12:36.713+09:30

Please see my Blog discussing setting a stop loss . The latest post is using ATR as a stop loss.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-44980224782281002742008-05-29T22:06:00.005+09:302008-12-12T05:16:05.979+10:30

XJO - S&P ASX 200As displayed in my last post , the XJO was sitting right on a current trend line. This line has since been breached. XJO now lookig for support at the 100MA, and the 32.5% Fibonacci Retracement.On the 5/4/2005 Colin Twiggs indicated potential resistance at the 5900-6000 level which looks to be playing out."The All Ordinaries broke above short-term resistance at 5450 on heavy

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-61153972546899289572008-05-25T17:18:00.008+09:302008-12-12T05:16:06.349+10:30

XJO - S&P ASX 200XJO sitting right on its current trend line.CMR - Compass ResourcesSecond pullback for CMR after breaking out. Optimal entry would have been the first pullback after breaking the 100MA.AGO - Atlass IronAfter a sharp stron volume rally, prices have pull back on weaker volume. Looks to be forming a bullish pennant.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-28041424492306791712008-05-19T21:04:00.003+09:302008-12-12T05:16:06.810+10:30

FLT - Flight Centre LimitedSwing low in October 2007 and March 2008 was broken with a 7% fall on the 5th of May. FLT has since retested this breakout and looks like it has held. Possible resistance around $18.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-41066302805765872232008-05-17T22:36:00.005+09:302008-12-12T05:16:07.395+10:30

My watch list for the weekABY - Aditya Birla Minerals LimitedAfter breaking out on the 19/04/08, ABY has been cosnolidating. Look for a break of this trading range.BBP - Babcock and Brown PowerHigher highs, and lower lows ... also has broken the 100MA with ADX showing signs of a trend. Look for a pullback between the 10MA and 30EMA for another entry.NAB - National Australia Bank LimitedThe

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-7072866645729347602007-04-02T20:37:00.000+09:302008-12-12T05:16:07.727+10:30

Long delay since my last real post. Like most people I've had a extremely busy couple of weeks with weddings, family, football and work. Currently getting ready for a trip to Dallas so the next couple of weeks are not going to get any better.A couple of my holdings are currently at areas of interest so I thought I would post their charts.Industrea - IDLIndustrea is a stock I have been following

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-69799465664161365062007-03-21T19:44:00.000+10:302007-03-21T20:05:47.361+10:30

Although it's been available for a while now, the My Yahoo! Ticker Beta is an option for people wanting stock news and quotes fed to their desktop. Quotes and headlines are delivered direct to your windows task bar allowing you to continue working while maintaining contact with the market. RSS feeds can be setup over a range of topics, not just finance. Email notifcation, weather forecasts and

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-87278676543348761672007-03-13T21:23:00.000+10:302007-03-13T21:28:54.794+10:30

I new beta web site is available for viewing called Stock Trader TV. It's an interesting idea that extends on Alpha Trends and You Tube.Looks like they have a few high profile sponsors so it will be interesting to see the first Australian trader to provide video trading commentary in a similar style.Sponsored By: Agloco - Own the Internet Get paid to surf the web!

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-71249653203309269572007-03-12T14:49:00.000+10:302007-03-12T15:00:45.619+10:30

Google has revamped it's finance page. Although clearly targeted towards the US market a useful feature of the redesign is the addition of You Tube. Daily videos are made available from Reuters, Forbes and other media outlets. You Tube is becoming a useful tool for people interested in world markets with videos available about forex, equities and business dealings. It would be great to see

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-73604315965954942662007-03-07T21:54:00.000+10:302008-12-12T05:16:07.894+10:30

A Three Inside Up Pattern occurs after a 2-day bullish harami pattern. To form the Three Inside Up pattern, the third day is a white day with a higher close than the second day. The three inside up pattern turns a low-reliability bullish harami into a high probability reversal pattern. The All Ordinaries have formed this pattern on the last two pull backs in the recent uptrend. The current

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com5tag:blogger.com,1999:blog-4095262808627031786.post-67881298572217759192007-03-06T20:59:00.000+10:302007-03-06T21:43:57.941+10:30

The backflip occurred quicker than anticipated. Mr Mike Rann, The South Australian Premier, has declared he wants a referendum on the issue of nuclear power for South Australia. This comes after a week earlier saying it would be an "all-round disaster" if a plant was built in his state.Mr Rann told Australian Nuclear Energy Pty Ltd, the private company behind building the proposed nuclear power

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-87530340346153766132007-03-05T09:04:00.000+10:302007-03-05T09:09:06.804+10:30

Didn't realize CQT was in a trading halt, so this one is a hold in the ASX Opportunities until it comes out and we see what direction it takes... Current stop loss is at $0.795, last close at $0.81.Sponsored By: Agloco - Own the Internet Get paid to surf the web!

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-87903882690009381802007-03-04T22:03:00.000+10:302007-03-04T22:55:29.669+10:30

The psychology of the market has shifted, highlighted by The Stock Bandit in a post titled When Bulls become Sellers. Its an interesting post about the current market conditions and how traders change direction in uncertain times. "Those same bulls are now much more likely to become sellers into bounces. Will they sell at the first sign of higher prices? Yes, some will. Will some of them try to

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-72281121379221661252007-03-04T07:41:00.000+10:302008-12-12T05:16:08.298+10:30

Along with the All Ordinaries, the handful of stocks I have been following have taken a hit this past week. I agree with MATT O'SULLIVAN - SMH article. I'm anticipating further declines but still old a bullish view overall. The market needs to have a shake out to keep investors and share prices inline. With that view CFX, CQT and IDL are being stopped out. We will continue to follow CHC, as it

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-80433148947688744432007-03-01T16:23:00.000+10:302007-03-01T16:26:15.163+10:30

EBI didn't recover today with a close at $4.40. EBI had an intraday high of $5.25 on the 26/2/2007 and the trend has definitely broken. I highlighted this one as an ASX opportunity looking weak after yesterdays sell off. I'll wait until Monday before deciding on the others that closed below our stop loss.Sponsored By: Agloco - Own the Internet Get paid to surf the web!

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-45543301394604604152007-03-01T08:19:00.000+10:302007-03-01T08:31:24.581+10:30

Below is an image from The Wall Street Journal that shows the data glitch that occurred, causing the sell off to look more dramatic then it really was.The US market revived as Federal Reserve Chairman Ben Bernanke soothed markets, increasing investor confidence at least for the short term. China, The Dow, S&P 500 and Nasdaq Composite Index were all up yesterday and the ASX is expected to open

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-47386329580075044522007-02-28T16:03:00.000+10:302007-02-28T16:35:41.323+10:30

The All Ordinaries closed down 2.45% or 148.1 points, matching the losses of China, US and Europe. Although IDL and EBI closed below our stop loss I'm inclined not to recommend any sells until we view the close of US market tonight, but EBI is a possible sell based on its close. We noticed a lot of the ASX opportunities closed higher from the early sell off, with CHC the only stock closing

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-86832052523206997592007-02-28T08:30:00.000+10:302008-12-12T05:16:08.583+10:30

How is the market going to react today. The DOW dropped 416 points (3.29%), with as much as 546 points during the days trading before recovering. This was the biggest days drop since the Sept. 11, 2001, terrorist attacks.Trader Mike discusses how traders on the floor alleged bad data with "some sort of technology bottleneck was responsible". The ASX will be looking at a similar drop based on

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-83277040993163496602007-02-24T08:47:00.000+10:302008-12-12T05:16:09.815+10:30

Added yesterday as an opportunity, CFX reached an intraday high of $2.50. Our stop has been moved one cent higher to $2.40. Charter Hall - CHCCHC has been very active over the past couple of days after the release of the first half results which were very encouraging. NPBT increased from $7.8m (1H FY 06) to $16.7m (1H FY 07). A complete list of key activity is outlined in their interim results

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-9874325568141332262007-02-23T08:18:00.000+10:302008-12-12T05:16:09.958+10:30

CFS Retail Property Trust - CFXCFX looks to fit our entry criteria. Reached a high of $2.51 on the 13th of February and has since pulled back to $2.45. The count back line looks to be a good indicator for CFX without a break in the past couple of months. Volume is consistently high and with an entry now we can gain a tight stop loss.Entry $2.45, Stop Loss $2.39.Sponsored By: Agloco - Own the

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-21010344684843017372007-02-19T04:09:00.000+10:302008-12-12T05:16:10.120+10:30

Alpha Trends has a great video on the US ETF's available for gold.Posted below is the chart ASX:GOLD which allows Australian traders easy access to the gold marketSponsored By: Agloco - Own the Internet Get paid to surf the web!

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-74634683771640257272007-02-17T07:32:00.000+10:302008-12-12T05:16:10.213+10:30

A three inside up pattern occurs after a 2-day bullish harami pattern. To form the Three Inside Up pattern, the third day is a white day with a higher close than the second day. The three inside up pattern turns a low-reliability bullish harami into a high probability reversal pattern.Mikoh Corporation Limited - MIKMIK has pulled back from it's high of $0.48, contracting the short term group.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-59470490103140162122007-02-17T02:45:00.000+10:302007-02-17T03:01:40.688+10:30

Indusrea - IDLIndustrea keeps making new highs. Our stop loss again gets moved up, now at $0.35 which puts IDL into profit. For the fundamentalists there is a lot of infomation available about the IDL story, including an article in the Smart Investor. This information can be download from Industrea websiteEastern Star - ESGis in a trading halt, keep on eye in the news if you can as the stock

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-73614269458274249252007-02-15T05:57:00.000+10:302008-12-12T05:16:10.989+10:30

Industrea – IDLIndustrea stop again has been moved, now at $0.335. A close yesterday of $0.365 and and intra-day high of $0.375.Bluglass Limited (BLG)Bluglass closed below our stop loss of $0.545 at $0.54 yesterday. The trend is looking week and an exit should be made tomorrow. It looked like support was going to hold at $0.55, but the I'm not confident the short term group will respond

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-53630781543989102302007-02-10T15:25:00.000+10:302007-02-10T15:34:38.449+10:30

My whirlwind tour of USA continues and I'm blogging from freezing Minnesota. Not my type of weather and looking forward to flying out on Sunday to Denver.A lot of the ASX opportunities finished higher and Friday with IDL's stop moving higher.Industrea - IDLIDL reached an intra-day high of $0.35 closing at $0.345. Our stop has moved up from $0.31 to $0.325 based on the count back line.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-57750611522744575562007-02-08T01:34:00.000+10:302008-12-12T05:16:11.656+10:30

Everest Babcock and Brown Alternative (EBI)Good spread between the long and short term group. Count back line has not been broken since uptrend started. Volume may be a bit low, and we have a tight stop loss defined. We'll add this as a trend opportunity, but we could have decided to watch the trading action over the next couple of days and I think we have a tight enough stop.Last Close $4.75,

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-77429369320170445362007-02-04T08:53:00.000+10:302008-12-12T05:16:12.116+10:30

Bluglass Limited (BLG)Has had a great run in January, moving up from a low of $0.39 to a high of $0.61. Has just finished its first pull back and looks to be returning to its uptrend.Last Close $0.58 , Stop Loss $0.55Conquest Miming Limited (CQT)Good separation of the short and long term moving averages, looks to have swung back to $0.79 and returning to its trend.Last Close $0.88, Stop Loss

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com2tag:blogger.com,1999:blog-4095262808627031786.post-61533612352275167672007-02-03T11:01:00.000+10:302008-12-12T05:16:12.896+10:30

I’ve been doing a lot of reading on swing trading, especially the blogs of Trader Mike and Taz Trader. Taz Trader’s strategy really intrigued me especially about the area he calls the TAZ. “The Traders Action Zone (TAZ) is a buy and sell zone on a chart that swing traders can use to identify possible reversals in a stock. This is just simply "area" that we look at to see if a stock that is in a

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-23114087705935775952007-02-02T00:20:00.000+10:302007-02-04T09:59:45.876+10:30

Well I've landed in Miami and unfortunately my luggage is still in Sydney. 8th trip in USA, 4th time my luggage didn't make it all the way with me. Hopefully it arrives tomorrow.We had some good moves in some our opportunities.Industrea – IDLClosed at $0.335, with an intra-day high of $0.345 reached past two days. Stop has been moved up to $0.31Eastern Star – ESGClosed at $0.335 with an

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-61712171101404021482007-01-30T12:31:00.000+10:302007-02-10T15:36:43.342+10:30

Well I'm going to be attending Super Bowl XLI this year in Miami. Flight leaves tomorrow. I'm lucky enough to have a job that flies me to the USA every 3 months or so to work in stadiums and arenas. Although I will be on-call during the game, most of the work is completed before hand so I'm hoping for a nice relaxing day watching one of the biggest sporting events in the world.I should be back

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-7111825458253875262007-01-29T15:49:00.000+10:302007-01-29T15:50:18.744+10:30

Well the bad run continues, AKK closing at $0.85 today below our stop loss of $0.89. The trend still looks strong, maintaining it's trend line.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-81725681059304438312007-01-26T13:04:00.000+10:302008-12-12T05:16:13.239+10:30

Eclipse Trader is a free open-source charting platform available from http://eclipsetrader.sourceforge.net focused to the building of an online trading system. The standard Eclipse RCP plug-ins architecture allows third-party vendors to extend the functionality, providing developer’s an opportunity to extend the functionality of the application. Like many open source projects, the range of

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-41097300312541062182007-01-26T08:08:00.000+10:302007-01-26T08:11:55.727+10:30

Bit of a detour from trading but I thought I would blog about a chance to help build AGLOCO – it is a Member-owned Internet community. Here is why I would like you to help. First – it is free. Second - it is quick and easy to join. Third – AGLOCO’s purpose is to get its members their share of the money generated on the Internet (i.e. you make money). And lastly – if you help build the AGLOCO

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-8828745277487040462007-01-23T18:06:00.000+10:302008-12-12T05:16:14.083+10:30

Couple of good days with the ASX opportunities and we have some stops moving up based on our count back line.AUSTIN EXPLORATION LIMITED - AKK Closed at $1.015, up from $0.88 at recommendation. Count back line moved up to $0.85 from $0.79.Industrea – IDLBounced nicely from the long term group, and stayed above out stop loss of $0.305. Current close at $0.325, but still below the $0.33

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-8118763145299054272007-01-21T19:45:00.000+10:302008-12-12T05:16:14.373+10:30

AUSTIN EXPLORATION LIMITED - AKK A Bullish hammer occurred on the 12th, which has a low reliability. It requires confirmation of the implied trend reversal by a white candlestick, a large gap up or a higher close on the next trading day, which occurred on the 15th with a bullish engulfing candle.As we can see on the chart we have clearly defined trend line, spread of the long term group and

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-9355985584700559532007-01-17T16:00:00.000+10:302007-01-17T17:17:31.216+10:30

MarketNinja has been up and running for around half a month so far. I thought it would be a good time to discuss some of the opportunities I have alerted readers to, and the dismal performance so far. I was alays nervous of this when starting this blog, hopefully this will turn around.Charter Hall (CHC)Added $2.25, stop $2.17Current $2.40, stop @2.23 Made a good move on the 12th but has reached

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-10448658465146909282007-01-17T15:47:00.000+10:302007-01-17T17:09:25.828+10:30

Envirozel Limited (EVZ) closed below our stop loss today of $0.385. Exit tomorrow.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-46033511363111386552007-01-17T15:13:00.000+10:302007-01-17T15:15:01.866+10:30

QuoteTracker is an extremely useful application if like me you sit at a computer all day and love watching price action. QuoteTracker interfaces with various data feeds, brokers and financial sites to provide you with real-time streaming data. Some of the feeds are delayed, but if you have a comsec or e-trade account you can put in your username and password and it will extract real-time

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-42136924345889358982007-01-14T20:39:00.000+10:302008-12-12T05:16:14.990+10:30

Alliance Resources (AGS)Alliance Resources (AGS) is an excellent example of Guppy Trend Trading. From its initial breakout from around 30 cents, Alliance has provided only two exits signals using the count back line as exit ($0.75 and $1.69). The exit signal that occurred at $1.69 was when a JORC result was delayed, now due early 2007. AGS has provided re-entry signals at $0.80 and now it

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com1tag:blogger.com,1999:blog-4095262808627031786.post-72829134055073403192007-01-11T20:54:00.000+10:302008-12-12T05:16:15.243+10:30

Riversdale Mining Limited (RIV) closed below our set stop loss today. As part of our trading rules we should look to exit tomorrow.Reconfirmation of the trend if the 3, 5, 8 EMA start to turn upwards over the next coulple of days. If you look close to the end of November this was the case. Traders with positions should close as per our trading rules. Reconfirmation of trend can signal a new

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-13325537206255562312007-01-10T23:38:00.000+10:302007-01-10T23:41:46.756+10:30

I’ve been reading a candlestick trading book and when I reached the end I was extremely disappointed. The book discussed the full range of candlestick formations, and the psychology behind them but it didn’t discuss how to trade the setups. No entry, exit or failure rules were defined. After coming to this conclusion about the book, I realized this blog has missed an important step on how I

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-87544819528033983682007-01-10T15:46:00.000+10:302007-01-17T17:15:26.705+10:30

Late seller closes ESG on our stop loss (0.275), but not below. We also had a intra-day low of 0.27.Short term trend was broken today, long term still looks intact. If it looks bad tomorrow I'll be looking for an exit.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-39360802245457664462007-01-10T12:21:00.000+10:302007-01-17T17:15:37.807+10:30

Entry opportunity provided today for aggressive traders with ESG falling below our stop loss and rebounding above. 0.285 available at of time of posting. This provides an opportunity with a close below 0.275 as our stop loss.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-63128729624523453252007-01-09T12:41:00.000+10:302008-12-12T05:16:15.443+10:30

First screenshot of the work in progress Market Ninja. The scanner, Market Ninja, is designed for me to easily download EOD data for the ASX and create scans to filter this data. There is still a lot of work to be done before it is ready to be released (freeware), but is currently in a usable state for my purpose. The idea of the scanner is to load data into columns. This is currently

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com3tag:blogger.com,1999:blog-4095262808627031786.post-83869402519597169962007-01-08T13:01:00.000+10:302008-12-12T05:16:15.568+10:30

Sunland Group (SDG) closed below our stop loss of $3.53. The rules say exit so out we go tomorrow.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-62688487821383747732007-01-08T12:50:00.000+10:302008-12-12T05:16:15.724+10:30

The ascending triangle pattern was broken today with a low of $5.35 reached. This swing low was equal to the last swing braking the ascending trend line. It is still interesting to se ehow this plays out.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-86155640025598360132007-01-08T11:04:00.000+10:302007-01-08T11:05:15.919+10:30

Managing risk is an important step to becoming a successful trader. To help manage risk we need to determine our entry price and stop price. Once these two values are known, we can determine before we enter a trade what risk we are willing to make. To help calculate my positions, I use a free position size calculator. This calculator allows me to calculate the amount of shares I require to own

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com2tag:blogger.com,1999:blog-4095262808627031786.post-10042935788694376102007-01-07T12:59:00.000+10:302008-12-12T05:16:15.910+10:30

Created by Ayamae, Stock Wrap Express Charts (SWEC) is a free charting, scanning and portfolio solution suitable for most traders’ requirements. The functionality provided is comprehensive compared to other solutions available on the internet. Ayamae are very pro-active with bugs and feature request and also maintain a wiki. They seem to understand that providing feedback, good and bad, is the

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-40221911473306151642007-01-05T20:50:00.000+10:302008-12-12T05:16:16.151+10:30

Compass Resources (CMR) is a favourite company of mine. I've been trading this for a while now and have been in and out a few times. Huntleys newsletters have been talking CMR up a lot lately, and investors are antcipating news of recent drill results and hopefully further confirmation of uranium supplies. The current chart development is very encouraging forming an ascending triangle.The

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-3354434252788561012007-01-05T10:33:00.000+10:302007-01-05T10:35:28.085+10:30

Kitco has an important article to read if you hold shares that participate in the copper market. Included is some interesting technical analysis.

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-67182526683396296262007-01-04T22:34:00.000+10:302008-12-12T05:16:16.839+10:30

Charter Hall (CHC)This is the first post about CHC (close $2.25)Count Back Line = $2.17Easter Star Gas (ESG)This is the first post about ESG (close $0.32)Count Back Line = $0.275Riversdale Min (RIV)This is the first post about RIV (close $2.20)Count Back Line = $2.07Sunland Group (SDG)This is the first post about SDG (close $3.66)Count Back Line = $3.53

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com0tag:blogger.com,1999:blog-4095262808627031786.post-17254670009353281292007-01-04T08:54:00.001+10:302008-12-12T05:16:17.051+10:30

The Count Back Line is a indicator I currently use as a stop loss for my trades. After using the Market Ninja software and finding a stock that fits the Guppy MMA indicator, I plot count back lines to my chart to see if this stock is a candidate to use this as a stop loss. Some stocks that fit the Guppy MMA are still too volatile for this trading strategy and I find that back fitting the count

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com84tag:blogger.com,1999:blog-4095262808627031786.post-38517996578880878102007-01-03T20:34:00.000+10:302008-12-12T05:16:17.211+10:30

Guppy MMA are extremely important to my trading style. For the past 6 months I have been trading using Daryl Guppy's 'Trend Trading' technique to trade the ASX. Multiple Moving Averages are important in this strategy to determine the trend of a stock. Gupp MMA consist of 2 groups of EMA's. The first group know as the 'short term' group consist of 3, 5, 8, 10, 12 and 15 day EMA's. The second

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com7tag:blogger.com,1999:blog-4095262808627031786.post-4640800501736336642007-01-02T21:29:00.000+10:302007-01-03T13:15:41.521+10:30

Market Ninja is a commentary of the development of my trading software, along with discussions about areas of trading, specifically technical analysis, to help the readers understand the aim of the software along with the techniques of trading I find important.My strategy is simple and easy to follow, but it isn't mechanical and requires the trader to have a simple understanding of technical

Alan McLeodhttp://www.blogger.com/profile/17546337905776872630noreply@blogger.com2