ASX musings, observations, chat

Liquidity is good imo on stocks and spreads tight, I don't trade futures. The symbol for ASX200 is 'SPI.AX' but imo its weird, try finding SPI.AX data and charts on the internet, nigh on impossible, it can be found at https://au.investing.com/indices/australia-200-futures.
Also on barcharts.com under: https://www.barchart.com/futures/quotes/AP*0/interactive-chart
Broker fees on ASX imo are outrageously high, the ASX basically have a monopoly here and like a fox guarding the henhouse are self listed on the ASX.
The ASX also owns the SFE (Sydney Futures Exchange). In 2006 the Australian Stock Exchange merged with the Sydney Futures Exchange to become the Australian Securities Exchange. Its official name is ASX Limited.

There are approx 2500 odd stocks on ASX, lots of ETF's, also funds like realestate listed funds and money funds and what I term obscure stock options, mainly I think from speculative mining companies.

My observation of the ASX compared to USA markets, it's primitive.
The technology is primitive, the choices primitive.

But mining stocks is a little bit like the Wild West, quite volatile and can go gangbusters at times, that's why I view trading here an arcade game, a casino, gambling den.

The main stock forum (like et) here is called 'Hotcopper'.
Now imagine you are living in the 1800's, you live in Hillbilly Town, you are clueless, you are fallible to pump and dumpers, you carry a six shooter on your hip and chew bacca, that's hotcopper.
I use to only trade BB, OTC, Pinks, Amex and Nas <$5 long ago. I love great pumps and manipulation!
 
I'm expecting the shit to hit the fan on asx today, but imo, like a blowoff top, this is coming very close to a blowoff bottom.
 
..... I love great pumps and manipulation!
Same here, its all a big game, man I'm retired 8 odd years now, I'd prolly be either in a box 6 feet down or in a mental institution by now if I didn't have the wildwest asx to while away my time. There only so much fishing and swimming you can do, but the asx casino is endless.
 
Same here, its all a big game, man I'm retired 8 odd years now, I'd prolly be either in a box 6 feet down or in a mental institution by now if I didn't have the wildwest asx to while away my time. There only so much fishing and swimming you can do, but the asx casino is endless.
They’re a blast! You think Jonny was better than Timmy Sykes? I think that would have been a matchup in 2000 like Spy vs Spy.



TIL 15-year-old Jonathan Lebed was making up to $74,000 a day in the stock market by using internet message boards to manipulate prices. The Government eventually went after him, but he was able to keep half a million dollars of his gains.”

NYT 2001
 
Changing the subject slightly, these geezers are interesting..... but prolly not to everyones taste.
These dudes run videos twice a week I think...?
Typical Australian, 99% about Australian mining, entertaining and informative, they often have guest speakers, fundmanagers, company bosses on their show.
If you love Australia, trading, mining, this is worth following imo.
My wife, she's Asian, loves these guys, hehehe :)
 
Mick do you remember Jonny Lebed?



TIL 15-year-old Jonathan Lebed was making up to $74,000 a day in the stock market by using internet message boards to manipulate prices. The Government eventually went after him, but he was able to keep half a million dollars of his gains.”

Reddit 2001 NYT notes
 
You might be right with your call on the low being close Mick. Xjo finishing at support region and you can see the lime green bars showing up as well which usually shows some form of a bottom.

chart1.PNG
 
I track about 185 hot stocks and the Asx indexes, uranium as usual did ok, plus lithium plus iron ore.
Only about 40 green out of 185.

They've been hyping iron ore as the sector most likely to be bearish this year. Lithium stocks also are shorted to billyoh, but they were looking ok today.
The one stock I reckon is safe going ahead into the future is STX, Strike Energy, gas from the Perth Basin. I once held Norwest Energy, penny stock in Perth Basin but Mineral Resources gobbled them up, dang.
I think local gummint is awaiting a decision on exporting WA gas.
 
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I track about 185 hot stocks and the Asx indexes, uranium as usual did ok, plus lithium plus iron ore.
Only about 40 green out of 185.

They've been hyping iron ore as the sector most likely to be bearish this year. Lithium stocks also are shorted to billyoh, but they were looking ok today.
The one stock I reckon is safe going ahead into the future is STX, Strike Energy, gas from the Perth Basin. I once held Norwest Energy, penny stock in Perth Basin but Mineral Resources gobbled them up, dang.
I think local gummint is awaiting a decision on exporting WA gas.
Great posting Mick, you’re a good teacher on ASX trading!
 
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