The Home Trading Blog

The XJO finished another week with a relatively low trading range and it has just taken out the high from the 11th January 2010. The big question is where do we go from here? My opinion is still that we are due for a week that shows a much bigger trading range that we are currently seeing. After seeing several weeks of gains in the market, I would think we are due for a downwards correction.

We are getting towards the end of the 53 week orb period for the XJO (what I see as the 53 week cycle) and my opinion is that it is now more likely that the new cycle started already at the beginning of February. If I am wrong than we are due for a minimum 500 point drop in the index within the next two months.

Now to the blog portfolio, we are tracking nicely again with the current profit increasing by more than one percent or two thousand dollars. They were no buys or sells last week. Out of our recent buys PDN still is the top performer being up by more than 12% since we bought it two weeks ago. On the other hand we have DJS with a loss of 9%.

Looking ahead to next week, I have SGM (Sims Metal Management) fulfilling all the HSC buying criteria according to my studies. The outside bar on the 19th March makes the green bar on the 12th March a valid peak and the monthly swing turned up this week.

Other than this there are no other stocks meeting either buying or selling criteria within the ASX 100.

The portfolio as of 9th April is: