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Online Share Trading

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ABSA

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At 128?? whats the short term view on this 1??
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16 REPLIES 16
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looking overbought to me. The Banks in general, SBK, ASA, FSR are looking overbought. The Oscillators are in sell teritory. IMO
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divz
Super Contributor
Agree with Jono my indicators also giving sell signal
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I think that ASA, might retrace in the week coming,but it seems to have a major support of 11850..It tested that level trice lastweek and failed to break lower..What I cant understand is there fundamentals that would justify the share price??The results were "weak",yet this share has run up,sum 30% in a matter of months..There is alot of uncertainty regarding the bad loans etc..Does SA equity move in line with the US markets no matter what??resuls/earnings do not warrant any of the share prices of 99% of the Top40 shares..Maybe I am just reading to much bearish comments on Martket watch,but logic has to tell one that the market is dangerously overpriced in relation to earnings
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divz
Super Contributor
newbee i think it depends what you looking at short or long term investment me i just look at the here and now and trade on price as soon as you looking at past results and PE (which is quite low in relation to ALSH)then its a different story too many things too cloud your judgement.One thing ive learnt is keep it simple and ignore all the talk.
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resistance at R127-50 close (see chart like a year or 2 ago) im shorting, this markets going to collapse, watch it
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I certainly hope you ryt great caller,I am short and Im bleeding..but I have faith that sanity will prevail soon
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i shorted yesterday at 12765, was in the money at R124-50 but i think R114/R106 is next support..
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greatcaller im with you on this one.must say im getting nervous think the close will bring some clarity
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swordfish
Frequent Contributor
yes absa looks over bought, its far above it's 200 M/A. but the easy money are made on the up side. good luck with your shorts.
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where can I find a chart of the institutional interest in the jse??As soon as institutions start moving out of equity,than we gonna see a major correction
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any reason why banks are going up even though alsh is down?
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swordfish
Frequent Contributor
because you are having a short possission on it
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Lol..Ye coz we short on the banks..patience hond..tommorow,we might get a selloff.The bulls will call it profit taking
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well said swordfi*****hat thougt did cross my mind.do u have a serious answer?
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Any know why the US is in the red despite the good data??strange
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its only "good data" cause it is not as bad as they thought.looking forward it is a diffrent story!
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