Oooh dear. No - I'm riding her wicked step sister BIL. But on my chart, there's only way for both - that's down. I'm short and my portfolio is finally starting to look a bit better. Both seem to have broken out of a rising wedge recently. After today's action it seems that AGL has broken the 5 year support line. It perked up from this fate once or twice before - who knows what could happen tomorrow. But I'm bearish. Grrrr.
AGl is trading in a box pattern at the moment with the support around the R 170 and resistance at R 240 ish needs to break below or above for things to change . So trade the box in the meantime go long at around 170 ish with a tight stop loss at around the R 160 of course all of this is only my opinion and you should do your own research.
Thanks for the input guys Dookie, you must be relieved that you are short on this one. If i place my stop loss at 160 and if it triggers, i will take a knock of 30 bucks. Big loss, I think i will ride on this one and wait for the turnaround, also bearish guys.
Rhetorical question - if AGL comes to rest at R120-R130, how big will your loss then be? At what point will you lose head and sell? R90? Consider all these factor when you ponder if you should sell. Nobody knows where the trend will end, so work out your scenarios & actions now.
If you're in shares not SSF's you have no problem. Just wait pick up your dividend reinvest those and give it 18 months or so you will do fine. Just walk away for awhile otherwise you will feel mounting pressure and force a decision not good.
Thanks Guys, I think I am gonna hang on with no stop loss as it should be near its bottom. I am already way into the red, not prepared to take this loss, I rather hang around and hope for a sooner recovery.
Got stock - considering changing my position and buying again. AGL has got to be one of the top 5 for 2009. Plse advise if I am on the right line as I prepared to wait it out. Do you believe that she is nearing the bottom as well.
...and that nogals from their own web page. Also found these on the Interim Report July 2008: Operating Profit ($m) Base Metals=2454, Platinum=1467, Ferrous metals=1252, Coal=731, Diamonds=328, Non core stuff=207...