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Online Share Trading

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AGL!

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eddy66
Super Contributor
ninja,it looks like AGL is going to 280 rather than 230?
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10 REPLIES 10
Ninja
Super Contributor
Eddy, I take litle stock of intra day swings as I am a day trader on stocks and unless the stock moves more than 2X the ATR in one direction intra day I pay no attention....AGL still faces massive resistance at the R261.50 mark and the Dow faces massive resistance at the 10,000 mark. When I see prices close above these thresholds I will seriously reconsider my position......until then I am still looking for more downside in the next week or two. I trade technical points, not intra day sentiment.
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Not applicable
You a day trader on stocks ? Who you trading through and What comm you pay ?
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Ninja
Super Contributor
end of day trader.....
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eddy66
Super Contributor
okay ninja! wax on,wax off...
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eddy66
Super Contributor
looks like that resistance is gonna be broken.It's just going higher and higher!
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Ninja
Super Contributor
It may well do....but it needs to close higher....we are still intra day......if you are looking at entering my advice would be to wait for the close and enter in the morning.....IMO
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eddy66
Super Contributor
ninja are you short?
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Ninja
Super Contributor
Yes.....short until we close above resistance and then I am out.
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eddy66
Super Contributor
Why don't you close out now? it's already a healthy portion past 26150 and my guess is all the data coming out off US will push it even higher?
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Ninja
Super Contributor
There is a good chance I will get stopped out today, however I have learn't from past experience that trading intra day very often results in the closing of a position only to see that trend reversed by closing bell and your original trade goes on in the direction you first expected it to. On balance, trading end of day always gives you a more accurate picture than trading intra day, unless of course your strategy is to trade short term intra day moves which I do on the indexes but not individual shares. IMO AGL is currently untradeable if you are out of the market as you do not know where it will close and if it will resume its uptrend. Todays closing price and Dow performance later tonight will give you a far more accurate steer on next steps than trading on intra day moves. IMO
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