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.
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