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AMS, another shot over the bows

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So looks like ye ol AMS is setting up for another little quick in and out again. After a semi decent climb to 738 from 696, and I had not backed it that time around,it is climbing off the ambush zone and getting back to the 700/690 region again. This is favourite territory for her (680 through 710) so getting a long when she drops to support around the 690/695 region is on the cards again. I do not think this week but early next week maybe?? Lets wait and see. IMP is still on a mild canter so she remains fav for the next few sessions but the distance has been long and that almighty 215 is holding her back some, so expect another breather but not for long ye old IMPies
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Hope you all got a taste of IMP and made a good uppance. Me personally a little over 15% so I am out and await the 215 breach or the retrace again to 210/205 (205 maybe a little low down so rather 208).
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Yes, I like that AMS has seen a breakout fom the previous Horizontal resistance of R722.Always careful of this fine Blue-blood.Can get a prancy, on those Tail-downs. R681 is the 50% Fib line(from the bottom of 25 Aug 2010 to the top on 19Jan 2011)..and R665 is the 61.8% Fib line.So, I'll wait till R685 and start buying in step-down to R667.And that would be nice.However.....back in Dallas,JR had different plans and Sue-Ellen ( me lips quiver constantly and made me a Crybaby icon) seeks her Meds.I'll just sit with my Wi-Fi mobile and play mkts.Whilst I brush the Horses down, at Southfork Ranch.Only the beep of Alerts! to keep me company.....poor thing.
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Perhaps, the 61.8% Fib at R198.Plus Round Number support at R200.Nice fit.Watcha think ?
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Would be nice but me thinks just a small breather. She is itching to take out that 215 and then climb back to the perch on 236 and up. But then again ambush is strong so we could slide again to 200....difficult one.
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Well we are on track as indicated. 200MA also starting to dip and could cross under 50MA so more downside than I expected possible. That 685 might not be a bad entry VI
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Snipers in Triangulation formation.Comms 5 out of 5.Light SE Wind 5 knots....yup, saw 1 Chuck Norris movie too much.Pass the Prozac.
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On another subject( why waste a Thread,right?)....Strategy before Tactics.GLD(the safe-Yawn bet is looking exciting.)I'm selling out Step-up.Cash comes back.###Now what ?...If the Hedgies do a dirty and test-test our Blue-chip Commodities, it will spell a great Buy and Hold for good profit on the CFDs'.But we need that PLUNGER.first.##I suppose I just love lazy Swing-trading based on value-buys.It comes naturally for me.My ambition.Be as Brain-dead and Lazy as possible,In 2011.And make loads.##As the legendary Jesse Livermore alluded'The REAL money is in the BIG moves."...Tool for this? Patience.
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I agree with the what if the future does this or that on commodities. Frankly I do not hold long terms in GLD or other such things. Unless I can hold the physical stuff the risks of as good a killing as the 80's back to $250 is always there. So I trade the price short term and make profits (and losses) but overall I love the game. Prediction is for physics (or Roffey) so I trade the ticker and my sight and sound (lots of gut in there to - and no my mid section is a healthy 90cm). I love what the fundamentals are doing but do I bother with them short term, NADA. I look else where that those funds eventually deluge into when it goes for or against the predictors. Slush funds, hedge funds, private funds and plenty investment firms taking the cash we give ém and stock pile the physical gold or metal and then go out and pump up a new hype in some new revolutionary technology or invention that will re-invent or improve the way we do life tomorrow and into the future. Then those that come along and threaten the way we could be better off at 1/10th the price they quash like a bug before even hitting the streets.

So the ultimate rule I have: watch, learn, play, have fun and don't go bust....
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Back to AMS and a low of R694,today.That 50-day line is about to announce a BULL MKT crossover with the 200 line for the lovely Blue-blood.However deep this dive,currently...it will violently react(as always) off Support.So,First buy for me at R682.2nd Buy at R667.And then we Hold.
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Just updated my AMS Point and Figure Chart.Trust me, it's the most nervous of all my P&F charts.Anyway....We have a 2nd SELL signal today.When it clocked a R695 Low.And now it's a web of Xs and Os between this point and Support at R665.Very jumpy stuff.##So,I'll stick to my previous post on Buy-areas.
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VI, seems you needs to readjust your charts ;-) I posted a drop to 695/700 and well it knocked right in the target zone. today is a nice ride up to maybe 740 again?? (most likely 725/730) if you a day/2 day trader.
Although I am finding the fundamentals and the price action a little weird of late. Plat price is down (ok more like at support of $1825/1835) today and yesterday but the plats are rising. Yes there is dollar/rand action to the rand bears but enough to allow for the palts to rise?<
And hello IMP - you finally got that carrot up your *** to jump over 215 your little resistance line....go lady go.
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Just don't make the mistake of thinking a couple of days price action on the platinum price will affect a miner. They report every 6 months - so as long as the 180 day moving average of hte rand plat price keeps moving up, then they are making more and more money, providing they are keeping their cost and margins in check. Having said that, AMS is so flippin range bound, I really don't see the point in trading it. Implats has so much more potential, after that huge selloff - and if you were sticking with Aquarius, you would be really smiling now
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higher highs is on its way
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WR
Regular Contributor
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