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Online Share Trading

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AMSSBF + Falling knife?

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barry_1
Super Contributor
Usually i'm not in to catching them,but as the share AMS has fallen about R100 in the last three days ,i'm left wondering?For once got out at the right time and made a good profit last Thursday.The strike is like to be averted,but all hangs on the perception of the majority of share holders who are overseas!
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29 REPLIES 29
TJH
Frequent Contributor
Hi again. I haven't been following AMS since it broke out from R199! I certainly would have made more money! It was always my favourite share. I see it's dropping. I don't think it is finished its correction. It should move up to R1220 approx (now) and plunge again. I will follow it and let you know critical points.
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Preston
Super Contributor
Remember Guys , AMS has closed its operation for 7 days in one of the mine. Demand vs Supply , market will correct itself shortly. I will continue to buy on the downside and keep for 3 year , if possible?
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barry_1
Super Contributor
Thanks TJH,your opinion always carries weight with me.The urge to nibble at a Call too early remains strong,as it is the only warrant that i trade these days. Shoulda take n a PUT ,of course seen from perfect hindsight perspective,but now feel that,its unlikely to make this profitable..Cheers!
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TJH
Frequent Contributor
Barry, every share has a "key signature". Until I get in "tune" with it use your good judgement if you think a bottom is in. I would hate see you missing a bottom. It seems to be following GFI- which should bottom in the next two days.
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Brazen
Super Contributor
Hello boyos, I think it's worth a punt at the 121 level with next level 116 and then 113. But for what it's worth, I think it's gonna hold 121 and it's OK calling a bottom there. I'm in now.
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TJH
Frequent Contributor
OMG. Brazen's bullish. Should we be buying puts?
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Brazen
Super Contributor
I'm always bullish baby! And guess what, I'm always right. Well, eventually, and only for the last 5 years. But who's counting.
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YNWA
Super Contributor
A bit old B, 20/6, from Mother: "Amplats: Amplats has consolidated since its mid-April high of 127800c. Yesterday, the share moved above triangle/flag resistance at 125000c to register a new buy signal and validate the typical trend continuation pattern. A conservative upside target of 138000c can be established from the width of the consolidation pattern, with a more aggressive 'bull flag' target of 146000c derived by projecting the last upward leg before the flag to the mid-May low of 113200c. Also encouraging is the triangle breakout relative to the All Share after 2-months of under-performance. Previous resistance at 125000c should now translate into support, with a buy on dips approach advocated. Only below 121000c would question the bullish stance and below 116000c required to turn bearish."
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Brazen
Super Contributor
Thanks my pet. Yip, if it closes below 121 today I will exit and wait and see. You been hit by any flying bulldozers? Thought of you on the building site in this weather.
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TJH
Frequent Contributor
LOL! My little Fund Manager. I hope you are layed in to GFI @ R114?
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Brazen
Super Contributor
I spit on GFI. I will slit my wrists before I buy GFI. . . 114 you say?
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YNWA
Super Contributor
Nah B, money in the bank, they can carry on with their toys....the roof of the new mall has blown away in places with some outlets having to close "due to possible further structural weaknesses"!.....that leaves a roof job on American Swiss a distinct possibility...look out for some early Christmas bargains at Roadside Traders Inc.
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TJH
Frequent Contributor
This is either finished here (the move down), and we go and close above R115 today or there is another down wave to like R113. Hard to establish.
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Not applicable
Shucks Y - now look what you've done - B's rushed out with her credit card in a panic yelling 'no place to shop! No place to shop...!
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Brazen
Super Contributor
It's that 'hard to establish' part that leads to the spitting. Just had a look at it for the first time in ages (well, a week, but who's counting). Could still go down to 110 or no?
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TJH
Frequent Contributor
The intermediate downcycle usually take 4.5 days. We have had 2 and a half days. We haven't seen a parabolic downturn yet (relatively speaking) If you buy half at R114 odd, you got ammo to buy the last turn to R113.
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TJH
Frequent Contributor
We could also just plunge right here and now to R112,80.
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Brazen
Super Contributor
er, thank you. But I would like you to just say, 'buy at 1??, it will only ever go up from here.' That suits me better.
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TJH
Frequent Contributor
I can do that as well. Why didn't you just say that?
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