hope i had some divine intervention. I had buys set at 170 last two days and did not get in. was going to place abuy again this am, but was busy, when I logged in again it was waaayyyydown. Anyway, next support is at R143, so I bought in today in any event - long, and many shares. It should bounce back next week some time as bargin hunters get in.
This isn't a stab at Paul Hansen, but the slide which he showed at the SBK market outlook presentation early last year needs to be framed. I'm keeping it as a reminder that even if your crystal ball is Waterford, you should take a good look at what the charts say. The title was commodities and there was only one word on the slide: Stunning.
Murray recons if we closed on the Dow below support as we did last night..we are *****ed.He recons the only support left is the long term trend started in 1934 which provides support at 4000 on the Dow.. So hold on to those food coupons as we all my be needing them shortly.
Even the pros get it wrong - i remember an interview on fine business radio where Dr roffey called R310 on AGL an absolute bottom and how it had capitulated on high volume and would be going up from there.