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Another little nibble on the way

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Well now what do we have here, Some news or just price play for divs?
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23 REPLIES 23
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do you have a exposure to the share?
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I jump in and out when the opportunities present. Like today is a nice nibble into weakness. No long term holdings.
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Regular Contributor
Today is the 2nd big volume down day in a week - I wouldn't be buying today...
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agreed, the title says nibble on the way. But a little here and a little there on the way down does give coffee tokens for the Little Mexican coffee hut ;-). I will wait for the re-entry under 200 again.
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Super Contributor
Mmmmmmmm........highest volumes in 12 months. Looks like more pain is still coming here.
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Regular Contributor
i'll wait , but gimme some
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Super Contributor
Nibbling into weakness? Is that not flawed trading mentality!
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WEll if you use your argument in the diciplined trader post, "averaging down in a defined range" it that not the situation you were refering to? I merely said a nibble was approaching, did not say where entry was. I recon we can wait for 200 odd.
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Regular Contributor
Seems like a good entry point. 200 day average!
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Super Contributor
I like the 195 you've mentioned...and even a little bit lower than that might be good support...
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Super Contributor
I don't trust this market. DOW seems like it has room to go down. Quite a bit room of room. 11500 ish looks like a likely target.
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Nah...it's just a pullback,kwagga.It just looks bad because of High-frequency trading.Stuff moves fast..IMP at R195-R198.I'm watching her(and others).Our JSE ALWAYS sells off first, when the hot-money gets nervous.This has been going for almost a month now.Lovely.Now let's see those new trading ranges ...
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me thinks me browser is playing tricks on me. DJ shows -119 points on my one screen and on the other paring even (about 5 up or 5 down). Jees I better look into this cause it could be one serious mistake with wrong data. hehehe
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Super Contributor
I was thinking of getting into IMP yesterday, but I'm afraid this market has got me too nervous. Just too choppy and unpredictable at the moment.
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I have a system that works quite well with resource stocks - when oversold, wait for a significant gap up - 1% minimum. Works for all resources, but chose the one that has gapped up the most. In today's case, it is IMP. This is the price action I am looking for. Give it 30 minutes to 1hr to make sure it is sustained. It needs to have made a fresh high, otherwise the trade is off. Enter at the current price, with a stoploss sitting below the swing low, however I exit the trade if the momentum is not maintained. In otherwords, if the gap is entered. So I am long on IMP today. I like to keep the trade for the longhaul, so I tend to stay with it, unless i get obvious resistance, like dark cloud cover, engulfing candles, doji's etc.
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Skaap as always nice approach. I like the options. Dont mind if I add it to my little selection criteria too do you?
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Well we are up a good percentage and I finally backed the right horse ;-). Seem to be hovering today and a cool-down back to maybe 205/208 could be built in. However with the new car sales up by that nice margin, overshooting expectation, this might just be a breather before we head back to 230 mark again....ride 'em...
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Regular Contributor
IMP is struggling to break 214. any views on where it should be heading?
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I have been a watching it. I bailed my position (good return) to be honest yesterday when I had to goto a wedding. But today seems a drifter as well. I am looking at shorter times (15 min charts) and see a little concern. I am expecting a pull-back as stated earlier maybe around 207, but the direction is worrying. Right now I am staying out and if it breaks 215 I will get back in or if it does pull back I will again get in. Fridays are not my fav trade days cause I have to hold the week-end but occasionally a good position comes begging, however I dont think today is it..
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