Aspen

[saint1]

looking at buying a cfd on aspen, going long. good idea or F*&^king mad?

[Rams]

Long - why? ASPEN is a good short. Has completed 4 waves of BEAR trend and wave 5 far from over at almost 61.8% retracement.Stochastics weekly and daily oversold with no bullish reversal which means will go down further possibly to 100% retracemt to 73.68 .If goes below 8240 ,then on its way to the seventies.But remember can do a ABC corection of wave 4 which means a bounce back to 88.90 and then back down to the seventies. So I personally will go short at around 88.00 and tight stop loss at 90.00 cents.

[saint1]

thanks for the advice Rams,

[sponono]

poor and falling Relative Strength Index (peaked at 30% and now just below 0). Not a buy.

[sponono]

http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=za%3Aagl&time=&freq=

[saint1]

thx great charts, when you say not a buy do you mean short it or stay away?

[HungryPunter]

I am short on this share, reasons: Keeps on bouncing down from resistance level. Relative Strength Comparative is weak and showing a downward slope against the Allshare. RSI as above. These factors hold true for both the daily charts as well as the weekly charts. On the fundamentals DY is not to good, EY is not comparable against the indexes it is listed at. PE is 17+ . The consensus position is a sell. The market bounced upwards almost to 2% on some days this week, this share only lifts 1c on the day.

[Rams]

Go short at around 88.00.Stay away for now based on probabilties because if you go short now and bounces to around 88.90, you will be in the RED!I think...

[saint1]

another down day, will see what happens on monday, thx for the explanations,

[HungryPunter]

I will be closing my short and take my profit. The technical indicators I use show that Rams's view is starting to become more likely. Compliments to Rams.

[sponono]

support is broken convincingly now.

[saint1]

broke 8240, will this still head towards the seventies?