Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

BHP Billiton begging to be shorted

Reply
Not applicable
BIL is the best short fro the week. I went short 25 contracts @ 247.90 and will hopefully be smiling come friday and into next week's big sell off. It's way overbought and screaming negative divergence on the oscillators.
0 Kudos
73 REPLIES 73
john_1
Super Contributor
Anglo is about to make a record high.
0 Kudos
Not applicable
Skippy,Skippy....why do things the hard way....throw your oscilators out the window....let me remind you of DRD ...way way oversold oscilators...in fact they were all grouping together and were almiost off the scale....that was when DRD was at R 9....went down to around 3....there are numerous examples....
0 Kudos
dimitrius
Regular Contributor
Got to agree with Chartist here. If you want to lose money, then go ahead and hold onto your shorts. There's some very juicy contract negotiations coming up with BHP and their chinese customers, which will be in BHP's favour.
0 Kudos
Not applicable
I would say BIL has another 10% to go before it will pull back.
0 Kudos
john_1
Super Contributor
How is that working out for you skippy.
0 Kudos
Not applicable
I'll tell you cause he sure as hell wont...you see at the moment he has a grin on his face ...he is finding the fact that all these people are buying Bil and chasing the price higher a bit puzzling but he is still cheerful cause he knows they havent seen what he has seen and that it will only be a matter of time before they do and then he will be able to make a fat profit when averyone bails....tommorow when BIL rallies again ...disbelief and denial sets in still keeping him in the trade....then if we rally again fear starts to set in....the we start to move a little lower and the fear subsides and the smile starts to return ....we move lower but not low enough and then we rally again....only this time even higher...then the real fear set in ...the kind that keeps you in the trade till you are margin called or your account is maxed out....
0 Kudos
JohnnyCash
Super Contributor
Yep Skippy/Zarp whatever ur name is I know each one for himself and dont trade someone elses system or gut feel. I got my first buy signal on BIL on EOD Friday after the last couple of months corrections. By the look of things today will confirm the buy and I'll be buying SSF on BIL tomorrow. It does not mean it cannot retrace by Friday as you speculate but it can just as likely be 10% up. On SSF that's about a 70% loss..............
0 Kudos
john_1
Super Contributor
Johnny. What Is the basis of your buy trigger, I ask because this thing has made a number of new highs already.
0 Kudos
Not applicable
o yes you all may be right. I will be the first one to admit when I'm wrong and eat some humble pie. I have a sell signal on my system and after getting in at 247.90 (as I said above) we haven't really moved too far off that... let's wait and see.
0 Kudos
JohnnyCash
Super Contributor
shortish term Higher highs with above average volume to boot and need a trend to be established. Even with the last couple of days new highs it only confirmed on Friday.
0 Kudos
john_1
Super Contributor
Cool, but I think you are a tough man to please.
0 Kudos
Pluto
Contributor
You must be out of your mind to short a share that is in a very strong uptrend!!
0 Kudos
JohnnyCash
Super Contributor
Yep, but more than enough buys since beginning of Sept, after Aug fallout. Its also more for medium to long term than for a day or week term.
0 Kudos
Not applicable
why short stock when they have just struck a mother load in new mine? are you misdirected?
0 Kudos
john_1
Super Contributor
your logic is good. I always like to learn from peole. What I am not seeing on the chart is what changed on friday that was not there on the 13/9 or 19/9
0 Kudos
JohnnyCash
Super Contributor
Both 13 & 19, closing price and volume confirmed but both were on no or a very low trend (ADX, around 16). So no real trend (up or down). Except for the breakout of the 19th, the 13th clearly dont show a trend yet. The sudden breakout on the 19th is too quick to have an immidiate impact on trend.
0 Kudos
john_1
Super Contributor
OK you were using trend indicator.. I was just using my eye. make sense... what kind of back tested results do you get with this system.
0 Kudos
Pleiades
Frequent Contributor
BIL might re-trace briefly, but it's one that should show continued and sustainable growth, due to Chinese resource demand. This week's Engineering news confirms 800 Chinese state-owned firms are active in ALL countries in Africa. By the way, I don't think that institutions with billions in real currencies will 'chase it higher'. Believe me dey done deir 'omework too.
0 Kudos
Brazen
Super Contributor
Come on guys, let's be fair. I'm interested to hear what Skippy's sell signal was.
0 Kudos