BHP Billiton begging to be shorted

[Project_Directo]

sellers should have melted away monday rebound is my call followed by the next run up. iron ore negotiations kick in 7th but do tend to be protracted, hell what do you expect when organising a 100bill US Deal.

[#2]

where is the big selloff now? went long ; am making a bundle here!

[#3]

How's that long working out for you? You must have different charts than mine because I find it very hard to see where you are making this huge killing of a profit. I on the other hand am smiling every day we close red. I must admit I'm tempted to take some profits and go long the retailers Foschini and Mr Price.

[dimitrius]

Skippy, I'll be the first to admit that for the short term, you were right. But the medium term upward trend that was established at the end of August is still intact. What makes you believe that BIL will continue to go down.

[#5]

Who says I trade medium term, and what is medium vs short or even long term in a defenition? I simply trade with the momentum of the share in the short term swings and compound my profits long term... making sense? I'm not a bull or a bear, I simply go with the flow of a share's momentum. As I detailed in the threads above = BIL was way overbought and the ROM (200) was at an all time high, a correction is due right? The chart showed a hanging man candle as well as a dark cloud cover, both bearish. The ROC momentum broke down through it's sharp up trendline and I went short for a quick easy profit.

[john_1]

How quickly we forget the 25K loss in one afternoon , are we even at break even yet?

[Brazen]

LOL! And they (Chartist) say I'm mean. I'm having the worst day imaginable, I need to be mean. Gravy's parents are down for a week, it's a Kafkaesque nightmare. I'm only surviving by being drunk.

[john_1]

That sounds like a good day then.

[#9]

John you made up that 25k number not me. As I posted above, got in at 247.90 and got out at 252.00, that's only a 1.7% move against me on the underlying and 12% futures. I got in again at 250.50, see above, now at 238... do the math. I don't post after the fact, and in hindsight. I said I was wrong but now I'm right, PROFIT kinda right. How are those retailers looking ahead of Thursday? Mr. Price looks a sweet trade, balready broke out of symmetrical triangle on higher volume, Foschini worth a shout? Took small long positions in both already. WHL had agood run...

[asylum]

Skippy why dont you look at Mla way overbought and paying out capital distibution next monday. should be a prospect for a short.omo

[Preston]

(LOL)Holy *****.I do share your sorrow Brazen. Try playing dead.

[JohnnyCash]

Ai, BIL verrrry strong, looks like it was a minor retrace then... Better be a dam fine scalper if you wanted to keep any of ur cash in a short posi.
some day the light will go on that the easy money is in same direction than everyone else is trading and that the difficult money is in taking an opposite position.
Sure, after SSF costs and trading costs at best a short netted maybe 2% on underlying over latst retrace, but the 5%, 10%, 20%+ trade sits on the long side!! At this stage u prolly dont need to wait longer than a few weeks for this to materialise.
U would have done better in double quick time waiting for the pullback under 240 and then going long. but everyone for them self i say

[Brazen]

So whatya saying JC? It's not Yippee for Skippy?

[JohnnyCash]

At least for today LOL. Given this market he may well be back tomorrow with bragging rights when BIL sheds 3% again..... At least we're slowly pulling away from the current support levels on most shares, giving a bit more room to manouver......