Dead Bear?

[DEP]

Eish, these bears are hurting!

[#2]

it is freaky how close my cast was. we closed at 24857 and I said we would hit 24850. I still see upside to 25000/25200 (latter maybe a little ambitious so expect to remain under 25100 odd). We might see a drop later afternoon or into Friday but holding support at 24730 for the short term.

[DEP]

-^-^-^- bear flat line -.-.-.-.-.-

[Asher]

dead bear... mmm...so no one is short say SBK?

[#5]

too early for that play. next week might see some small chances but right now its a rising trend.

[Mar-11]

Is that not a perfect inverted head and shoulders in the graph?

[Asher]

yes the topi looks good. I'm thinking SBK's trend is a false positive

[barry_1]

yes naomi pointed it out in her blog yesterday.

[DEP]

US Unemployment data - 3.30 pm sat - will set the tone for the next big move in the market.

[DEP]

Eish, not sure if this market going to hold. Due for a pull back. Watch the Euro/$ exchange. Euro going weaker again, not a good sign?

[HateGauteng]

Man!!! This feels like a schlong in the ear . . .

[saash]

Which index were these figures on CPS, what's your update?

[#13]

Saash, these were all on the TOPI (top 40) as it is at least tradeable. TWe closed last week off under 25100 as I thought. Boost of political bull in Europe is helping us limp to 25300 and I suspect we might hit 25450 to 25600 by end of the week. We could also start looking at a pull back to the 24800 mark for a small breather in this week. I suspect the latter is going to happen if we cannot go through 25400 level. IMO and I am long the TOPI since 24700.

[saash]

I'm in agreement with your 25600 levels ... but also think a little pull back should come to play.

[#15]

Well the pull happened, but I still believe a little more in the bottom ladder is needed. I expect a small reversal to 24900/24850 before climbing up to 25300 again. Some seriously good positions opening up on various shares and geared instruments if you looking for both longs and shorts.

[#16]

the bull stops here, clear double top on all share (short term mon, tues and wed close and long term 11th Jan close) prime shorts are AGL and BIL as they have the same double top pattern as the all share. let the shorting begin

[#17]

banks are also a short, NED SBK ASA, and best pick i guess is exxaro

[#18]

but for all this to hppen the all share has to close below yesterdays close 27900 or something, yet if it closes above mondays close 28117 then it'l test januarys high

[#19]

conventional double top trading technique is to wait for the classic M formation, and then to short. Shorting at the second top has no real expectation of downwards correction, since the most probable scenario is an ascending triangle to form. That gives you very little reward for your risk. And, of course, there is still the potential for a shootthrough of the current resistance, although given the reluctance of Wall street to break through its resistance, this is becoming increasingly unlikely. Most probable scenario? Profit taking with a very short term pullback.

[#20]

Well I been saying this for the last week or so. I still believe a little more in the bottom is needed. I expect a reversal to 24900/24850 before climbing up to 25300 again. Been struggeling to break through that 25300 mark so needs to re-test support around 24800 mark.