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Do we move up from here?

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Not applicable
Well...we should know in a day or so....we have retraced to the 61.8% retracement level from the 19 June highs (with 22 Jan lows being the other reference point of the 100 retracement level)....my crystal ball favours a bounce quite quickly up to at least 27000....(this is Alsi futures Sept 08 contract)
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15 REPLIES 15
scandal
Super Contributor
How so Mr C when gold, oil and resources in general are down? Rand is stronger hence overseas punters are cashing in since their foreign currency portfolio value is suddenly stronger? Notice how before US opens we trend up then last hour or so big sell off. Me thinks that its those that have been in the market for a while a carry trade returns are in their favor and they simply cashing in... OMHO
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Not applicable
How so?...I didnt say we would... I said its decision time....you see the problem is that what you are saying is that you are attributing the market movement you are seeing to some phenomena which you have come up with...I can see that what you are trying to do is create a rational/causally plausible picture of what is happening. The truth is you or anyone else doesn't have the foggiest idea of whats going on....what I am saying is watch and observe....if we go higher we will go quite a bit higher...if we go lower the chances are greater that we will go a lot lower (back down to the previous lows)
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Not applicable
Where do i trade alsi futures? Please advise me what to do.
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_nova
Super Contributor
Chartist? be oh so careful little grasshopper. I wouldn't want to gues a bunnyhop right now. Better watch the DOW (yes I know it sounds repetitive) but that's the cue IMHO and it's precarious.
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Not applicable
Nova...I watch it all the time...in fact maybe u should look at this....http://www.screencast.com/t/HVdJBlm6yIz
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divz
Super Contributor
Hey chartist thanks man this is great very happy your back much appreciated.
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_nova
Super Contributor
Chartist? I defer in humble apology. Did my homework and you're spoton in my opinion. Let's see, well rather what I see now is not just a bunnyhop but quite possibly a leap to the 11733 level on the DOW (Daily close on 28 Apr)and the first Fib retrace from the highs around 9/10 Jun down to 23 Jul. What has me thinking is the daily gap up on the DOW of 24 Jul... and it hasn't closed. Your opinion appreciated.
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Flash
Occasional Contributor
Thanks Chartist, the video was great!
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BRE
Regular Contributor
Double thumbs up for that video C, very informative. :)
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_nova
Super Contributor
Hey Chartist, no fight, just 'friendly debate' :-) I've seen this one before. U posted the link a while back? No? And frankly it is absolutely excellent. Your TA is 'bakgat' (now don't get excited nuh?) You should really post more of this stuff as I think quite a couple of us on the forum appreciate it. Not sucking up ok? (don't get any ideas dude!)
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MAGICIAN
Frequent Contributor
Thanks a lot Chartist - very informative. Keep them coming - there's quite a few of us out here who need the help.
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Not applicable
Nova...do u need to see the holes in my hands before you will believe?...no apology necessary...I quote from my hero's website..."we predict things before they happen"
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_nova
Super Contributor
Chartist, u r wicked!
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Not applicable
Thats right we we can see the future
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Not applicable
No Mkadir...only you claim to be able to do that...
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