Exxaro coming up on longtime support

[platsak]

Anyone else thinking of going long on 90

[#2]

While oil (the big energy commodity) is going down, I would not touch coal stocks. Just as oil overcorrected on the upside, its busy overcorrecting on the down side, and if it gets close to $60, we're going to see coal stock prices also drilling to new depths. The Saudis don't seem willing to cut production, even though the rest of OPEC wants to, otherwise George won't come over for tea to the Bin Laden's house any more.

[#3]

OMHO of course, so expect the exact opposite to happen.

[platsak]

Thanks. In your opinion should I stay away from Sasol as well. Coming up on 300 support.

[#5]

I've reduced my Sasol to a sleeping point, although the little I have is still hurting like hell. Wanted to buy some this morning, but remembered my own credo about averaging down. I'd wait until there's a different fundamental view or until the technicals give a hint on a market psychology change.

[BRE]

Support an resistance level are signficant trading areas depending on whether those levels are broken or not. In otherwords, you don't buy whne it reaches support; you buy when it bounces up off the support level. Ok, so you don't get it at the bottom but at least you're not stuck with it when it continues falling and cuts through the support level. Personally I wouldn't go long on any share if the share's weekly trend is downward. OMO.

[#7]

At the moment oil is sliding, and Sasol is sliding with it. My opinion is that they will continue to slide until AIG has been shored up (or, if AIG collapses too, then they will slide even more).

[platsak]

Vitoc. Last question. Know you were of the opinion a while ago that banks will be back at their previous lows. Is that still your opinion and are you shot on any banks o thinking of shorting any banks.

[#9]

I'm short on satrix Fini as its broken down from a rising wedge. I'm not in agreement with the market over banks, as Joe Public is of the opinion the SA economy will lift soon. I would agree, except for the fact that I suspect the Rand might see a major knock in the near future (due to international conditions), running up the price of all imports, and running up inflation to new levels. Just my opinion - if I'm wrong, just another stoploss to add to my collection...