Exxaro ready to blast off!!!!

[Tom168]

What all you guys think with this share?

[SKALA]

I have missed the resourse run because wrongly did not believe the trend that still is very visiable. If I look at EXX from 22 Jan 08, seems retrace comes down to about 62% every time, so if pattern is repeated now, should go down to about 127, looks to me.

[#3]

Exx has been the utmost fun to trade. im currently short until the the above mentioned retracement...

[#4]

The upward trending resistance line is also just under R130.

[#5]

Yup, agree. I'm waiting for this one to pull back below R130 before buying in again

[Maggie]

My thoughts too AvS.

[SKALA]

Seems like the retrace to below 130 not going to happen soon.

[#8]

Skala, see comments by Barry on CZA, and Starsky on coal exports. The rumours might push the share down a bit, but real facts might do even worse.

[SKALA]

AVS, I did see Barry's comments, and I hold hid views in high regard. What does your comment actually mean? Is there possibly problems brewing and should we move out of coal? Is this possibly why SNU is falling today? I hold CZA and SNU.

[Mr_Money]

Yeah, I like it. Bought some at 55 rand on the 2nd of Janaury 2006. In a year an a half profits are up at 155%. What makes you say that it would take off?

[Tom168]

yippy..i bought 100 contracts at 13400c. now is 14100c! Target will be R 150 before it retraces. I think for the long term it is a super share. Definately a R200 share in a years time. I follow the elliot wave theory and use fibonaaci when to get in and out.

[#12]

Hi Tom168, can you recommend any educational books on Fibonaaci.

[#13]

not a bad way to make what 40k???

[Tom168]

Fibonacci Applications and Strategies for Tradersby:Robert Fischer

[#15]

Thanks I'll look at it at let you know the outcome.

[#16]

Fibs I believe in, What do you guys see in Elliots?

[Tom168]

A elliot wave in a bull market has 5 waves(up,down,up,down,up)followed by three correction phrase. Depending on the characteristic of the share, normally i use fibonnaci to track the bottom of each down move...8 out of 10 times it bounces of the 61.8% retracement. In conjuntion with that if stocastic is low when the share bounces off the 61.8 then 90% of the time it will shoot up without lagging. Implats, exxaro, billiton are the most accurate..been using this strategy for the last few years and helped me made lots of cash.

[#18]

Thanx for sharing your system, Tom. I have just downloaded, erm, I mean purchased the book and have started reading it.

[Zirk]

Good call Tom168, One of few that shot up yesterday. Where do you currently position it in the Elliot wave steps?

[Tom168]

we in the start of wave three. wave 3 always has a longer distance move than in wave 1. Remember inside wave 3 there is another five lttle waves(up,down,up, down, up).A share will never go up on a straight line...Target would be around 155 rand for the coming weeks