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Online Share Trading

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FSR

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Russ
Super Contributor
looks like a good short to me.
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23 REPLIES 23
Not applicable
its one of the strongest shares on the market, its also the strongest share in its sector. I'd rather buy on the dips but to each his own.
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Pepi
Regular Contributor
Russ - tell us what you see in the chart (besides short)
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Rams
Super Contributor
MACD and STOCH looks like a short, but trend still up and ADX on daily and weekly tell a different story from the short...i dont trade any of those indicators...but looking at price, no trade at the moment if not already in and LONG...
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Preston
Super Contributor
Shorten at your own peril.
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Preston
Super Contributor
Russ, am i taking your money?
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Preston
Super Contributor
Russ, Stoploss my friend lol.
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Not applicable
FSR is flying today
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Russ
Super Contributor
Sorry,I was out all afternoon. What I see is it stayed above a support line between 21 Nov 2011 and end of August 2012, and it then broke this support.That support now acts as resistance.In the last 10 days it has come back up to test this resistance but has not managed to break through it convincingly and today closed pretty much on this support.Today it has also only just closed above its recent uptrend from 9 Oct 2012 to today.So yes,it might continue up,although there is a big sell divergence on the rsi (weekly chart).The rsi and sto are also coming off overbought positions. I posted earlier when it had broken below both these uptrend lines so I thought it might continue lower.As it happens it rallied well after that,although it ended well off its highs of the day. I wouldn't call it a definite short anymore,but I will watch those support lines closely on Monday. I still have my short but if it consolidates above those support lines then I will get out.
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Rams
Super Contributor
Russ, do you think Preston is a mutant...he has that same style as that lost person who called a 2000 point short and the market went up 2000 points..damn i forget his name, falsecharty?...some chart..anyway, there is a resemblance
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kwagga
Super Contributor
I've tried shorting FSR before. All the technicals seemed in place. Needless to say, it was my biggest loss on a single share this year. I don't want to go there again. Going against the major trend, irrespective of the technicals on that point in time can be costly. Snipped from my trading journal on that trade: "Technicals moved down, price didn't confirm. Get out when it's like this. Time decay and gearing is a considerable ***** up on warrants. Will never trade it again. This was a funking disaster right from day one. I should've waited for a uptrend break down before getting into this." - kwagga
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Preston
Super Contributor
When did you try shortening the stock?
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kwagga
Super Contributor
26 Jan @ R22.26
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Preston
Super Contributor
Don't feel bad, I lost R23k around 17 Jan on MTN. Had stop loss in place but i placed it at R130, which was a wrong psychological level. 10 month later i placed my first trade on Aspen and i made R24K profit.
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Russ
Super Contributor
Yes,my mistake was reacting to an intraday break of support,rather than waiting to see that it was not a false breakdown.I got out today at R30.35.Not too much harm done.Thanks for your comments,even the schadenfreude lol.
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Rams
Super Contributor
well done Russ on executing the stop loss, but are you using a mechanical sysytem, becos it seems you did some thinking there?
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Not applicable
Looks like a good call for the short term.
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Russ
Super Contributor
So it was a short after all.
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Not applicable
maybe - although I would ask the question how on earth you guys expect to consistently make money trading a 5% move on a single stock. What I can say though, is that is a perfect bull flag, and you should be buying around now
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Preston
Super Contributor
Imagine how much you could have made , if you had not listen to me. (30.35-R29.05)*100 SSF contract ,,,bling ,bling Russ
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