In serious oversold territory

[kwagga]

I started accumulating some of this.

[Prestonmyhusban]

Got an order at R8.52. No hurry, MACD is in negative territory.

[kwagga]

Buyers piling in @840 - 845. Strong support on these levels

[kwagga]

That didn't last long...

[Prestonmyhusban]

Second bid at R8.25.

[kwagga]

I got some @R841

[stefanb]

Any reason for this sell-off? I had to cancel my previous stop at 800, price moving to fast, and I cant see any good reason

[kwagga]

I think it just a general shake out of weak buyers

[SimonPB]

why did you cancel your stop ?? it surely there for a purpose ??

[Rams]

nah, US on the slide...

[Rams]

15 minute candle of death!

[kwagga]

Oh, no. Not a 15 min candle of death. Yawn. Please wake me up if you get a six month candle of death won't you ?

[Rams]

Any reason for this sell-off? I had to cancel my previous stop at 800, price moving to fast, and I cant see any good reason ....answer to stefans "price moving too fast". 6 months?...hell, i dont even know what ELI is!

[stefanb]

Hi Simon. You are right I should stick to my system. I should never make irrational decisions. Just very hard to find a reason to justify the price movements. Going to put back my stop. Thanks

[kwagga]

Ah, try replying on a particular thread entry next time, or we might get our wires crossed.

[SimonPB]

markets are seldom rational, that's why we have stops .. tis moot as low is 803c, but yes knee jerk responses in the market always cost money

[Russ]

If it bounces to around 860-870 I would get out.It is oversold but that's a dangerous looking chart.

[kwagga]

PS There is definately some risk in this trade, so decide on a stop loss and stick to it.

[kwagga]

Here we go....