Is shorting this good idea

[manicks]

MTN is still holding around 108 despite rsi oversold, do you think its prudent to short it at these levels and if it does go down at what price will it be good to get out inorder to lock in profits

[#2]

short on mtn for the past week cant break 108 but if it does 105 then 95

[HiSo]

I'm also short for about a week. Got in at about 109 and I know MTN is just waiting for me to close my position before she drops ... happens to me all the time.

[#4]

i was short twice this week and got out twice with profit, very difficult to short mtn, SIMON THE KING is right there are many easier shares to short, mtn has too many support levels if it ever will drop

[DR_1]

if it would just follow the market it would be great...waiting for the last 2 weeks to go down...

[#6]

hope = burning fingers

[manicks]

Momentum: You mentioned there are many easier shares to short... Can you please recommend a few?

[SimonPB]

manicks, tis simple. Short those that are goign down, not those you hope/think/pray will go down.

[manicks]

I hear you Simon but how do i identify which one/s are going down, they are so eratic, one day bhp 8% up next day 8% down. Do i used 4-9 moving average or some other indicator to identify shares going down. In a market like this its easier to short because the primary trend is down but but my difficulty is determining which share to short, how do i choose, what method do i use, can you perhaps give an example of a typical share that one could short currently...not asking for tip just some direction on making selections. Thank you

[SimonPB]

sure, in the current market volatility the moves are insane. Me thinks reduce risk and the easiest way to do that is to reduce trade size.

[Ninja]

Look for strong resistance levels on overbought shares....this allows a tight stop, minimal risk and in this market 9 out of 10 trades will give you a profit. EG: I shorted Exx off R75.....look at the setup....very low risk trade with tight stop above R77.

[manicks]

Ninja, well done excellent trading:). Im still learning to trade properly so what indicator do i use to find overbought shares do i just look at rsi or is there another indicator you recommend? And what charting software can i use to accurately spot resistance levels and rsi values.

[manicks]

Thanks Simon and Ninja well done excellent trade :) Ninja im still learning to trade properly so what indicator do i use to find overbought shares do i just look at rsi or is there another indicator you recommend? What rsi level should i short 65 70 75 and which charting software can i use to accurately spot resistance levels and rsi values. Is ideal cdfs charting software good option.