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Online Share Trading

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John - dilema

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Brazen
Super Contributor
So. .. do I sell into this strength and take some profits and smaller losses than last week? Is this the resumption of the up-trend or do I go with MM and still see the correction as half way down. I think go with MM and up my cash.
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25 REPLIES 25
john_1
Super Contributor
Brazen. its tough question, I have just been looking at the charts and there are many shares that are now back to support/resistance. so I think its quite a critical couple of days. You know what why sell when the market is strong. Let the market take you out. raise the stops and sell if it triggers intraday. dont wait for the close that way if there is some bad news you act. and if the market runs I take 10% commision.
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Preston
Super Contributor
Hi Brazen My name is Preston and i am X years old , Graduated from university of %%%%% , currently residing in JHB, working for %%%% and earning a package of R%%%%%%. (fill in the blanks)(LOL) On a lighter note , i invested a significant amount in Billiton ,stop losses in place , and starting to see lovely profits.... As the saying goes, you cannot keep a good sod (me) down...(LOL)
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Brazen
Super Contributor
Thanks john-boy, good advice. Also checking the charts. Not sure of something tho - if shares have broken significant support and then recover for a day or two - which has greater weight on the charts - the significant break or the recovery? Simon, Chartist - input greatly appreciated. Anyone elso too, aside from Org.
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saash
Super Contributor
I've decided to short intra-day until things settle. Making back a few of last weeks costs. Is that the safest? My AMS are looking ripe - I'm leaving those, cos there's always divs if it goes swimming again.
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john_1
Super Contributor
I think you got take the break as imporant. I think that the market will come back and test those levels, and if it fails hellfire. if it holds climb in whole sale. Chartist little trade last night, demonstrated this beautifully. Have a look.
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Not applicable
I feel with the yanks starting the whole sub prime crisis they are still feeling nervous and uneasy despite discount rate cuts etc. and after a nice little run on thir side I dont think they are feeling as bullish is they may look. expect a little bit of profit taking in the west which the way things are going will have a ripple effect to us. having said that the market will as usual go against everything Ive said so...
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barry_1
Super Contributor
Brazen i know u did not ask me as my systems are rather rustic!But my penny's worth is that the bear is not over,but it is not time to sell whilst the Rand is strengthening against the Dollar as this seems to let shares rise in price.YES I KNOW THE EXACT OPPOSITE OF YEASTER YEAR!
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Brazen
Super Contributor
Rustic = Wisdom! I agree with you and TZ - I think this is a bounce and then we'll see more of a correction. Our tech guru, who's been right consistently for years, sees 24500 on the ALSI. Smart thing to do is sell into strengh, build cash and wait. Either we'll see a resumption of the bull back to the 27s or down to the 24s. Then start trading again.
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Brazen
Super Contributor
Clarification - that's 27s on the TOPI not the ALSI so would mean in the 22s on the TOPI!
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john_1
Super Contributor
Brazen, if in doubt refer to rule number 1. Don't lose capital. The market will always be here, its your job to make sure that you are too.
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kwagga
Super Contributor
Barry, I tend to agree that the sub prime mess is on ice until the next bomb burst. I could however not resist getting some INP and RLO on Monday. Like many out there, I'll keep a close eye on whatever will follow. One thing is sure - this bumpy ride is not over.
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Brazen
Super Contributor
How did you get to be so smart all of a sudden? Those self-help books or something?
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john_1
Super Contributor
Nah! If I was that smart, I would have the trophy already.
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quovadis
Frequent Contributor
Brazen, who is this guru MM, or is that like asking what the JSE is or what SSF's are?
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Not applicable
John this looks like a typical TSUNAMI. The market is moving into positive territory, but the underlying sentiment is still very negative, so watch out for that big wave that can wipe your account. I took profits and now I'm playing with the bear, GOOD LUCK.
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mib
Contributor
US housing data out tomorrow and monday should give a good idea of sub prime market jitters
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Brazen
Super Contributor
Not obvious at all q, don't worry. John and I both follow Murray Morrison, the brillinat tech analyst at JP Morgan. He's almost always right but he has a longer time frame if you're into very short term trades. Bottom line, his advice saved me from taking a big bath over the last few weeks. He said the dow was going to 12900, which it did, and he still maintains there's a stong possiblily that the ALSI is going to 24500. Overall, though, he's very bullish on equities and sees this as a healthy correction within a bull trend.
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quovadis
Frequent Contributor
Brazen, much appreciated thanks.
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Not applicable
BRAZEN where do you get MM info pleasze help still reeling from the correction
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