Last minute rally on MTN

[manicks]

MTN was down around 105.00 around 4pm today but rallied towards the close to finish at 107.90. Why do shares normally ramp up towards the end, i often notice this but dont understand why, even with bil and agl today. Btw whats the Outlook on MTN, could we see it breaking its resistance at 105 "shortly"

[#2]

D J opened up so some guys expecting a rally

[Shard]

Thats been the story for the past week, rally at the end because DJ opened up. It will open down this morning as all those that bought into the rally will look to offload fast, then creep back up to yesterdays close. If the story plays out the same way today. I'm short atm, its slowly creeping down. There are better paying shorts out there tbh, even if this one does break 105 I dont recon it will plummet.

[#4]

which are the good shorts on the top40 in your opinion

[manicks]

Thanks LN and Shard, Yes Shard can you please recommend better shares to short in this environment, im tyring to short MTN for last 2 weeks without much success, must admit mtn is very resiliant or (stubborn).

[#6]

Discovery might be a good candidate for a short. Daily & weekly MACD down, force index down, It's broken resistance down. Might be a nice play with a reasonably tight stop.

[#7]

Lets not lose hope yet..

[Abundant_Lifest]

Where is next support? Should one close shorts now?

[#9]

I sold my short at 101.50, I'm hoping to buy back at 106 tomorrow???

[Shard]

Look, I'm no pro, but shorting the exxagerated rally's on resource stocks has been most successful for me.

[Shard]

PS I expected MTN to hold at 103 when it broke 105

[manicks]

Snap1 buy at 106, do you mean you going to short MTN at 106 or go long and close at 106?

[#13]

MTN has nice gaps to fill at 93 and 83.

[manicks]

Do you think mtn potentially can drop to 83. I went short from 112 and close yest at 103, is it wise to still go short at current levels of 98

[#15]

I also messed up on this one yesterday by selling my short. Yeah I think this one is coming down much more. See if it breaks 100 this morning, Try get in short anything over 100 imo?

[#16]

Do you your analysis, look at your set of indicators, HAVE A TRIGGER PRICE IN THE DIRECTION YOU ARE TRADING IN, decide on your stop, and you won't need people on the forum's opinions to trade (meaning your profits will be leveraged off your own IP)

[#17]

And most important - don't make your postition so large that you're in and out like a cat on a hot tin roof. Play small until you have a proven winning record.