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leminus2
Regular Contributor
Anybody know why the dip in the market?
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15 REPLIES 15
Not applicable
Much like John had a dream about Buffet, I wished it and so it was ;-) Seriously that is like asking if men truely understand woman and visa versa.....to many possibilities. Maybe a cool off for another rally, maybe uncertainty in USA recovery, maybe new us bank tax rumours spooking the market, maybe SA rand to strong, maybe maybe maybe. just what if..... Now I am going to impersonate Simon "just trade the price"......
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Ninja
Super Contributor
Market saw a massive reversal candle yesterday just short of a high of 28600. This is the upper resistance of the channel the JSE has been trading in since the 24th March 09. This is therefore a clear technical trade, no surprise at all.
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HateGauteng
Super Contributor
Coz we're all gonna die . . . .
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Werner_1
Super Contributor
what did john dream about buffett?
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Not applicable
See 'catalysts for 2010' thread
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Wizard
Super Contributor
That he meets him and Warren gives him a blank cheque.
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richardw
Super Contributor
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saash
Super Contributor
Lol - the market saw a candle on the chart, so they all decided it was time to sell stocks so they can get them cheaper tomorrow afternoon! ........ Gotta love the minds of traders.
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saash
Super Contributor
Maybe they were listening to analysts warning investors that we shouldn't be getting too excited about the turnaround just yet - this caused a pannic selloff. Maybe all the investor bankers had a world conference, and they all decided that it was time to take some profits for their customers.
I personally like the theory that markets are sitting at the 61.8 fib retracement since the global melt-down, this automatically makes us all nervous - investors and traders alike - and thus there is profit-taking. But if the news comes out with some kind of genuine report, like poor economic data from China or Europe or something, I'd be all ears for that news too.
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HateGauteng
Super Contributor
Just wondering how far back this ones going to pull?
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saash
Super Contributor
I'm just speculating - for the short term I'd like to see the dow back at about 10450-10500. But it would be nice to see a full retracement back down to about the 9000 level.
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jack12
Super Contributor
PBOChina raised interest rates 0.5%
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Rovert
Super Contributor
the market dipped probably cause you have just bought some calls..
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leminus2
Regular Contributor
Actually I bought some puts last week and the market just skyrocketed and the bad trader that I a m I did not get out when I was supposed to and well this slide is making things look a bit better. Hope it continues for another day or two......???
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saash
Super Contributor
Well, it looks like reporting season has kicked off to a bad start - if that trend continues, we can expect this to carry on for another week or two.
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