Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Optimism seems to be fading

Reply
Not applicable
Still not betting on a correction - so my longs are very much in place but if we don't break through today, then I am going to start taking profits. With Wall Street ever higher and commodities on the rise, you would expect the JSE to be breaking through. But mining stocks are still not in fashion on the FTSE and the JSE is showing signs of weakness (probably because the local boys are staring in disbelief at the prices them foreigners are prepared to pay for our stocks, and the foreign equity inflow is starting to slow down). A correction will probably hit us quite hard, - but let me say this as clearly as I can, there is absolutely 0.00 evidence of a correction in the making yet - so patience boys and girls, and if you are entering new long positions, keep the stops tight.
0 Kudos
7 REPLIES 7
gareth01
Regular Contributor
I totally agree with your sentiments....just went long on two shares (still of value) but with tight stop losses. Personally, I think the markets are going to rally to new highs this week....
0 Kudos
Not applicable
Always with them positive thoughts. Can't leave us alone to grovel in our pessimism. A new high this week?
0 Kudos
Rams
Super Contributor
0 Kudos
divz
Super Contributor
11250 on the dow is 61.8 % retracement of the financial crisis drop. This level has been tested 3 times this year in april and twice in the last month including yesterday where things looked good then did about turn to close flat. Imo this level must be crossed and closed above to give a bullish sentiment just not convinced that there is anything that will push the dow through. Market also not reacting hugely positively on good news volumes not convincing.IMO the first bad news will cause market to come back whether dramatic or not i dont know. So if you long ....tight stops.
0 Kudos
divz
Super Contributor
Fed announcement tomorrow evening could be a moving event.
0 Kudos
SimonPB
Valued Contributor
I don't agree with tight stops .. this market could go to 33k-34k easy enough .. tight stop will see you out and missing the next leg up .. stops always just teh same, well placed below recent lows ..
0 Kudos
Not applicable
agree that tight stops not a good practise. But if you already have longs in place and are entering into a new position now, then you will probably want to keep the new position stops tight, to preserve risk reward ratio
0 Kudos