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PPI figures at 10.3%!

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DEP
Super Contributor
Surely, PPI at 10.3% is a negative for banks and retailers. Rand might strengthen...
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11 REPLIES 11
DEP
Super Contributor
This is Interest rates negative. we can see the immediate effect of banks.
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Note the rand has also just broken support, I see it now testing 6.7 then 6, this is also a bearish factor
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Note the rand has also just broken support, I see it now testing 6.7 then 6, this is also a bearish factor
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DEP
Super Contributor
So what is your trading strategy, consedering that tomorrow and tuesday the market is closed?
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Wizard
Super Contributor
That is a bad inflation data...The Rand should get weaker mind u!
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Yeah, that number was a tad on the high side. + CPI = now look at the Monthly BANK Chart and see how TA + Fundamentals meet. Conclusion: a reasonable probability of Short-success if employed at current levels of entry.(groom,groom,Purrrrr..)..Moving on, others can possibly benfit since I entered the Short-side 3 weeks too early(Scratch,scratch,Face) with my SBKDBVs(averaged at 18c).##..I still like that Strike.There is time.The charts look good,and the PPI-thing looks Cherry on Cake.The Rand should thus WEAKEN, and the Bond yields will reveal Market intentions before a rate-hike is announced..We shall see.
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US GDP numbers acc. to briefing.com are rated lower (1.5%) than the market estimate(2%), briefing .com also rated the Durable orders numbers higher than expected, they were right, If the GDP numbers come out lower than expected(they probably will), it may be very bad for the markets as durable goods were higher. the rand has broken support, the market has broken its multi week support, our inflation is bad, market has risen lots, market bounced off monthly resistance, I think these factors has to push the market down, or it will eventually realize it was and is irrationally too high, i think we are going to fall to 24300~ or maybe less before we continue higher, remember "Sell in May and go away", this happened last year so end April should also add fear to peoples minds; Put the market IMO
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DEP
Super Contributor
Wait for April CPIX and PPI no's coming out next month. They are going to be back because of that big petrol price this month. I am staying out of this market specially Banks, retailers and property.
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RSI just broke 70 and MACD broke downward, SELL SELL SELL, or remember i told you so. IMO
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Just broadening the Pic somewhat, I went a little Treasure-hunting re Indexes,P&Fs,Shares - Monthlies,Decades,Weeklies,blah...Summation:We'll bounce at the March Lows.It configures..###. as we watch the PPT give the "Short" on Gold,readying to super Up-blast the Dollar Index,sending Euro back to 1.34,supporting Treasuries,causing short-term Gaaaa ! sell off in all Mkts...and then we bounce again... and on and on.Until insane.
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yes always a few steps ahead...
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