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Please answer this question about today's move on the markets...

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Super Contributor
Logically I would've gone short yeserday afternoon based on Dow future's being 1.5% down or so. What could of let us know that things would be beautifully up today? Besides stocks looking so cheap and a big sell-off last week, nothing said GO LONG! My only thought is to follow Eastern markets since they are ahead of us. If the chinese think its time to buy well then I guess we will know what to do from there.. agree?
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Contributor
eish... i never know... ive got my own emotions re this markt... i wonder when i'll hit pay dirt... for now im mostly in cash! i dunno whether to jump in or stay out... i keep watching from the sidelines...
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Not applicable
Err.. biggest rate cut in 23 years and American market lifting off it's lows considerable on the same day... dunno, but was reason enough for me to go long BIL and AGL yesterday afternoon. Fat profits and smiling.
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Super Contributor
Some people say staying on the sidelines is a risk as well i.e missing out on the good oppertunites. I think I finnaly get it. Tight stop loss and buy when panic selling takes place in this current market. E.g I was in adw at R5 on the day it droped to a low of R3.15. trying to sell out at the Highest price to limit losses was more important to me than Even looking at the great oppertunity at R3.20 to get in long. Oh well Hindsight sure is a wonderfull thing.
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Super Contributor
I think its more about speculation that there will be another cut next week - of as much as 75 point AGAIN. Thing is, IF there is another cut, and already there are people cueing up at US banks for new Home Loans ... Doesn't this just start the cycle all over again, adding fuel to the flames? Worse, if Old Ben does nothing, This all comes tumbling down again. When Europe didn't reciprocate the cuts, the market didn't like that. AND I'm hearing our eco advisors saying that we better off sticking to our tightening policy and lifting rates again next week to curb inflation.
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Super Contributor
Yes agree but isn't this all factored in the market alredy? IF Uncle Ben cut's rate another .75pts...well that cant be good right? Ithink .25pts cut balances it out better for the market. This market just need time now,but it is very difficult sitting in the sidelines at the moment
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Super Contributor
Reading this discussion it is obvious that we all have no idea what will happen next. The 3/4 % drop could have sparked even more selling as it confirms traders fears of economic problems. Stock markets are unpredictable period and it all makes sense tomorrow. Capital preservation is KING and anybody in AGL right now is laughing but IMO the market is still too jittery to call this a rally. Who knows what will happen in the USA tonight with important data comming out this could mean a big down tomorrow or a real rally may begin if the data is good. This is Russian Roulette with hard earned money Im waiting for confirmation before I get back in
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Super Contributor
Electrox i would have done the same thing look at the news yeah .75% fed rate cut market did not seem inpressed actually it went down a bit more after the news, next day look at futures also looking nasty so conclution go short, and then bang im on the wrong side of the road again seems to happen time and again, so from now on gonna im not gonna change my thinking and once i make a decission then ill do the exact opposite.
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Super Contributor
Cycle of stock exchange is a natural cycle like the seasons.I was warned by steve saville FREE servive of record number of lows and reversal.amazing.for excellent and accurate free analysis see daily updates at www.gold-eagle.com, tech analysis section.brian blooms articles are excellent.also see rense.com
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Super Contributor
Org - do you get commission for promoting this site all over the place?
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Super Contributor
Asylum, If I choose the opposite decisions prior to my original decisions when entering the market, There would not be enough space on my face to smile. 9/10 times I got in on the wrong side of the market. Almost feels like a curse,if u know wat i mean.
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You got it all wrong. LIKE I SAID YESTERDAY. We did not break resistance of 24000 and ALSI closed well above the 22000 SUPPORT. That is why we made a KILLING today.
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Super Contributor
Hi Electrox im in the same boat went long today on acl share price did not even break a sweat man a pitiful 1.2% while all around me share prices were on fire, exited short position on sbk and that also hardly moved should have stayed short on that one. still long acl but i fear the worst on that one for tomorrow as huge volume and hardly any movement so i'll probably find mysel on the wrong side of the road again, time will tell maybe need to take a break for a while now down 82k in just over a week. Also had a look at bil before close yesterday and was gonna jump in with 10 long ones and looked at dow futures and thought nah ill get it cheaper today and then bang wrong again. ah my soul for a crystal ball! Have you any possitions for tommorow ?
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Super Contributor
HI Asylum. No i havent any positions for tomorrow because power cut shut me down at about 14:20 while I looking for a position the whole morning. Are ur loosing position still open at 82K? or u taken thoses losses? I have resorted to simulated trading now (which u recomended gt247 ;) thanks)to try and learn from my mistakes. closed all my positions and took my losses. waiting for the right moment. I did notice something though- we seem t follow the hang seng intrestingly enough but only half the effect. with my theory that brings a 1.2% drop tomorow for the alsi. LETs see..
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Super Contributor
have taken losses closed off positions just long acl at the moment and then holding shares in my portfolio. Confidence now out the window need some winners again to build up confidence and bank balance. or maybe get drunk before buying and go for broke , probably do better pissed than sober at the momment.lol
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Super Contributor
Comon Asylum, Its newbies like me that is learning from advise from traders like u. You are knowledgable and logical but the only problem at the moment is that the Market is Not. I Definetley learnt How important a STOP LOSS is now and also not to get back in straight away after being stoped out.
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Super Contributor
mkadir... you making no sense bud. First we fail to break resistance and on the flip side we closed above support? And that's why we made a killing? A few good days doesn't make you a tech guru...
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