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Prime Short suspects

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A few short positions have emerged from the closet, NPN being a prime short candidate after breaking 10 month support. Any other shorts spotted guys?
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Super Contributor
Hmmm - I like it. Wait for the close.
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well IMP starting to show a little weakness, SOL could be a quick punt, EXX also there, ANG, AMS (but this is a little more risky at the moment), MTN??(not to sure but could drift rather than fall), KIO, BIL.....many to choose from. Problem is choosing the right ones for fastest/max swing. IMO
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Super Contributor
I don't agree - NPN has shown a clear break out of trend - where those you note are just hitting highs.
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Saash, if you like that type of thing check out NTC
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Frequent Contributor
Why do u feel that NPN is a good Short????
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Well, it broke downwards from a 10 month channel. It may make 51% chance of bit more downward movement or 49 % of chance it may go up again!! But infact it doesnt matter where it goes all u have to know is when to get out!!
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Super Contributor
At the moment its on a rally - where that rally fizzls out and turns is key. If it moves back into the channel its a no go.
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Super Contributor
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Go long on NPN. They will get to R320 in the next few months and have indicated that they can breach the previuos R300 resistance level.
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Helo all - just looking back at this post. Had I entered and i did not due to the circumstances I faced last week:

IMP impsbs enetered 23c exited 25c profit 6% profit after costs

SOL solsbs enetered 15c exited 17c profit 10% after costs

EXX exxsbq entered 8c would have sold today at 8c drifting so a 1% loss on costs

ANG angsbs enetered 20c exit 24c profit 17% after costs

AMS amssbz entered 31c exit 34c - 7% profit after costs

MTN mtnsbp would not have enetered, fear of drifting as it is

KIO kiosbs eneter 25c still open

BIL did not look at it as dont really trade it. closer look drifting???

so an average trade of 100,000 shares in each profit would have been between loos of 1% or max profit of 17%. EXX I would have taken more time to analyse before enetering but prefer longer options here. thus you can see a 3% profit per trade 3 times per month is not difficult to achieve.

DICIPLINE IS KEY THOUGH and DO NOT BE GREEDY!!!
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Super Contributor
Depends on your trading timeframe. Playing devils advocate in support of the "trend is your friend" analogy, it's been 7 days since this call .... Using prudence, analysing the low of the 12th and the high of today only 2 good calls :
SOL: Enter low 12th @ 309, exit high today @ 303 - profit trade.
ANG: Enter low 12th @313, exit high today @ 308 - profit trade.
I like to use a confirmed break in trend, more likely to give a better trade. Still watching Netcare for a confirmation of the break.
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Super Contributor
Well it looks like Alsi is testing short term support at 28000 mark. If we close below this it looks like next support (long term)is around the 27600 mark. If we close below that there might be a few more shorting options to look at.....
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Plot ALSH, draw support and resistance line from 9 Mar to today, currently testing major support and trading in the tip of a rising wedge: "Wedge The wedge chart pattern can be either a continuation or reversal pattern. It is similar to a symmetrical triangle except that the wedge pattern slants in an upward or downward direction, while the symmetrical triangle generally shows a sideways movement. The other difference is that wedges tend to form over longer periods, usually between three and six months.The fact that wedges are classified as both continuation and reversal patterns can make reading signals confusing. However, at the most basic level, a falling wedge is bullish and a rising wedge is bearish" Same goes for FTSE and DOw at the moment. Ill scream from the sidelines for now..
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Super Contributor
The RSI should be used confirm a rising wedge. If the RSI is forming lower highs as the wedge continues I would say it's a bearish rising wedge (MRF April to June 2008 and FOS January to May 2006). I have yet to see a bullish rising wedge.
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Valued Contributor
a rising wedge is one of the most unrelible charting patterns around ..
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Well its gonna have to break out up or down some time or another, its the magnitude of the violence im a bit worried about. And on top of that, your chommies at cnbc has me brain-washed of a possible correction of sizeable magnitude in the next week or 2 ...
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Valued Contributor
or it could just continue the gentle upwards trend ??
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Breakout from a falling wedge, on the other hand, is a highly reliable one - and seems to be a firm favourite of OST's own technical analysts. Incidently, that is exactly what NPN is lining up to do. The same applies to NTC
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Super Contributor
........lining up to do........that seems like an anticipation:DANGEROUS.
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