Hey Skaaptjop, i was waiting for your response, I am also in your camp and I see this market running to about 30 000 (TOP 40) with that in mind i see this happening hopefully by end of Nov or probably early Dec before futures close out.
Nice one - that is a basis for a good trading strategy! Don't read too much into futures close outs though. There is a well documented phenomenon of the Christmas rally, which tends to happen pretty regularly. Traditionally these rallies start to peak in early to mid Jan.
As my conventional rule of thumb, Anglo would be my number 1 short, if this market was to turn (which is looking unlikely). The rationale is taht you have the biggest market rally in a decade, and AGL hardly gets out of the starting blocks, showing relative weakness. It might play catch-up, but it clearly not flavour of the month stuff
Boet (or sissie?) technicals are an effect, not a cause. They are a filter for stripping out noise. Prices don't rally because the RSI is pointing up. RSI points up because prices rally - you really need to understand that and get your head around the distinction. And I have said this to you before. You clearly don't have a strategy, because you keep asking questions like, what is the target price, what do the technicals say, where to from here. You are going to keep losing money - and truckloads of it. Get a bleeding strategy now - come-on. We can't keep drumming this into you!
I have been looking for a close above 304/305 for this to take off. Hopefully that will happen today. Yes... it has lagged the likes of BHP by quite a bit but a good bottom in place at 265s. I have a lot in AGL, so hoping it pays off.