So GFI did not meet criteria to short, but ASA did

[HungryPunter]

While people were busy discussing the GFI conversation, Absa popped into my list of short positions. So the short went in, the stop loss was set and now I thought to see how the team of experienced traders see this one going. Would be nice to see this one working the way of the trading plan.

[sponono]

...........and the brewing Head and Shoulders in SOL.Mmmmmmmmmmm......

[HungryPunter]

Good point, I will have a look at that one. Thanks for the heads up on that one. I completely missed out on seeing that one.

[Pluto]

My opinion is you are shorting against an incomplete uptrend - the momentum is positive and has some way to go before it tops out and becomes oversold - and then a short might be on. It occurred to me: our subconscious feeds us regret and revenge trades and so I am just putting it out there that you think this is a good short because you missed the short on 25 June?

[#5]

So, you want to short a stock that has a 4.5% div yield, that benefits directly from a positive GDP forecast and that has been trading basically sideways since July. There are better shorts out there IMO. I would short resources, if I was going to short anything. Exx, KIO, ARI - they are all looking better for the shorting category.

[HungryPunter]

Again thank you for your views, I will consider these items in my analysis. It is always good to get an informed view from people who take the time to think through trades. Much apreaciated, especially the comment about the revenge trade, could be true for me.

[Rams]

Hungrypunter,if its a mechanical system, then all the above comments should not really affect your trades. Try the system on the ALSI futures, then you dont have to go looking for trades that meet your criteria.

[#8]

Yo Rams. How do i get information on mechanical system

[SimonPB]

http://www.justonelap.com/SearchResults.asp?name=Mechanical%20system

[HungryPunter]

Complements to all who contributed. I was stopped out and I will review all comments made in the thread and review if I can use these comments to improve on my strategy. Again thank you for contributing in a positive way.

[Pluto]

Just to complete the story HungryPunter: I went short ASA at 4:20 this afternoon as my momentum indicator turned down from an overbought level - additional motivators were the whole banking sector was down while the broader market rallied. So your idea to short ASA was probably early by a day, but the right call. On another note, I have noticed in the last while that when resources rally, banks and retailers go into a tailspin - today was no different - can't explain why but it is just happening! Maybe just sector rotation?