AMS still has a way to go. It formed a double top with resistance at 811. The RSI showed a clear sell divergence at this price. This suggests more down side. IF Anglo decides it's time to recapitalise, you will see it coming off the seems faster.
Based On ockhams model Which evaluates the PE ratios ,market Growth .Earnings my guess for a pull back for AMS would be 625-670 rands I gave them a 29 rands earnings per share for 2010 Fin year knowing in 2009 they had a 85% decline from 2008 any other thoughts , this is provided the dollar behaves
So CPS in terms of your trading method are you going to reverse your position at 730 ? and go long I have banked 65% of my short position I agree with you we could get a bounce but the key here is the odds they are not conclusive I am in the US they say if S&P breaks 1100 we are at key levels futures are down .Lots in the balance ,There are other commodities I beleive are beter long plays this is when the adrenaline plays games what do I do with the 35% so where do you stand mate where is the line in the sand
SurfRat, Dont know so much about the S&P break...gave up trying to relate US to ALSH a while ago. Generally they correlate but JSE seems to lead US in direction. My Line?? Wow on te spot but what the heck. 730 is a mid level mark but I see a little support developing here around 740. I guess I will reverse the position at 715/720 as an absolute line if the TA holds true. I am starting to open slow reversals from 740 down to limit loss.