Time to short the banks?

[DF]

Must admit that I haven't had much experience with TA, But surely the good run and current high level looks good for a quick PUT? I also noticed that there are a lot of Bids to buy the above mentioned warrant @14c...it came down almost 25% in one day...surely it could go up by 20% at same speed? I am open and keen to learn....

[#2]

for Gods sake someone instill some sense here....

[DF]

??? DCTrader, Based on what did you say you would go short @24,50??? And what is your view Chartist??? Please Help?

[DCTrader]

Was just a wait and see option... when the volumes come down it could be worth looking at. A lot of momentum at the mo... also waiting for OML to bottom out...

[DCTrader]

Sellers started outweighing the buyers at around R24.55... Went short with SSF. Working out short term but let's wait and see what Monday brings...

[DF]

For what it's worth...I have got the Market Web software and the ROM indicator seems to be accurate in short term trading...It is currently at peak....All the best for Monday....I am in FSRSBZ @14c...

[DCTrader]

Good start so far... Zarp, sure you also smiling! Maybe it's just a dip before it breaks resistance?

[cfm]

Banks tend to do this type of thing every morning. Open low and fight its way back. I get an alert every morning for my NED SSFs and have to reset it after the opening 10 minutes.

[cfm]

SFM is recommending go LONG FSR this morning in the TA report.

[Russ]

I can really think of better ways of getting my kicks than shorting in a bull market.Even when you get pullbacks they are generally so small and fleeting that it is difficult to make any decent profit (a poor risk-reward ratio).I think it is the banks who are smiling all the way to the putsters,not the other way around. Know what I mean?

[DCTrader]

U guys ever had problems with SFM not registering your stop loss??? I set one up this morning but looked now and it didnt even record it... now it's too late when Im doing the trade manually

[Southpaw]

I'm not shorting, just moving the stop loss as we go.

[DCTrader]

Damn thats a useless piece of info dude

[cfm]

I sometime wish that they did miss my stop loss, but never had a problem where it did not trigger.

[DCTrader]

Right, here's the scenario... I shorted at around 24.60 but bailed when it hit 25.10... Now people always say ensure you stick to your original stop loss target. I'm now so farked off because it's back down to 24.60. Looking at the graphs, I realise it wasn't perhaps the best time to short but it was nearing resistance with ROM indicators at the top etc etc. Is the lesson to be learnt that one should only focus on EOD prices and ignore intraday movements?

[#16]

DC : You did the right thing.Discipline exercised.Same on my side....On a Low Volumes day, it was easy to run the Stops.Congrats to the Bulls.##..Anecdotally,old Jesse Livermore, the "Boy Plunger" had the same methodology of testing certain levels.He always covered quickly when he saw Demand rushing in.No questions.Back in Cash.Wait.

[john_1]

DC You are talking out of your Butttt man, You cant try stick to some rules of TA and not the most inportant rule of TA wich is TRADE THE PRIMARY TREND ONLY that is long baby long.

[DCTrader]

Likewise John... within the primary trend there are also pullbacks. Granted that the timing for the short was probably off, I'm asking about the exit move rather than the entry.

[bothac_1]

Hi..I bought FSRSBZ this morning at 12c, would you try and sell at 13c or keep it and see what tomorrow brings. Looking at a profit of R2 000.

[JohnnyCash]

Personally Id reckon everyone will do well in heeding the following warning - DO NOT TRADE PUNTSTERS peddling, supposed know what they are talking about, on this forum. U are gonna get burnt. Take notice of what's being said but dont go buying bank puts because some oke, who's prolly got know clue, punts it!