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What on E A R T H ??

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CHATTYCHAT
Super Contributor
NED NEDBANK banks 8615 -430 -4.75% this against the rise of ABSA and CAPITEC, while all the other banks made a nose dive today.
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20 REPLIES 20
Theater_Cat
Super Contributor
Absa had its turn yesterday (down +- 5%)
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Not applicable
Bank index has a triple top formation, possibly even a quadruple top, if you take the late Jan pullback. Also check out FirstRand, with its quadruple top formation. Could be an ascending triangle, but volumes have remained pretty consistent. Personally, I shorted firstrand yesterday with a stop at 4020. I am not a momentum trader, but if you were, you would be looking to go long if the bank index gets above 30000.
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jack12
Super Contributor
Agree Skaaptjop, had Ned to lead down, shorted on wed. It seems that SBK is out of sink with the rest. Shorted FSR yesterday
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CHATTYCHAT
Super Contributor
Did you worry about the markets at that time of the day, or did you come off duty and checked before going to sleep? :-)
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CHATTYCHAT
Super Contributor
This was at the root of yesterday's pull back: "The credit environment remains challenging with the group's impairment charge increasing by 108,2% from R881 million for the period to March 2008 to R1 834 million in the current period. This is an increase of 6,9% compared to the R1715 million charge for the quarter ended December 2008, reflecting a slowing of the rate of deterioration in impairments. The credit loss ratio increased from 1,56% for the quarter ended December 2008 to 1,67% for the period (Q1 2008: 0,91%). Although interest rates are currently expected to fall another 200 basis points this year, there is a lag period before the benefits from this are reflected in improved debt servicing and thereafter in reduced impairment trends. Credit loss ratios across the divisions have increased from 2008 year end levels however, the Nedbank Corporate book still reflects low impairment levels"
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jack12
Super Contributor
No, I live in Kazakhstan, 5 hour time difference
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CHATTYCHAT
Super Contributor
Great Metropolitan area we have here :-) I suppose you just came from lunch - do they have tasty wine there?
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jack12
Super Contributor
Haha, this is the country of Vodka and women the rest looks like the Free State
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Not applicable
Shorted FSR with a stop at 4020? We talking about FSR that trades at 1350? That's a stop loss of almost 300%?
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CHATTYCHAT
Super Contributor
I THOUGHT you might come up with something tasty, and you came up with two... come have a look, the F S is an absolute paradise, at least some areas.
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jack12
Super Contributor
Haha yip was there once, mmmmmm a village called Bloemfontein :))
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CHATTYCHAT
Super Contributor
O K, great, but the real paradise is in the eastern regions. By the way, now that you refer to Bloem as a village, I once met a guy who did not know that there is a Varsity down there. And by another way, where are you from and what ere you doing in the Vodka drinking country. (Old Louis Luyt and his look alike sonny boy is brewing up his Luyt Lager again in Ballito Bay nowadays, calls for some serious consideration.)
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jack12
Super Contributor
hehe, The BLUFF, trying to build one of the tallest buildings in Asia. Because of the CRISIS (what crisis) spend most days trading, met a girl got married and generaly having fun.
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Not applicable
yeah well, I don't want to get stopped out you know, it sucks!!
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CHATTYCHAT
Super Contributor
Well, taking the latter into consideration, have a good evening @ 16:58 + 5, nice talking to ya.
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Not applicable
you from the free state ?
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jack12
Super Contributor
Thanks have a good one @22.05 see you next week, I hope you gonna watch the new president and down a pint!! or 2
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Not applicable
Hey Bloem not that bad we have hmmm ... hmmm .... but still not bad
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jack12
Super Contributor
Yeah youre right Bloem has mmmmm....mmmmmm cold winters??? We had -32.5 on Xmas day. End of spring and its 2 night 15 night oC. Damn I miss Durbs and yeah Bloem has got the Cheetahs!!!!! are they still last??
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