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Online Share Trading

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Will last?

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Salv
Frequent Contributor
Nice rally we seeing but, how long will it last? Interested your opinions are reasons for them as i am still a novice and at the moment i have no idea why going up and hence cant decide when we will go down ?
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5 REPLIES 5
CrownA
Super Contributor
Short on Thursday pm. All the hoohah of Obama's plan is going to fizzle out when it does not get approved. Hee Hee...
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NJ_1
Frequent Contributor
If I can be so bold as to give you advice, don't look for reasons. I try to look only at resistance and support levels. The market is either moving up towards resistance, or down towards support at any moment. Today TOPI reached 19,000, but thus far hasn't penetrated resistance at 19,300. If we open green tomorrow and go beyond 19,300, then we're probably heading for 22,000. If we open red tomorrow and drop below 19,000, then we need to see which support level will stop the downturn. Perhaps we bounce off 17,200, or else we head back down to 16,000. Predicting the future is futile. Wait for resistance to be broken to go long. Wait for support to be broken to go short. Set stops to get out if the market turns against your positions.
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Salv
Frequent Contributor
Thx for the advice
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Rovert
Super Contributor
NJ, where can we track the TOPI index?
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NJ_1
Frequent Contributor
If you're desperate for up to the minute pricing than I guess you could subscribe to the Price Streamer here. I just have it on my watchlist. You can't set alerts on indices on the watchlist, though, which is a pity.
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