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Online Share Trading

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anyone believe in the golden cross?

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old mutuals 50day SMA has just crossed over the 200day SMA, this is known as a golden cross, anyone bullish on this technical indicator?
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john_1
Super Contributor
Bugger I was hpoing it was a Karma sutra position I had not tried.. oh well..
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Never hear of it, but TA is a new thing to me so am learning. Will have to learn more about this, but the little I have seen could be on any short/long crossover so depending on the view and timeframe of your trade this could mean alot or nothing at all.
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Take a look at PPC - your so called golden cross occured on the 2/4/2009 and then see what happened to the share price!
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Shard
Super Contributor
Its the one where you get screwed in the @SS.
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its a bullish trend reversal for the long term, like over the next year.. and its not my theory, i just heard about it on Bloomberg because the mentioned that many technical analysis traders look at this and 200day sma for trend reversal..
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HiSo
Frequent Contributor
50SMA is close to crossing the 200SMA on the S&P500. Given talks about this being a bear rally it might just cross to trap in the long term guys before a big drop ?
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or maybe it wont cross t act as resistance and then drop will have meaning
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To Trade Student - if you look at PPC's chart you will observe that the share price started dropping after these averages crossed and has been moing down ever since. As is common knowledge - do not only use one indicator!
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hybrid and john, great comments lol..
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