bank should improve soon.

[CHATTYCHAT]

As long as you monitor from time to time! If I recall from another posting Simon reflected that (at present) banks are on the 2005 levels and worse... Tough times are reflected by the consumer AND commercial inability to meet their obligations and its impact on banking has been mulled over enough in recent months. Having said that, I am inclined to wait and see, but soon would want to increase my holding of some shares. Question is: which share (bank)is to rise above the challenge with enough reward to the patient investor?? No sympathy with the traders - they tend to distort the market.

[louisg]

What I don't get with the techies is that if there was a special for an item at PicknPay that they bought regulary (say nappies) for R130 that usually cost R150, they would rush out and buy as much as they could. When another store sells it for R120 they buy even more. Yet when a long term investor applies this logic they can't seem to get their minds around this. Techies please explain why you don't get it.

[Russ]

You can never have too many nappies.

[john_1]

Louig. The bank shares fell for months and within days of them showing life I posted to you an invitaion to see what a bottom looks like and how you can time your buy, an invitation you declined to accept so before you knock somthing find out a little bit about what it is you are dishing.

[louisg]

Or bank shares at these levels for the long term. OMO

[#6]

IF SA faces a future of high inflation (as all other non-oil producing countries face), enjoy sitting with your "bargain" bank shares at these levels. The human mind is wired to attach value to "bargains", i.e. "discounted prices", and the stock market sometimes doesn't give a hoot about this.

[divz]

damn...techies banks up again virtually all and FSR 3% nogal!

[asylum]

damn... i must be reading the charts upside down.

[#9]

This rally was to be expected. FSR simply closing a gap in the price, left yesterday 1541 -1530. NED gapped down this morning, we needed to go to 9950 today to close it. This is the only reason for the rally and it will fizzle out like all rallies in the banking sector for the short to medium term. I suggest you take some profits here, the markets don't often give you a second chance to get out unaffected...

[Surf_Rat]

This is called a bear market bounce china when that bear falls on top of you before you know it you flat as a pancake some grommets are putting food in these traps

[divz]

So if it was to expected Skip i geuss you went long on FSR this morning?

[#12]

No, I just reduced my position size on FSR and NED. Taking some pain now but not as much as I would have :-) I'm short INL, FSR and NED. If you choose to look at gaps as part of your trading strategy you will be interested to know that NED still has a big gap further down at 9110 and INL at 4477. I've also been short on RLO and REM during the last couple of days. RLO and REM both have price gaps further down. RLO also has a larger target of R38 due to its massive H+S breakdown. Just remember Divz, nobody here is trading against someone else. This whole argument surrounding the banks started because some say the fall is over and that the trend is reversing, which I believe is not the case. The broadening formation on the banking index points to lower targets and thus it is my position. The importantant thing is to stick to YOUR trading strategy and not get too worked up on what people post here...

[#13]

Yeah, like replying to a post and comparing someone to an "idiot analyst ".

[divz]

Respect your view Skip and that you have backed it up with with reasons and your no doubt sticking to your guns..I may not agree but thats my position. What gets me is when one person calls another an idiot because they do not follow a TA point of view only. I gather you rely solely on TA, me im more fundamentals with TA back up.Each to his own but then one should respect the others view stick to their strategy and move on.

[divz]

Skip if you were taking pain 25 minutes ago it must be almost unbearable now.

[#16]

lol, true that. Them stop losses edging ever closer...

[Russ]

Well called Donevan!

[MichaelR]

Well well I have made 18% on Standard bank in just a few days....

[#19]

eish... all I can say. Well Done.

[asylum]

eish indeed Skippy what i find strange is that the banking index showed a bullish dentency but you say its showing a downturn according to what your charts are saying to you, are you not perhaps looking to far in the future instead of focusing whats in front of you now, it may well go back down but right now it showed a bullish wave until the the next resistance around 34 500 or there abouts.omo