i couldbe wrong.....

[barry_1]

....but when America wakes up at 4.30pm our time most Americans will discover there about a million more people out of work than they were told.Obviously they also get their figures wrong at times!....point i think bulls must run for cover.i am not sure about shorting though,as it might only spike downwards.Could be wrong.

[saash]

Ya - our mining seems a but bullish which is always unpredicable for our markets - but a short lived short feels fairly safe.

[HateGauteng]

Suspect that the market might have already taken this in account. I see americans refering to a 18-20% unofficial unemployment rate vs the 10.2% official rate.

[SimonPB]

it depends on how one defines unemployed .. global the unemployment rate excludes discouraged workers, those whho are unemployed, but have given up looking for work .. so the number always under reports globally ...

[SimonPB]

number was outu at 3.30, slightly worse then expected .. 480k vs. 455k ..

[MAGICIAN]

Eishh Barry - your 6th sense is working overtime

[kwagga]

This is a reality check for all those that think spending yourself out of debt is an option. Everyone is waiting for an EU member to default on their debt, and it seems that US banks have an additional few billion $ in toxic morgage backed securities to absorb. I'm in cash and happy about it. The market is way to volitile for my liking. I'll wait for a lower risk setup to test the water again.

[saash]

Kwagga - where do you live?

[kwagga]

Unfortunately in Gauteng, why?

[HateGauteng]

No wonder you're extinct . . .

[barry_1]

me ,we are probably punch drunk ! Naomi and i have just climbed back into TOPSKC @ 26 cents !

[kwagga]

Could be worse. I could still have lived with my parents....

[#13]

Barry, I am in agreement. This retrace I also think is overdone. too much to fast. 900 points in two days is quite a ride and a quick reverse even just to be testy is almost required, but unfortunately not certain. we may only regain 300 or 400 points.q

[saash]

I know someone else who calls himself kwagga ... what is a kwagga? Not the same as a Quokka?

[#15]

nice one, pajama horse...:-)

[#16]

A kwagga is a decendant (extinct) of the modern day Zebra...a Quokka is a small rodent/kangaroo type marsupial animal the size of a cat native to Australia.

[#17]

ee here for a picture of a quokka, http://justinelarbalestier.com/wp-content/uploads/2007/11/quokka2.jpg

[saash]

What TA Indicators do you guys use?
The way I see it, all markets broke out of quite a nicely established upward trend with clear support, the break-out confirmed with a close below the daily low - we went down some more and then attempted a fib retrace. Only made it to around 23% and bounced around that range but couldn't get higher. Markets came down, and yesterday all broke through the support of that retrace. Unless today shows a huge rally (and I'm not seeing any signs yet), this goes down to the next fib level to retrace the gains of last year. .... what makes you think we might rally now?

[#19]

personally I prefer using only 2 sma's in trading, as I feel they combine momentum, rsi etc, and they never lie. As a rule of thumb on the top40 short/med term using 4&7 sma : if 4under7 then you dont want to be long at all!!!! These technical indicators reflect the news, so the bad news is automaticly built into this simple system already so why listen to the news at all? it doesnt matter!

[saash]

And my question begs - what are these highly esteemed chaps looking at that makes them itch for a long?