I totally agree, not much positive news, but after that strong pullback there was pockets of value in certain shares. But I do tend to agree most are looking overbought, with little positive momentum to pay the high p/es...time to start shorting the market??? I think so...
there is a point of view that markets price 18 months ahead.There is also a view that markets overeact at top and bottom of market based on the emotions of greed and fear.This allows more intelligent investors to make a decent living from the market-traders of course purely trade the trend and could not care less about 'value'.I personally am in hold mode-not buying as we are certainly not bottoming-not selling either as prices are not crazy high.I will watch and wait maybe for another 18 months or as long as it takes.
Very difficult to see almost anything that might offer value right now. TA doesn't offer too many clues either at the moment. Been looking at charts for the last two hours and I did find something and I'm buying on Monday. I'll post my research after I've bought on Monday. Need to keep that competitive edge. Tomorrow is the shortest day on our calendar year, so longer days are something to look forward too.
The last person who I came across who had this sort of attitude learn't the hard way. She thought she had worthwhile information about our project exam and kept it to herself giving similar reasons. Her information was worthless and she failed the exam. She was a Gautenger as well!
LOL!! Good one HG. As you know this is trading and not an exam, and secondly you as a daytrader of all people should know that information on this site related to a predication is just that -a prediction based on well, in this case a chart and nothing more. Remember rule no 1 - Do you own homework.
It took me less than a year to figure out that the predictions are actually gambling. Nobody knows what is going to happened in the future and especially this year was proof of it. So based on that I can state the following: CFD's and Futures are a variation of gambling. Based on that, it means that banks and so on that sell Futures and CFD's are actually glorified bookies and the JSE is one massive casino. Taking this one step further, what are the odds of you winning at a casino? The same odds apply here. And we all thought it was all above board and very ethical. Hehehehehe