shorts starting to take shape

[#1]

Great call man:p..Is that 980 level on the SnP gonna hold?? If it doesnt than the Elliot wave wouldve been spot on..Im hoping theres no bounce..We need persistent selling to confirm the trend reversal..Our ASA looking pitch black today..Kicking myself for going short a touch early or wouldve been so much better:)

[theyoungster]

yip what i find so strange is that we recover from "worst recession in 30 years" in one year and the markets rally stocks up >30% all seems a bit unreal to me...

[#3]

traders don't listen to reason, we listen to sentiment. ('Skaaptjop 2009')

[Russ]

Just had a quick look at some of the resource charts eg.bil,imp ams,kio,exx etc.Despite this pullback none of them have fallen through the support of their bull trends,and some are quite oversold.I don't know why the bears are getting so excited.If anything this is a fairly low risk area to go long,with stops just below support.

[pb41]

US markets are being affected at the moment by the approaching Labor Day long weekend. It is normal for their markets to reverse in the days leading up to a long weekend. In my opinion the probability is higher that markets will resume the uptrend later next week or at least move sideways rather than continue to decline.

[DEP]

I share your views, I think we will resume upside by Friday after data release. Just look at our markets, out-performing Europe / US past days, not many local guys selling.

[barry_1]

Further to Great Callers veiw,i have just received an e-mail that warns that Angloplat unions have not endorsed their wage offer and are likely to strike as well as the continuing strike at Impala.This with the very negative platinum price due to lowered expectations of recovery wil probably lead to downside for the plats in the immediate future.

[#8]

That "end is nigh" feeling of 6 months ago is absent in the news that's out there at the moment, only that the market has run a little harder than anticipated. And for that reason buyers will jump into any dips. The fund managers who stood back in April are plunging into the markets now because investors want to know why they missed out on the recovery.

[#9]

sure there will be up days, but this market is gonna have a significant pull back, around 8000 for the DOW, and i guess 21666 support for our all share (not TOP40).. guys whenever we had dips in the last 6 months or say 2 months there were always buyers coming in, but now they have dried up, and when forced sellers come in (all those derivetives guys) who thought theres no end to the rally, when they have to close out as stop losses kick in, its not gonna look pretty..

[WES]

I just find these bulls that keep on beleiving we are on a up trend and will stay going up unbeleivable. I mean TA is all fair and great but you can not discard fundementals, Eskom incresed their prices by 31 %, the avarage wage increases went up 10,5 % ect, ect, ect. You cannot just look at a graph on a computer screen and beleive we are in a bull market, go out and buy a newspaper and see if the general feeling is that our economy are doing great guns ! No, people are suffering, losing their jobs, trying to survive, cutting down on consumer spending. I mean standard bank iniated a long position on anglo on the 25th Aug just to close it today......and you known why ? it is because they only looked at TA and not fundamentals.