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Bull trap - Be careful

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kwagga
Super Contributor
Be careful to pile into shares right now. This looks like a mere retrace in a technically damaged market.
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15 REPLIES 15
Preston
Super Contributor
@kwagga,I want to buy "MTA", but I guess I can get it 35% cheaper if I just wait.
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kwagga
Super Contributor
Keep your powder dry Preston. Only thing you should be doing now. No buys.
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koos2
Super Contributor
This is sage advice, didnt show up on the forum yesterday though, does everone have his/her own little window to manipilated reality around here?
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kwagga
Super Contributor
Koos2 - This probably also didn't show up on your radar either: Don't become too complacent by kwagga on 23 Apr 13:52 ALSI up 3000 points or 6.5% in less than a month. ALSI up 10.7% since 1 Jan. In short, we're headed for some volatility or consolidation sometime in the near future. The trend is not sustainable. So before committing to any new buys, and that include TFSA, wait for a pullback in this market. It promises to be a biggie. Please check when the ALSI hit an all time high. I'll give you a hint http://chartupload.com/viewer.php?file=38932234215283197035.jpg
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Rams
Super Contributor
Well, the shares that has consisitently made me money is shorting MSM.
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Preston
Super Contributor
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Preston
Super Contributor
@kwagga, . Apn is looking tempting at this price. Maybe worth a nibble!
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kwagga
Super Contributor
I'll start nibbling at 24600
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Preston
Super Contributor
@kwagga, The best medicine for this type of market , is for the buyers to go into hibernation and let this market move along on extremely thin volume. I will not buy this markets even with RAMS money.
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prancing_horse
Super Contributor
Still on a demanding PE, if the dollar strength remains one could see it losing another 10-15% IMO.
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Preston
Super Contributor
@prancing horse.. The higher the PE, the lower the % holding of this share (2% - 2.5%) in relation to total portfilio weighted value.
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kwagga
Super Contributor
Yes Preston I would phase my buying into this market, starting with some of the financials which is already stating to look like value. Just a note here - This market could sell off another 10-15% easily, so that why I suggest a phased approach. You won't get everything right, but the idea is not to pick a bottom, just blue chips that will start to offer value at different points in time. Eventually you want diversification in quality at good prices for the long haul.
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Rams
Super Contributor
Don't change your strategy, work out your valuations, buy at your price and move on. This market will not be selling off for eternity. I am watching Mr . Price and LHC. Long term. Short MSM as usual.
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koos2
Super Contributor
Care to mention a few ? I been -6 to -8 off neutral on the asli for 2 years now. Was early. Gonna buy 1 for ever 6k drop on the alsi = your fased aproach
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koos2
Super Contributor
or ita be broken by the time we get to topi 18k.
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