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Online Share Trading

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Preston
Super Contributor
@kwagga, Sorry Chief, took a small short position with tight stop loss.
18 REPLIES 18
Preston
Super Contributor
@kwagga, Bloody Hardwork, made some good profit. Phew..........I am exhausted.
prancing_horse
Super Contributor
What did you short?
Preston
Super Contributor
prancing_horse
Super Contributor
I took the plunge last week short SHP, long WHL, both "dogging paddling" at the moment.
Preston
Super Contributor
At what price did you get into whls?
Preston
Super Contributor
@prancing horse Have a look at the weekly chart of WHL. The left shoulder and Head has already formed. The right shoulder is currently in progress. I am a bit bearish of this share. Have a look from Jan 2015 price action, you will identify the left should
prancing_horse
Super Contributor
WHL was the other side of the coin if I called my short on SHP incorrect, insurance so to speak. I realise I could be totally wrong. For me the charts don't come in to it at all. Where wages are going up at 6-7% and unemployment increasing, the poor are going to be hardest hit, the area in which SHP derives a fair portion of it's income from as well as it's exposure in Africa which at present is not in a good space. WHL are going to be affected as well, I feel to a lesser extend. I don't think you're going to bump into Simon doing his shopping at Shoprite or Boxer and so it goes for a lot of others. A PE of 22 vs one of 20, time will tell. Aussie $ vs Rand ?
Preston
Super Contributor
@prancinghorse, thanks for the explanation.
Rams
Super Contributor
i would rather short MSM, always a sure short.
Preston
Super Contributor
Nice Easter Joke :-)
SimonPB
Valued Contributor
prance, yip SHP will lose some out the 'bottom' so to speak .. but they pick up those drifting down from WHL = evens as those coming from up above are less but have higher per basket spend ??
Rams
Super Contributor
Well there are some customers who would rather to without the more expensive woolies roast chicken than buy one from SHP...
prancing_horse
Super Contributor
Simon, I take it then we'll spot you shopping in Checkers wine cellar.
THRESHOLD
Super Contributor
I think PnP is more likely. SHP's stores tend to be in less salubrious locations.
Rams
Super Contributor
I saw a SPAR in Vienna, was even better than our woolies!
Preston
Super Contributor
lol, @Rams, are you taking good care of my child?
prancing_horse
Super Contributor
Closed both positions today. Decent profit on WHL very little on SHP
Preston
Super Contributor
@prancing horse, WHL is struggling to break overhead resistance of R89.90. Let see how it fare tommorrow.