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Community


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Online Share Trading

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Shortening

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Preston
Super Contributor
@kwagga, Sorry Chief, took a small short position with tight stop loss.
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18 REPLIES 18
Preston
Super Contributor
@kwagga, Bloody Hardwork, made some good profit. Phew..........I am exhausted.
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prancing_horse
Super Contributor
What did you short?
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Preston
Super Contributor
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prancing_horse
Super Contributor
I took the plunge last week short SHP, long WHL, both "dogging paddling" at the moment.
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Preston
Super Contributor
At what price did you get into whls?
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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
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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 ?
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Preston
Super Contributor
@prancinghorse, thanks for the explanation.
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Rams
Super Contributor
i would rather short MSM, always a sure short.
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Preston
Super Contributor
Nice Easter Joke :-)
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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 ??
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Rams
Super Contributor
Well there are some customers who would rather to without the more expensive woolies roast chicken than buy one from SHP...
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prancing_horse
Super Contributor
Simon, I take it then we'll spot you shopping in Checkers wine cellar.
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THRESHOLD
Super Contributor
I think PnP is more likely. SHP's stores tend to be in less salubrious locations.
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Rams
Super Contributor
I saw a SPAR in Vienna, was even better than our woolies!
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Preston
Super Contributor
lol, @Rams, are you taking good care of my child?
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prancing_horse
Super Contributor
Closed both positions today. Decent profit on WHL very little on SHP
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Preston
Super Contributor
@prancing horse, WHL is struggling to break overhead resistance of R89.90. Let see how it fare tommorrow.
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