35854 replies to this topic

[Shortboy]

Whichever way I go, a chart is my starting place to see highest and lowest and price action. Then I follow through with fundamentals. Check out Diamondcorp...its graph is absolutely crap...that spike you see was our buy day!

 

Fundamentals:

Share used to trade at R15 is now R1;

Ex investors have ran off;

Project on track;

Owners buying shares;

Classic: "value" proposition in a long term business:- Ex shareholders hate them, they did not deliver, Over promised, etc

Project: Finance in place, overheads taken care of, mining budget on track,

 

I like the diamond story. 

The best deals I have ever done were not on the market.

[Shortboy]

If you looking at sitting in a trade for months on end then yes..fundamentals are extremely important. Macro's and by their implications their  underlying fundamentals are more useful to the investor than the trader. I promise you..when that someone asks those questions you posed above and they have their answer you will to. It will be in the charts

Whichever way I go, a chart is my starting place to see highest and lowest and price action. Then I follow through with fundamentals. Check out Diamondcorp...its graph is absolutely crap...that spike you see was our buy day!

 

Fundamentals:

Share used to trade at R15 is now R1;

Ex investors have ran off;

Project on track;

Owners buying shares;

Classic: "value" proposition in a long term business:- Ex shareholders hate them, they did not deliver, Over promised, etc

Project: Finance in place, overheads taken care of, mining budget on track,

 

I like the diamond story. 

[Mad Max]

2 things on our markets..We are not overbought..RSI is still below 70 on the daily(63) so lots of scope for upside even though we are new record levels. Charts don't see records..thats a human emotion. Secondly, foreign inflows have gone positive for the first time last month having seen 3 months of negative outflows. Thats a tap that opens and closes slowly. So having just been opened it will take some time to close again(Think trying to close a bathroom tap that has been opened all the way. It takes a while to cut the water supply)

So tomorrow we should see negative divergence on the CCI daily  if thats what you are following for the first time.(There was negative divergence on the 4hr and we sold off to 43680 so that box is ticked) Incidently 43650 was resistance on the 2,3 9,10 April  and now support level(ROCKSTAR if you followed your tutorial you would see its principles in action today)

Hello GB, I  did see that and even though it tested it (IG 43670)   as support today I suspect it would be revisiting that area soon . I am also guessing that it would it rise to 44444 before falling to 43400   - 200 for the wick to 43200 for that support test . I made it 44444 as it looks good.   It looks it is very close to overshooting the upper BB limit which means in theory it should do a reversal from 44444 ... maybe .

[Shortboy]

2 things on our markets..We are not overbought..RSI is still below 70 on the daily(63) so lots of scope for upside even though we are new record levels. Charts don't see records..thats a human emotion. Secondly, foreign inflows have gone positive for the first time last month having seen 3 months of negative outflows. Thats a tap that opens and closes slowly. So having just been opened it will take some time to close again(Think trying to close a bathroom tap that has been opened all the way. It takes a while to cut the water supply)

So tomorrow we should see negative divergence on the CCI daily  if thats what you are following for the first time.(There was negative divergence on the 4hr and we sold off to 43680 so that box is ticked) Incidently 43650 was resistance on the 2,3 9,10 April  and now support level(ROCKSTAR if you followed your tutorial you would see its principles in action today)

That's the point, charts only tell some of the story....at some stage someone eventually asks, how much is this index or share actually worth? How many years of future earnings am I paying for? What's my house worth? Did you buy a house based on charts? Of course not, you wanted to know what houses went for in the area, what the rentals and perhaps levies were....and all the other stuff...fundamental stuff.

 

ALSI40 is just another asset, a highly $/Euro influenced asset, essentially focusing on risky commodities like Chinese based gambling websites, Chinese reliant luxury goods providers, Chinese iron ore buyers, Chinese platinum buyers, Chinese growth in cigarette consumption....

 

Its a theme. Use it, lose it.

 

Our ALSI40 market, on a 14 year median PE is extremely expensive, possibly the most expensive in the world right now. Its NOT just about trader charts, it includes fundamental charts.

[delta66]

Good for you Delta!

 

I offloaded my earlier long into the up move tonight and used the earlier down move opportunity to reduce my short position to only those bets sitting at or around ALSI IG 44k....I was carrying quite a few points on 1 of them from some stage in the last week or 2 and let it go at at a 100 point loss...they are micro's so no sweat.

 

Have you been going long purely because of graphs/support/ resistance/ or because of some other fundamental reason?

thanks shortboy..i trade daily with normally a 100p/day scalp target..trade the days channel/ long off bottom and short off top

in/out long/short several times during a trading session.

[Mad Max]

Hi Rockstar, Thank you, I found it very informative.  Where can I find this information as I would like to watch more of his video's.

Hello Bev,  I went to  one their websites (tradersplayground.com) and there's nothing much there.  I think we take that as a gem and hopefully we will find more and share !  However I wish I had seen that video much earlier in my 9 month  ALSI and CFD trading and wouldn't have been "shaken" out so many times.

[Shortboy]

Good for you Delta!

 

I offloaded my earlier long into the up move tonight and used the earlier down move opportunity to reduce my short position to only those bets sitting at or around ALSI IG 44k....I was carrying quite a few points on 1 of them from some stage in the last week or 2 and let it go at at a 100 point loss...they are micro's so no sweat.

 

Have you been going long purely because of graphs/support/ resistance/ or because of some other fundamental reason?

[delta66]

out 43930 (240 point for the day)

[Shortboy]

Me thinks it would need to break down during J200 trading..Out of hours pricing is a bit to wish washy..We will close the gap from Fridays close closer we get to opening tomorrow

Good point. Looks like we just did, even though it's after hours.

 

Find it interesting that there is such up strength with everything that is going on...oil down, gold down, platinum down, silver down, US treasuries strengthening, Ukraine heating up, gas prices rising.... 

 

Heard it before, by going short 1 is simply creating the opportunity for a new high when the stop loss hunters come in. Its okay though as long as the bets are small enough to withstand a wide swing, up or down.

 

Trouble is I think there is something more at play here and possibly what is underpinning the share markets....not prolonged low interest rates but more like things such as "depreciating" currencies or currencies losing their "perceived intrinsic" value. Who

knows, we could all be taking positions in markets that actually don't have any value.....just a thought.

[delta66]

will add again around 43630 should we see that level..

[Shortboy]

..added at 43780

Chubby's daily bikini top CCI has just finished 2nd piece.Took out a small long just in case we have the usual short covering at S&P index close tonight. My existing shorts at around 44000 IG are still intact with a view to adding above that level should ALSI decide to climb again.

[delta66]

..added at 43780

[Beorn]

 ImageUploadedBySharenet Sharechat1398702880.870295.jpg   105.91KB   24 downloads

Interesting graph regarding pending home sales

[delta66]

order filled long at 43880

[Vertebrae]

Rem: This is an echo...

1st rule of The Craziness Club: You have to be (at least) thinking that you are crazy, if not please leave now.

I only wish that someone had been so kind as to give me this rule & option.

But you never think you are crazy until it is too late.

And then you are so crazy that you cannot revisit your origins and warn anyone.

[delta66]

out for another 50 points 43950 (140+ points bagged so far)..order in long at 43900 again

[delta66]

out for another 56 points and short from 44010

[delta66]

yep GB   entered way to high at 43900 but still confident i'll take a few points away..but in case , another order sitting at 43750

[delta66]

edit* my mistake...long pos filled @43900/deleted short order @44000

[delta66]

back in short 44000 sa40 cash