35854 replies to this topic

[fabes]

Ye, looks like we are getting a bullish cross on the 30min that could mean the high (41540ish) coming only tomorrow after another leg up....so turnaround Tuesday by name, turnaround Tuesday by nature!

 

Or it's already in....

A

Think perhaps afterhours we will feel the pain. I will short again in the morning(depending on outlook).

[Argento]

That 41300 resistance is proving a tough one to crack. Hope the Bull has a huge headache and she keeps going South!

 

Getting a bit sea sick from all this choppy action.

Ye, looks like we are getting a bullish cross on the 30min that could mean the high (41540ish) coming only tomorrow after another leg up....so turnaround Tuesday by name, turnaround Tuesday by nature!

 

Or it's already in....

A

[Bhova]

Wow....thank you so much!

Sent from my GT-P7500 using Sharenet Sharechat mobile app

[K~~]

 

Think they might have...got a new target for that low...39185ish if my calc's are correct!

 

Think that 200 daily is pushing it a bit, but will see next week!

 

A

That 41300 resistance is proving a tough one to crack. Hope the Bull has a huge headache and she keeps going South!

 

Getting a bit sea sick from all this choppy action.

[Argento]

Futures got to 41366 so far today. 

 

A bit of rough seas for the Bear Boat to navigate.

 

Hope they didn't have too much of the Blue stuff. 

 

Think they might have...got a new target for that low...39185ish if my calc's are correct!

 

Think that 200 daily is pushing it a bit, but will see next week!

 

A

[K~~]

Even if the US or FTSE makes a new high keep your shorts on ALSI, they are just putting in their final touches before they start tanking next week!

 

The bears are sending a secret army on ships and will arrive here next Tuesday!

 

As I said this is wave B up on ALSI and Wave C should commence next week!

 

I see max 41300 on the futures, she might overshoot a bit into Monday!

 

If you trade US or FTSE ask S!

 

A

Futures got to 41366 so far today. 

 

A bit of rough seas for the Bear Boat to navigate.

 

Hope they didn't have too much of the Blue stuff. 

[AJS]

I don't see how banks in the US (the JP Morgans, GS, MS etc.) can post real poor earnings after all the "free" money they got from the Fed...

[Redeemer]

Guys, I sort of stumbled upon this link...amazing the wealth of readings in there. Could be very good for long term personal development.

 

http://www.everythin...oad-ebooks.html

[Plasma]

Anybody out there willing to share what their daily pip targets are? For those who have intraday approaches.....


Mine is between 50 and 100 points.

Lekkerry has stated previously a target of 100 points

Jakes, if I recall correctly is also set on 100 points.

Plasma

Firstly, I assume the target of 100 points a day is a nett total, inclusive of losses.

For that very same reason I have adjusted my intraday target to a weekly target of 400-500 points. I know it sounds stupid, but I got too fixated on that very short term goal of 100 points/day. Because of the very short term mindset I lost out on the 2-3 day moves. So for now I have more than 1 contract going, and will close at least 1 after 100 points. I leave a runner, moving my SL to entry.

PS 100 points/day is 2000+ points/month. If you can sustain that you can make a killing. Cutting losers early is the key...

JJBen...yes ... Daily net. Your post echoes some of my issues....my profits normally comes from my early morning trades and then I stuff it up with trades in the afternoon....letting losers run. So ...putting some new rules on the table....also want to get to the point of having more than one contract on a trade and closing half when target of some sort has been reached...letting the rest run ...risk free. Still have some premature closing syndrome issues. Could have pocket at least 50 points more this morning.

[BBW]

I currently use Traderdscorner(did a technical analysis course with them as well) ;Fransdeklerk,com ; themarket.co.za as well as a private researcher that I cannot divulge here. All have their pros and cons - some are more geared toward longer term trades and some are more defensive.  What is important is to analyze this information thoroughly and to cross reference as well. You can sometimes feel like your'e

getting a bit of information overload, but it definitely narrows down some opportunities as well as supplies broader market insight.

 

I also use a type of HDB's wisdom as quoted to look at counters easily available on the internet (bloomberg.com) that could influence our top 40 plays. I did quite well the past couple of months using tencent as indicator to short/long NPN.

Thank you. Best thing guys like me can do is to identify knowledgable people who get it right most of the time and whom one can trust. US stocks Jim Cramer's (The Street) my guy, even though some people reckon he's a clown?

 

Sunesis, Argento, HDB, Delta66, Mhlato, Perreby, ThatBlackGuy, Plasma, Gamma, etc (amongst a few here), comes to mind, for local (and international) knowledge...

Edited by BBW, 13 January 2014 - 12:38 PM.

[JJBen]

Anybody out there willing to share what their daily pip targets are? For those who have intraday approaches.....

Mine is between 50 and 100 points.
Lekkerry has stated previously a target of 100 points
Jakes, if I recall correctly is also set on 100 points.

Plasma

 

Firstly, I assume the target of 100 points a day is a nett total, inclusive of losses.

 

For that very same reason I have adjusted my intraday target to a weekly target of 400-500 points. I know it sounds stupid, but I got too fixated on that very short term goal of 100 points/day. Because of the very short term mindset I lost out on the 2-3 day moves. So for now I have more than 1 contract going, and will close at least 1 after 100 points. I leave a runner, moving my SL to entry.

 

PS 100 points/day is 2000+ points/month. If you can sustain that you can make a killing. Cutting losers early is the key...

[Rietgat]

Amen! Ditto on the first. Still trying to decide who to go for on the second. Who do you recommend? Powerstocks currently my top consideration.

 

A quick recon i do everyday in morning before opening :

 

Ps note: All IG cash for Alsi and Ftse and also using bid prices

 

 

Alsi IG close at 5pm  Friday  40950

Alsi IG futures at  6.30pm  when FTSE closes 40930

 

 

Ftse IG at 5pm Sa Time when our market closes  6745

Ftse IG at 6.30pm SA time when FTSE closed    6740

 

Rand/pound exchange rate at 5pm  R17.6512

Rand/pound exchange rate at 6.30pm R17.5903

 

Alsi IG as of now 41027

Ftse as of now  6760

Rand /pound as of now  R17.544

 

My calculation of what Alsi should be :

 

6760-6740 / 6740  times 40930   =  122 points  so Alsi should be up to 40930 + 122  =  41052

 

However rand went from 17.5903 to 17.544

 

Therefore Alsi should fall by   17.5903 -17.544  /  17.544  = .0027  times 58% 41052 =   62 points  

 

My calculation of current Alsi =  41052 less 62  = 40990    Current is   41027

 

So 37 points difference is negligible.

 

However i will do all these calculation again at 8am tomorrow morning as futures and pound rate changes

 

 

S is right when he say easier to trade Dow.. There are very few uncertainties to condsider when trading the Dow..

 

However when trading the Alsi there are  100 and one things to consider. Thats why its called the beast and at some times one thinks that it is doing its own thing but that is not correct.

 

Factors to consider first thing in morning before market opens to see which way we will be going :

1. Performance of Ftse futures which is nevetheless influenced by the American markets

2. The pound exchange rate - about 58% of our market is listed in the Ftse

3. As we are resource driven, the dollar exchange rate and price of resources. About 8% of our Top 40 is effected here.

4. The performance of 10cent in Hong Kong as this effects Naspers which makes up about 7% of our TOP 40

5. Performance of Sasol in New York night before as Sasol makes up about 6% of our TOP 40.

6. The Swiss franc/ rand exchange rate as this effects CFR which makes up about 10% of the Index.

7. See what is happening to BHP in Australia as this makes up about 13% of the Index. Ps this 13% is already included in the 58% listed in FTE.

8. Check Australia, Shangai, Hong Kong and Japanese markets to see how they are doing as this may lead to some direction in our market!

9. Watch the economic calender for the day to see if any major news may effect markets.

10. Check any good or bad news on other Bric nations which may effect our market or cause sell off.

10. Last but not least check local news headlines to see if Govt or Malema has not messed up again by making some radical statements in the press which may effect our market only. Also  if any strikes planned. 

 

So if FTSE and Dow are flying does not mean we will also be flying. If rand strengthens against the pound and dollar and resource prices weaken, we could have a red day while rest of world is flying

 

Ps : I may be slightly wrong with my calculations of the TOP40 % constituents above so if anyone can correct it please do!!!

I currently use Traderdscorner(did a technical analysis course with them as well) ;Fransdeklerk,com ; themarket.co.za as well as a private researcher that I cannot divulge here. All have their pros and cons - some are more geared toward longer term trades and some are more defensive.  What is important is to analyze this information thoroughly and to cross reference as well. You can sometimes feel like your'e

getting a bit of information overload, but it definitely narrows down some opportunities as well as supplies broader market insight.

 

I also use a type of HDB's wisdom as quoted to look at counters easily available on the internet (bloomberg.com) that could influence our top 40 plays. I did quite well the past couple of months using tencent as indicator to short/long NPN.

[Plasma]

Bear Catcher .... You around somewhere!!!

[Plasma]

A take on the dallies...if one views the Friday candle as a bullish reversal bar, then trading the last two bars will lead to an long entry at 41 120 ish and a SL at 40 454 ish.

This will correspond to A's Friday comments, but A's short army on Tuesday implies we are looking at a bear flag type situation.....the size of Friday's candle however makes me wonder... together with the fact that it seems to be a bounce of the BB MA ....my 1/2 cent

Or maybe this is wave B as A eluded to.... Lets see what the week brings! Dailies still looking bearish.

*edit* notice the similarity to what transpired during November.

Resistance level was @ 41 125 ish. No long position taken this morning ito my previous post. Scalped some 50+ points in between.
7 micro bottoms at 40 975 ish on 5 min chart....before it broke down....not confident at all in going long...crocodile mode.

[BBW]

I agree totally, but not all of us on the forum is experts on tech analysis, charts or stock market guru's. I for instance is a run of the mill trader that supports Richard Branson's credo of "surrounding yourself with people that are more knowledgeable than you are"!

 

I pay good money for stock market analysis that generally gives me excellent returns, but it is just that much better to  test your research (and your own gut feeling) against the opinions and posts on this forum.

Amen! Ditto on the first. Still trying to decide who to go for on the second. Who do you recommend? Powerstocks currently my top consideration.

[fabes]

Anybody out there willing to share what their daily pip targets are? For those who have intraday approaches.....

Mine is between 50 and 100 points.
Lekkerry has stated previously a target of 100 points
Jakes, if I recall correctly is also set on 100 points.

I've changed my approach. Mine was 100 points.  If there's a good trend, then I hold my positions for that 1000 points. Like with the ride up to 420 and then down again.

 

Today I'm sitting out rather then making 100 points. Could make 100-200 points probably going long, but I'll rather not take that chance.

[Plasma]

Anybody out there willing to share what their daily pip targets are? For those who have intraday approaches.....

Mine is between 50 and 100 points.
Lekkerry has stated previously a target of 100 points
Jakes, if I recall correctly is also set on 100 points.

[fabes]

I'm a spectator today. Have some binaries running, but that's it. Tomorrow is another day.

[davidp13]

You shouldn't go long or short based on what the forum or other guys say, very important to have your strategy and make decisions based on your trading analysis, if you're not there yet then you should papertrade!
 
A

 
I agree totally, but not all of us on the forum is experts on tech analysis, charts or stock market guru's. I for instance is a run of the mill trader that supports Richard Branson's credo of "surrounding yourself with people that are more knowledgeable than you are"!
 
I pay good money for stock market analysis that generally gives me excellent returns, but it is just that much better to  test your research (and your own gut feeling) against the opinions and posts on this forum.

What type of research do you buy?

[AJS]

New goal: Trade to have enough to buy the 2015 Ford Mustang!

 

Sheesh, did you guys see that thing! /drool  

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Edited by AJS, 13 January 2014 - 11:14 AM.