35854 replies to this topic

[@sirgrantfleming]

Your thoughts on a potential double top for SAB Miller if it closes below 60 000 in the next couple of day's?

or an inverted H&S?

[Casenova]

http://www.fin24.com...losses-20140708

 

 

Interesting... but journalistic

[Casenova]

Weekly chart is looking as if it confirms what you guy's are saying. Usually when the weekly RSI goes above 70 the bears escape from the zoo and the bulls go play overseas. See the chart for details.

Attached Files

•  South Africa 40 Cash (ZAR2 Micro Con (-).png   35.64KB   11 downloads

[Argento]

Yip, intermediate 4 will get nasty...but should zig zag a lot, so holding my shorts into August!

 

This is actually the beginning of the bigger top formation for the bearmarket when this bullmarket concludes next year...but intermediate 5 up into October will be a great buying opportunity when this leg ends (don't try to call the bottom)!

 

Great article to read by David Petch..he knows his stuff!

 

http://www.safehaven...ant-update-ever

 

A

Another reason for my bearishness!

 

Look where she hit and turned..the major bullish channel upper line and normally creates bigger pullbacks!

 

A

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•  T40 Bullish channel.jpg   137.97KB   14 downloads

[Casenova]

Macd suggests definitely a possible double top..she has broken through her daily 21 moving average (blue line) so pretty bearish!

 

Fits in with this intermediate wave IV on the TOP40...if you look at intermediate 1 and 2 this could hurt the bulls!

 

A

My sentiments exactly ! lets see what happens

[Argento]

Fib ratio gives target for minor wave 3 of 47575 (futures). Chart pattern suggests this is a small pullback then new highs before this rally ends.

Since Minor 5 made new uptrend highs, this pullback could still be considered either way as the start of a new downtrend, or Minute wave ii of Minor 5.

Below 46550 or failure to make new highs during the next rally with a drop below this pullback’s low then 47250 probably ended the uptrend.

Caldaro's view!

 

A

[Argento]

Your thoughts on a potential double top for SAB Miller if it closes below 60 000 in the next couple of day's?

Macd suggests definitely a possible double top..she has broken through her daily 21 moving average (blue line) so pretty bearish!

 

Fits in with this intermediate wave IV on the TOP40...if you look at intermediate 1 and 2 this could hurt the bulls!

 

A

Attached Files

•  SAB.jpg   132.44KB   10 downloads

[Vertebrae]

 

Unitdy to leave gap, even tiny ones.

[Vertebrae]

Fib ratio gives target for minor wave 3 of 47575 (futures). Chart pattern suggests this is a small pullback then new highs before this rally ends.

Since Minor 5 made new uptrend highs, this pullback could still be considered either way as the start of a new downtrend, or Minute wave ii of Minor 5.

Below 46550 or failure to make new highs during the next rally with a drop below this pullback’s low then 47250 probably ended the uptrend.

 

 

[grantmu]

Ye, big waves coming but important to let mr market confirm that top or bottom first!

 

Most guys going to buy this dip now and get burned!

 

A

I have a serious problem with bears that come in waves (not the Elliot kind) every time it costs me big time, 2011 was very painful for me. we will see if i have learned anything in the past couple of years. 

G

[Casenova]

Your thoughts on a potential double top for SAB Miller if it closes below 60 000 in the next couple of day's?

Attached Files

•  SABMiller PLC (SA) (-).png   14.42KB   5 downloads

[Argento]

I read the article and must say, ironically, i agree with the statement "For those who can time things right, buying near the coming bottoms and selling near their short-term tops stand to generate significant returns."

Ye, big waves coming but important to let mr market confirm that top or bottom first!

 

Most guys going to buy this dip now and get burned!

 

A

[Beorn]

I will close the rest @ about 46600-500.

Finally, a good yielding short.

Not being greedy or are you expecting a bounce?

Remember, I trade futures, so that is more than 200 points down from here. So just about a 700 point gain all in all.
To me, that seems greedy.
And I have that as strong support.

But lets see what happens.

[Casenova]

Yip, intermediate 4 will get nasty...but should zig zag a lot, so holding my shorts into August!

 

This is actually the beginning of the bigger top formation for the bearmarket when this bullmarket concludes next year...but intermediate 5 up into October will be a great buying opportunity when this leg ends (don't try to call the bottom)!

 

Great article to read by David Petch..he knows his stuff!

 

http://www.safehaven...ant-update-ever

 

A

I read the article and must say, ironically, i agree with the statement "For those who can time things right, buying near the coming bottoms and selling near their short-term tops stand to generate significant returns."

[Argento]

Well come to the club of wrong trades, when i put in a trade the market allmost imediately shoots in the opposite direction, had a long weekend with my trade of friday luckily got out of it.Sitting and watching from the side just when i want to trade the market goes up so i am not convinced of this downleg. Argento are you still sticking to your short target?

Yip, intermediate 4 will get nasty...but should zig zag a lot, so holding my shorts into August!

 

This is actually the beginning of the bigger top formation for the bearmarket when this bullmarket concludes next year...but intermediate 5 up into October will be a great buying opportunity when this leg ends (don't try to call the bottom)!

 

Great article to read by David Petch..he knows his stuff!

 

http://www.safehaven...ant-update-ever

 

A

[bear catcher]

I will close the rest @ about 46600-500.
Finally, a good yielding short.

Not being greedy or are you expecting a bounce?

[Beorn]

ZAR to the rescue!

Beorn did you close your kitchen sink short of last week or are you still holding on?

I have actually been adding @ 47200


Will see if this breaks me or makes me.

Closed some @ 47000

I will close the rest @ about 46600-500.
Finally, a good yielding short.

[grantmu]

just picked up a short I have been towing around for more than a week, jumped the gun a while ago, lucky I got it back 

[Casenova]

It was my own fault. I "anticipated" the move without PROOF. Even though the loss was small, its just a reminder that. If you are going to put "it" on on a block without seeing the direction, "its" going to get cut off!

I agree, I think the market place is littered with traders trying to short out the ALSI in the last couple of weeks because the indicators is screaming overbought. I think what should be remembered is that the only real-time indicator is 'Price'. and one should never forget about the main fundamental aim of business which is to make a profit.

[Wingnut]

Yeah, i had a time when i went through that as well. Every trade i touched exploded in my face. But the learning curve went the opposite why... They say "Reading the fine print is training, not reading the fine print is experience! Good luck

 

Well come to the club of wrong trades, when i put in a trade the market allmost imediately shoots in the opposite direction, had a long weekend with my trade of friday luckily got out of it.Sitting and watching from the side just when i want to trade the market goes up so i am not convinced of this downleg. Argento are you still sticking to your short target?

 

It was my own fault. I "anticipated" the move without PROOF. Even though the loss was small, its just a reminder that. If you are going to put "it" on on a block without seeing the direction, "its" going to get cut off!