709 replies to this topic

[Argento]

closed balance here@ 52200 cash for 1800 points.

Awesome trading Polly!

 

And now 2000p back up, got this as a 4th wave in the bigger top building process of the big bull, so one more tiny high to go..something is coming!

 

Count 5 waves down from the high with this morning being a very impulsive dive, could do some rebasing with a tiny new low but should be long now, seasonals turning up from next week!

 

A

[Polly]

PS closed half my short holdings from 54000 to psychological level of 53400. Balance hold till next month or add on retest of 54000

closed balance here@ 52200 cash for 1800 points.

[JK001]

Thought this is the Naspers topic. There is another topic called ALSI.

[Polly]

to be honest, i have a target about 49800 which seems a long way away at moment..Maybe end of next month or towards futures closeout

[Polly]

Nice call Polly!Your futures target?

 

A

thanks, no immediate targte as ill watch it daily.

Low of day today was when it hit upward sloping trendline @53070 futures. beacuse it upward sloping its right at trendline now @ 53178.

 

So trendline holding.  May be a good long here if u interested for a bounce.( cash 53360)

[Argento]

Argento let me give yu some important tips on alsi moves.

 

 

1. Forget US

2. Watch brexit like a hawk as that effects USD/GBP which effectsFTSE which effects us as about 40% of our stcks are dual listed.

3. Most importantly and heres where most getting it wrong. A stronger dollar in old days was good for our markets because of dual listed stocks. However today the ratio of dual listed against banks and retailers has changed significantly. NOW a stronger dollar actually takes our market down as banks and retailers feel the hit, exactly like today..

 

Todays summary.

1. Pound strengthens, ftse down big

2. Dollar strengthens taking dual listed higher but overall market down cos if retailers and banks.

 

 

Watch for major correction in retail stocks going into next month as they just rode the NPN momentum without any serious justification of their values.

Nice call Polly!Your futures target?

 

A

[Polly]

PS closed half my short holdings from 54000 to psychological level of 53400. Balance hold till next month or add on retest of 54000

[Polly]

Argento let me give yu some important tips on alsi moves.

 

 

1. Forget US

2. Watch brexit like a hawk as that effects USD/GBP which effectsFTSE which effects us as about 40% of our stcks are dual listed.

3. Most importantly and heres where most getting it wrong. A stronger dollar in old days was good for our markets because of dual listed stocks. However today the ratio of dual listed against banks and retailers has changed significantly. NOW a stronger dollar actually takes our market down as banks and retailers feel the hit, exactly like today..

 

Todays summary.

1. Pound strengthens, ftse down big

2. Dollar strengthens taking dual listed higher but overall market down cos if retailers and banks.

 

 

Watch for major correction in retail stocks going into next month as they just rode the NPN momentum without any serious justification of their values.

[Polly]

As long as the US continues its grinding up we not coming down hard, think the next leg up soon to start...to dull to sell imo!

 

A

 Angry bears start the downstrend

[Argento]

Yesterdays high of 54000 was it in my opinion. Down from there.

Sometimes fundamentals play a bigger part than technicals. 

Our retailers and banks rode the momentum with horrible results/ economy to upside. Now the after shock as they hit reality. back to 52000 at least

As long as the US continues its grinding up we not coming down hard, think the next leg up soon to start...to dull to sell imo!

 

A

[Snippit]

Agree with the bull trend. The elliott count does not get much more bullish than this.

However, the retrace needs to be at least 20% or this is a clerical error...

 

On second thoughts why not take #2...

 

https://jsecharts.bl...se-alsi_29.html

 

[Snippit]

That's all the bears gonna get, setting up for the next run into end of 54's on TOP40, relentless bull!

 

A

 

Agree with the bull trend. The elliott count does not get much more bullish than this.

However, the retrace needs to be at least 20% or this is a clerical error...

 

https://jsecharts.bl...se-alsi_29.html

 

[Polly]

That's all the bears gonna get, setting up for the next run into end of 54's on TOP40, relentless bull!

 

A

 

Yesterdays high of 54000 was it in my opinion. Down from there.

Sometimes fundamentals play a bigger part than technicals. 

Our retailers and banks rode the momentum with horrible results/ economy to upside. Now the after shock as they hit reality. back to 52000 at least

[Argento]

And ALSI bears arrive on time..now for that retest please!

 

A

That's all the bears gonna get, setting up for the next run into end of 54's on TOP40, relentless bull!

 

A

[Snippit]

The double top on the T40 futures appears to be it for this up leg. 

 

No - it was the elasticated 4th with 5th forming a party hat.  

[Argento]

Naspers following same pattern as Top40, should see a very quick pullback (1000p retest) starting this afternoon into tomorrow morning but need to blink to buy it, from there one way up to 56100 fut triangle target!

 

A

And ALSI bears arrive on time..now for that retest please!

 

A

[Snippit]

Naspers following same pattern as Top40, should see a very quick pullback (1000p retest) starting this afternoon into tomorrow morning but need to blink to buy it, from there one way up to 56100 fut triangle target!

 

A

 

The double top on the T40 futures appears to be it for this up leg. 

[Argento]

Wave 3 has so far given 20% in just 7 trading days. This is the first of 3 upward moves that will create wave 3. This means there will be 2 corrections. The first of these is arriving at a monthe end suggesting it could be quick like the first wave. If so it should not be more than about 4% on the price. 

Then it will be the next upward move which should be at least similar to the 20% of wave (i) and more likely over 30% before the second correction arrives.

Naspers following same pattern as Top40, should see a very quick pullback (1000p retest) starting this afternoon into tomorrow morning but need to blink to buy it, from there one way up to 56100 fut triangle target!

 

A

[Snippit]

Thanks Snippit, looking at your chart does that mean it is in for a bit of a downside?

 

Wave 3 has so far given 20% in just 7 trading days. This is the first of 3 upward moves that will create wave 3. This means there will be 2 corrections. The first of these is arriving at a monthe end suggesting it could be quick like the first wave. If so it should not be more than about 4% on the price. 

Then it will be the next upward move which should be at least similar to the 20% of wave (i) and more likely over 30% before the second correction arrives.

[JK001]

It appears that NPN is completing minor wave (i)...

 

https://jsecharts.bl...aspers-npn.html

 

Thanks Snippit, looking at your chart does that mean it is in for a bit of a downside?