Potential Trade BSL
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Category: Market Discussion
Forum Name: Stock Chat
Forum Discription: Discussion about stocks and markets.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=109
Printed Date: 17 May 2024 at 5:35pm
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Topic: Potential Trade BSL
Posted By: Decan_Frost
Subject: Potential Trade BSL
Date Posted: 12 Jan 2005 at 7:34pm
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I,m not a financial adviser and this isn,t a buy recommendation,but seems like we are all a bit chicken to go out on a limb with a potential mover.So with all that said and a very high probability of this security doing the complete opposite.....here goes. Looking for support at bottom horizontal blue line,around 8.51,with resistance at top blue line 9.00. Go long if support holds, or if breached could bounce at around 8.20, bottom diagnol line. Good luck!..
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Replies:
Posted By: Cobra
Date Posted: 13 Jan 2005 at 12:36pm
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My 2 bits worth?. Daily shows weakness, weekly shows inconclusive ie
too early to call, no firm trend?. It would have to conclusivly break
$9.00 for a breakout to the upside. Depends on your time frame. With
the general market pushing all time highs the risk is that the US will
tank and our market will correct in sympathy. I'm more comfortable with
a select portfolio of stocks (at multi-year highs) to short atm. |
Posted By: Owen
Date Posted: 13 Jan 2005 at 9:55pm
| Cobra, what's atm? |
Posted By: Cobra
Date Posted: 14 Jan 2005 at 12:55pm
Sorry, 'at the moment'. Not some cryptic chart indicator 
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Posted By: Decan_Frost
Date Posted: 17 Jan 2005 at 1:50pm
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Posted By: Decan_Frost
Date Posted: 17 Jan 2005 at 1:55pm
| Would appear,resistance is being experienced,roughly where anticipated.Lets see if we get the push to around 9.00. |
Posted By: Cobra
Date Posted: 18 Jan 2005 at 12:58am
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Decan, Cobra |
Posted By: Decan_Frost
Date Posted: 18 Jan 2005 at 9:08am
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I to am with CMC and trade in CFD,s Not that i would recommend CMC. What exactly do you do with etrade.Is this just straight buying selling shares? CFD,s pretty cool though hey!. |
Posted By: Cobra
Date Posted: 18 Jan 2005 at 4:12pm
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Decan, Just normal buy/sell stocks, etc. I can't complain about CMC too much, only their rebidding gets a bit frustrating at times. Mainly trade the Aussie 200, as it allows scope for a decent day trade return. I like the ability to go short mainly, but you have to put your stops in fairly tight. I've got a watchlist of their CFD stocks if you want it?. Cobra |
Posted By: Owen
Date Posted: 19 Jan 2005 at 4:26pm
| Guys I've actually been thinking about getting a CMC account, mainly because they seem to have the best brokerage rates. So what's CMC like? Decan says he wouldnt recommend it. |
Posted By: Decan_Frost
Date Posted: 19 Jan 2005 at 8:10pm
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Owen Lots of indepth write ups regarding CMC http://www.reefcap.com/ubb/Forum56/HTML/000028.html - http://www.reefcap.com/ubb/Forum56/HTML/000028.html just get the feeling that there skimming and there prices are not a direct follow of the physical market. I,m led to believe some do,but as you say brokerages may be more,but when a quoted price is better and your not getting it,due to the discrection of CMC.Pisses me off. Think MAN Financial might be better ,also is Maquarie now or thinking of doing a similar thing in regard to CFD,s. Maybe someone can elaborate more,as i,m a woffler on such things. |
Posted By: Cobra
Date Posted: 20 Jan 2005 at 3:12pm
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I don't really have a problem with them (CMC) as their the only one I've tried so far. I have read on reefcap above that Etrade may be offering CFD's sometime soon, so will wait to see what they offer. As for CMC, you are not only pitting your skills against everyone in the physical market but also against CMC themselves, from what I have read so far. This doesn't bother me, as it's good to beat them at their own game. I only have a small portfolio with them to test the waters with CFD's. I do have reservations though about the security of my funds when not invested in a trade. From what I've read, most CFD providers have a consolidated account for their clients, and that they don't gaurantee your money. Anyone else read this?. |
Posted By: Decan_Frost
Date Posted: 27 Jan 2005 at 1:00pm
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Well we got the push,to where expected.. Did have a pause along the way,but got there all the same!
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Posted By: Cobra
Date Posted: 31 Jan 2005 at 12:59pm
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Decan, Good spike today, are you still on the trade?. How will you determine when to jump ship?. Cobra |
Posted By: Decan_Frost
Date Posted: 31 Jan 2005 at 1:19pm
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No Cobra unfortunately never invested, money tied up else where. Would though be looking purley at a Stoch Momentum index for signs of overbought on a daily chart.Suspect could go a tad higher before a rest.But hey if your in why not take some profits! Would of proven quite a nice trade over a relatively short time frame.
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Posted By: Decan_Frost
Date Posted: 06 Feb 2005 at 10:48pm
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Would expect things to slow a tad now and maybe even go south for awhile.Hangman candle,RSI overbought.....Good enough for me to start running.
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