Hi Guys

[cookie]

Gone but not forgotten !!

The downturn in the manufacturing sector has hit hard and like many others am fighting for survival.

Have spent the past six months restructuring and there appears to be some light at the end of the tunnel.

Where is everyone?? Anyone heard from Uncle?

Let me know re London piss-up - suggest you Mancs turn up with cloth cap and whippet for ease of identification ( sorry Steve couldnt resist it )

Martin, Riz and others need your technical opinions.

SHP - could it be heading for 800 ?? Wheres the next stop ??


50% retracement from previous high = 975 will it hold??


Will keep in touch



Cookie

 

[ChartMan]

Welcome back Cookie. No sign of John for yonks....went to a better place...let you know about SHP later.
Martin

 

[ChartMan]

Fib retracement to 960 is on...The current price is at or near a local bottom. From a longer term TA point, it looks more promising, with pos divergence showing on macd osc and others, going back to Nov 2000. Pivitol point here, I think. If 960/990 area can hold, I think the trendline drop to 820 can be avoided. A drop below 950 then sees 820.
Hope this helps you decide....

 

[ChartMan]

Just seeing how it's doing...
Dropped to 952 at 11:09, currently up to 967 at 13:25 Looks as if the drop was due to a 400K sell...
So far, so good...

 

[cookie]

Thanks mate.

Looks like 950 just held up

D Day Monday

I'll keep in touch

Cookie

 

[Riz]

Hi Cookie,

Nice to hear from you...I was suggesting to short SHP yesterday in the chatroom only due to the market rallying no one including me dared to short any shares...

Technically SHP may turn round around this level, but as the -ve sentiment towards it and the downgrades are so strong it may go further lower, also SHP got the habit of overdoing it on retracements...as when it comes back up it does it strongly...like in March when it fell from over 1300 to below 900 and then back to over 1300...

It's a good defensive stock I dont think it will take too long to head back up

good luck

Riz

 

[ChartMan]

Looks like it's going to hold above 945 base line, but seems unable to break resistance at 975...

 

[cookie]

Thanks guys

Am watching closely - perhaps a tech retracement would help to push north but this doesnt look on the cards in the short term but surely must happen sometime soon.

If 945 fails its a short.

cookie

PS Dont believe the recent New York air crash was an accident.
If evidence is uncovered to support this we could be in for a bit of a slide . Cant believe BAY and HG are doing so well .

 

[ChartMan]

I still got my VCR showing another "bottom" and it seems to be stuck on 945 (closing) .Agree, if it closes below 945, it's a short. Tomorrow looks like it will be a good all round day so I'll keep my fingers crossed for you ....The big sells are a worry as is the very low negative Money Flow

 

[Uncle]

Hi Cookie........looks like you and I have returned together. Look forward to your banter along the way

 

[cookie]

Hi John

Hope you are well

I seem to remember SHP being one of your favourites.

Well it seems to have resisted the temptation to fall back to 800
and from 900 at close has been well supported today so far.

Is this the start of the move back to 1100??


good luck


cookie

 

[Riz]

Well Cookie, the bounce from 900 to 940 was nice and put a stop to the fall for the time being...but it's still got to stay over 940 and break through 950 strongly to promise a bigger rise, as todays rise was on smaller volumes relative to the days of big falls...still a long entry around 900 would be nice

Riz

 

[ChartMan]

See the chart in the TA section.

 

[cookie]

Yup

Picked it up Martin

My initial call was for 800ish and its heading that way.

Super share to trade 40 point swing if you can get on the right side.

Waiting for the turn and trend to be confirmed and am putting my house on it.

All the way to 1100????????



Watch WUN Monday somethings afoot.



Have a good week-end



Cookie