jezza888 said:
Displaying the symbol does help [CS.L].
Today its down 1.75%.
From memory...
When is the first half year results? Is it the end of September?
If my memory serves me well it deals with steel and aluminium. Previous results, all but 2004, were dire. I'm sure China had a hand in the profit pie for 2004, as did most companies of this calibre.
So where is it going? What material medal will it hang on its chest?
Sorry, but I don't have the time to do an annalistic approach to the company.
I will add, of late, nothing has come to the market that will lighten the buyers. Choose another that will turn lead into gold.
Yours
UK
jezza888 said:
Sorry, I can't see any HS there. If you have to decide it then it probably isn't. There is a downtrend on the 130 ma and that has been pierced over the last week or so. Since there is resistance here (haven't looked at todays price) I think I would look at shorting.
Split
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Thanks to all,
Splitlink, thats what I was thinking. Seeing patterns that I want to see isn't always the best reason for an entry.
dsn, cheers for your amendmant on the chart. A few bits there I didn't take into account.
I decided to short it yesteday and its looking okay now. Whether its me making patterns in my head or not, I'm doing my best to move off indicators and alot of this will be trial and error in the meantime, hence the small stocks with slower moves for learning experiences.
Jezza
Splitlink, thats what I was thinking. Seeing patterns that I want to see isn't always the best reason for an entry.
dsn, cheers for your amendmant on the chart. A few bits there I didn't take into account.
I decided to short it yesteday and its looking okay now. Whether its me making patterns in my head or not, I'm doing my best to move off indicators and alot of this will be trial and error in the meantime, hence the small stocks with slower moves for learning experiences.
Jezza
jezza888
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jezza888
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Just checked my opinions on CORUS, BG GROUP, BAE SYSTEMS and the FTSE and compared them against indicators.
I think I shall stick to indicators. They may be lagging but I'd rather be a little late then completely wrong! At least I made money before.
Cheers for everyones assistance.
I think I shall stick to indicators. They may be lagging but I'd rather be a little late then completely wrong! At least I made money before.
Cheers for everyones assistance.
Hi Jezza,
I don't believe that you were completely wrong on BG. You were trading on the idea that there would be a breakout on the down side and you were stopped out on a close stop. That will happen a lot, even with indicators. I've been reading some posts by techst, on the day and swing trading thread. He was interested in CPI. This is a similar situation, with support at 368 all day yesterday, so he was waiting for it
to go to 364 before selling. Maybe you should have waited for a similar breakout of a few points ie. support at 502 therefore sell at 498? My own experience is that it is damned difficult to get in at a reasonable price after a breakdown- selling is associated with a bit of panic, at times.
My method is to let the price come to me so that I can calculate where I think the stop should be and get in with the risk calculated. Of course, quite often the price keeps on coming after I'e opened, with the result that I'm stopped quick.
Anyway. Good luck
Split
I don't believe that you were completely wrong on BG. You were trading on the idea that there would be a breakout on the down side and you were stopped out on a close stop. That will happen a lot, even with indicators. I've been reading some posts by techst, on the day and swing trading thread. He was interested in CPI. This is a similar situation, with support at 368 all day yesterday, so he was waiting for it
to go to 364 before selling. Maybe you should have waited for a similar breakout of a few points ie. support at 502 therefore sell at 498? My own experience is that it is damned difficult to get in at a reasonable price after a breakdown- selling is associated with a bit of panic, at times.
My method is to let the price come to me so that I can calculate where I think the stop should be and get in with the risk calculated. Of course, quite often the price keeps on coming after I'e opened, with the result that I'm stopped quick.
Anyway. Good luck
Split
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I see what your saying about waiting split, but also the problems of getting in quickly enough if the selling is at a high rate. Part of me was trying to be too cocky I think and assuming the downward moevement, I figured it may drop at opening and therefore not giving me the opportunity to enter.
I know I cannot get it right every time but using my old indicator based methodology, I would have stayed out and entered long this morning instead. I want to get away from indicators but then I would still like to make a profit so I'm not giving up just yet, just need to keep at it.
Cheers
J
I know I cannot get it right every time but using my old indicator based methodology, I would have stayed out and entered long this morning instead. I want to get away from indicators but then I would still like to make a profit so I'm not giving up just yet, just need to keep at it.
Cheers
J
