anz to rebound like a rocket , page-28

I closed off my shorts around 15.80 and have been sitting on the sidelines since (as noted in posts), there is some good trading to do both long and short, even a buy and hold averaged in over the coming months probably will have merit over the long term, although I cant see a buy in around 18 making money for 3-4 years, we may drift up near 20 but IMO thats very unlikely (and it certainly wont hold there for very long),

TA reflects everything thats known about a stock in the market, good TA holds a mirror up to a stock and reflects back the reality without the emotions of the fundamentals, when TA confirms the fundamentals and significant unknown risk that I have outlined here then its time to be careful if your long.

Red and Tawny's commentary reflect my own fundamental view from a TA perspective, Reds significant negative bottom reflects a very worse case scenario where everything goes against ANZ a)Aust and NZ economy significantly weakens b)Monoline counter parties fall like ten pins c)the corporate bond market continues to weaken d)ANZ are forced embarrassing Opes settlement and Crawford finds significant issues.

IMO we are likely to see aspects of all four of these events in the coming months

I hate to see folks loss money (especially myself) IMO the longs need to be very careful at the moment, the beaut of ANZ at the moment is the volatility

IMO ANZs problems are much more serious than the Opes stuff

I will signal my trades when Im ready to go, my finger is hovering on a trade at the moment but it looks to be sideways for a few more days

Good luck to all