Ultra,
Good to see you having a look at the resource stocks - they are providing good opportunities at the moment.
If we have a flat W4 (I agree with your assessment) I must query the financial validity of shorting the stock and the flat could be VERY flat (and possibly lengthy to get the MACD down for the 5th wave) and so potentially not much opportunty to profit.
I would have thought the best trading outcome would be to let the flat play out and then go long for what should be a relatively sharp final 5th wave and then flip over to shorts for the W2 correction of the whole upward movement.
Thoughts?
Regards,
Jaysee
PS - We should trade notes on the bigger picture outlook on the resource and bank stocks - I am in the middle of a lot of work here and would appreciate your input / debate. Maybe we should swap email addresses?
ripe for shorting?, page-4
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Last
$43.67 |
Change
0.270(0.62%) |
Mkt cap ! $221.4B | |||
| Open | High | Low | Value | Volume |
| $43.95 | $43.95 | $43.62 | $217.0M | 4.958M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 8935 | $43.67 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $43.70 | 10000 | 1 |
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| Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |