ASX SECTORS set up CHARTS for all the ASX Sectors using a page template which included my Modified 20 MA and the RSI indicator. sectors which stood out as ready for shorting were information technology and consumer discretionary.
sifted out IT with market cap. over $800 m. on commsec site and got just only five in number the big ones - car sales, computershare, irress, etc.
shorted both carsales and computershare. while both these stocks are in o/a upward trend the potential down within the trading band from the top is still a good percentage.
experimental trading solely on TA here, but only with smaller amounts of money. this was certainly not my intention to trade in this manner before entering this arena - we will see how it goes.
