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In reply to: arty on Wednesday 24/09/08 11:38am

follow-up for shorter time frames


The last green candle in early August failed to keep its promise: next week hit upper channel resistance and down she came again. If anything, the weekly had MQG short again from mid-August.

Right now, sp is sitting in the middle of the channel, meaning I would neither open a new position (be it long OR short), nor close an existing one - if I were to hold long or short.

A break above the March Low would maintain a short-term rising sentiment that is starting to show in MACD; in that case, a week or two from now may even see trades around $49.


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In reply to: arty on Saturday 27/09/08 04:42pm


Not surprisingly, the volatility of recent days muddies the water. Red and green days alternate, and there are several gaps to choose from; question remains: Which one will be closed first?


My chart is giving me a few wake-up alerts that narrow the range to watch:

* Break above $42 could potentially spark a rally to $47 or even $52;

* Break below $36 would more likely send it down towards the channel bottom.


Right now, I have MQG even for short term trades in limbo.


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In reply to: Tylergold on Monday 17/11/08 04:01pm

Probably investors are scared by BNB , so sell MQG just in case


I have Westpac bought at $20 , the "former" supportive line, it broke thru and now see, it is never ending, just diving 3-5% everyday


I am interested to see where the bottom is when the banks hit the bottom....



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In reply to: Tylergold on Monday 17/11/08 06:49pm

Nicholas Moore will be presenting tomorrow and most analysts already seem to predict profit on track for 600 million dollars. This is still pretty good in this climate but lack of confidence is big at the moment. I decided to gample today and got in at 20.30. There are signs it may head to $10 but a broader increase in the market should take the focus off Macquarie for a while.

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http://www.sharescene.com/html/emoticons/puke.gif Its not a pretty sight right now,but the scary thing is for anyone holding this long term is the end is not in sight.I would want this elevator to get stuck on the $20 floor right now and stay there so it can recover.



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