This correction remains far from over and could take a good few weeks, if not months, to complete.
Use all the rallies to take profit but keep a core long as the major trend/cycle is up.
Please don’t chase this market as technically there are BULL traps being set everywhere!
If you are lucky enough to see a move sub $12.40 on the November 21 expiry), own it for the LT.
The triangle formation is broken, the market is broken and it’s either looking to print $12.40 or $11.80.
It’s a real pity we never has a chance to implement the short trade over $14.00 but now all I will say is that this chart will be a BUY of mammoth proportions scale down from $12.50.
Should we see a trade sub $12.00, nothing will have changed other than some players will have REAL panic and should this transpire, own it all!
This chart is a buy and a scale down buy with a stop under $0.88.
I feel that the ST correction is over and that this chart could easily rally to $1.20.
This chart is still bullish and I would buy a dip as 50% is well on the cards!
I have not been sold on this chart breaking much higher and as it stands I am still not that bullish.
The level we all need to watch closely is R7600 as a move under this could see the chart drop with R300 – R500.
The chart has nice weekly double tops and we should see a decent pullback from current levels.
However this pullback will be a buying opportunity as the bull market is far from over.
I would to buy scale down from R9550.
Head on a chopping bloke, the correction looks over!
If I am correct and the correction is done (I feel good about this one) the upside targets will be between $0.85 -$0.89!
I almost feel that we don’t have enough cash to get as long as we would like, buy at best and scale down, this is budget making stuff with sprinkling of retirement!!!!
My “fugly” dog that I love so much is taking forever and a day, but I still feel that all dips are buying opportunities.
I remain in love with this chart even though right now it’s in conflict with my SBO view.