Read the latest interims.......just make sure that you are sitting down.

ptholden, the bull run often starts when MACD is in the negative terrority, RSI can go beyond the 70% mark as history shows this has peaked around 90% (before last xmas). I liked the fact the little tree shake this morning revealed strong recovery in sp is at the moment.

Nabbed this off another freebie board.

Probably get shot down again but its worth a read.

From Evil K friday...

I see that JP Morgan was ramping Renesola (SOLA) today but the combined arse licking of Morgan and Merrill cannot overturn the laws of gravity. The de-rating will continue soon.

R88

Possibly so and you are absolutrly correct re RSI, I don't really rate it that much as an indicator. Don't agree there was a shake this morning, just a reflection of the book at the time and hence the spread (10 pts).

If I had a stance now it would be neutral, although I expect near on 6 to be hit due to the bond issue. Am I the only one who thinks this is being walked up?

If I'm wrong it will have been an interesting few days, but I will certainly be keeping an eye on trades, volumes and indicators during the rest of the week.

Ptholden, i think its now where everybody is debating 'what if or which way will it go' leading upto the results. Imo stick to what the charts tells you.

R88

I think it will go up to 5.88 (ish) and then tank. As far as I am concerned my skewed H&S pattern is still in place. We'll see :)

Still very strong in this market.

Closed at 562p (up 20p) and closing in on 600p by end of week. Shouldn't be a problem. I am sure Evil is seeing red now. LOL!

SOLA has merely closed about where it was about 16:15 yesterday, but still not a bad performance ..... shall still watch and wait

Following a false start, it's doing exactly as predicted thus far. If EK is still short and intends to remain so, he will be building a bigger short position from higher up. As opposed to 'seeing red' I imagine he is rubbing his hands in anticipation of a much bigger fall, assuming of course he's convinced it's still a short. Whether it scoots above 600p depends on the figures in the Results and if the Bonds are converted into shares and subsequently dumped (or not). Were I a holder I would certainly be looking to take profits at the 5.90-6.00 level due to the Bond Issue and uncertaintity of the Results and If I feel that way, what is to say that holders do not? Could be quite a sell off.

AIMHO of course, DYOR etc etc.

:)

PTH .... i am not quite as bearish as you would at least appear ..... will you (shall you, is more correct though a bit archaic) be shorting come 6.00?

Cynic

As I have posted previously, I believed 5.00 to be a shorting opportunity, but didn't take all of the variables into account, mainly the convertible bond issue, which could have proved a costly mistake. Clearly I was wrong, although the chart did suggest that level was sensible. I changed my stance to long for this week when it became clear the SP had acquired significant bullish momentum; however, for the reasons stated in my post 898, 6.00 is going to be a critical level. For the same reason that I wouldn't remain a holder past 6, nor would I short just because it reaches that level. I think the sensible option is to wait and see what happens on Monday, although I do have an itch to place a 'controlled risk' trade with a tight stop!!

I am quite suspicious of the early morning trading activity, I am convinced the SP is being walked up (for obvious reasons). For instance, just after 0800, the SP was 3p/4p up and all of a sudden jumped to 14p/15p as a result of orders appearing on the book, not because a significant quantity of buys appreared, if you catch my drift? Once the SP jumped it seemed to encourage further buying.

I'm sure the Bullish crowd will say I'm talking bollocks and may be I am, but it's an interesting study of SP behaviour.

I think that sort of answers your question ;)

pth

MACD is now into positive terrority, together with the another positive gain despite the general market trend today. The charts still shows very bullish trend at the moment another good soild volume as well and looks like it will reach and go beyond 600p by end of Thursday and may even test the peak on Friday. The RSI up 4% for today with 20p rise, still within non-overbought terrority. No reason to short just yet.

Think that's what I said re shorting, no argument from me ;)

Lot of TA analysis going off here at the moment but lets face it come next monday it will be all about fundies.

Once resistance was broken at 500p, it really had to go up and R88 (Eddie) is right re the MACD, but it can soon change. Charts (TA) tends to be a self-fullfilling prophecy GF so don't discount them totally, there's rationale behind the madness. But I think you're right for the moment, it's all about the fundies now.

ptholden, I gather you use other rival website then?
Very strange ending on sp today, but thats volitality for you I suppose, a little breather was probably needed after considerable since last week. Confident it will mark up tomorrow.

R88

I have a look every now and then to see if one post out of a hundred actually says anything useful, recently - not.

Will be surprised if the march onwards and upwards does not continue tomorrow. I'm sticking with my conspriacy theory for the moment :)

pth

Pth referring to your post 900, have you seen this happen before on this or other shares? I'm still learning. How many brokers are there dealing for sola? is it affecting the order books?

R88

SOLA is a SETsMM stock, which means that anyone with DMA (Direct Market Access) can input orders directly into the Book, this includes MMs and Traders; a Trader using DMA essentially also becomes a MM in his/her own right.

The link below offers an excellent explanation by Gausie, if you follow the gist you can begin to understand how the price could be walked up.

Post 24

Thank pth most interesting. Obviously I would probably understand it better in action, however dont have level 2 format just yet, may consider it later when i get my profits!!! ;-)

By the way do you think they were trying shake off the shorts??