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Traders Thread - Friday 26th August (TRAD)     

skinny - 26 Aug 2016 06:43 - 2 of 8

Morning!

In the US last night, the Dow finished down 33.07 at 18,448.41 the Nasdaq down 5.49 at 5,212.20 and the S&P 500 down 2.97 at 2,172.47.

In Asia, the Nikkei was recently down 137.95 points at 16,418.37 - the Hang Seng up 116.77 at 22,931.72.

WTI crude oil traded at $47.33 a barrel and Brent at $49.67.

Gold settled at $1,320.10 an ounce.

Trade well and prosper!

skinny - 26 Aug 2016 06:49 - 3 of 8

Quiz of the week's news

3/7.

kimoldfield - 26 Aug 2016 08:28 - 4 of 8

Good morning!

4/7

jimmy b - 26 Aug 2016 09:34 - 5 of 8

4/7

CC - 26 Aug 2016 10:25 - 6 of 8

Morning. I'm looking for some chart advice please.

I'm sitting on alot of "Brexit" stocks bought at low prices on the day or following day after the referendum. House building, challenger banks, insurance. TW., PSN, ALD, SHAW, AV.,LGEN. I have more of the banking stocks and construction from before the referendum. RBS, LLOY, HSBA, STAN, CTO

All the charts look more or less the same. 50 and 200 MA are still going down yet the price share has risen sharply and it's inevitable that in a few weeks the 50 MA will start moving up fast, whilst the 200 MA will continue down.

At some point in a few months we will see a golden cross which would usually be a buying signal.

So, my question is, do we think we will see a kick through of buying and volume at this point driving these shares higher or are the charts so obvious that they buying will start a few months in advance of the golden cross? Thanks

Edit: I've managed to get myself in a good position here - I'm on the trend from the bottom, feel comfortable about holding and I'm trying to work out how to maximize the position I'm in. I can see all the long term downtrend lines on the chart, where I know the share price will stop and dither but "my gut" says there is a good chance they will break through those downtrend lines and set up further rises. I'm trying to understand the charts a bit better to remove my gut instinct somewhat.

skinny - 26 Aug 2016 12:06 - 7 of 8

British economy escapes Brexit blow, for now

kimoldfield - 26 Aug 2016 16:46 - 8 of 8

Happy Bank Holiday weekend all and thanks for these threads skinny! :o)
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