The Trading Floor - October 2017

Discussion in 'The Trading Floor' started by Amator, Sep 30, 2017.


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  1. nottibird

    nottibird Moderator

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    She found support at her 200-ema which is at 3.54. On Tue, 26 Sep 2017, she did touch 3.52 briefly and bounced from there.
    Then from Wed to Fri, her Day Low was 3.54 on all 3 days. She closed at 3.58 on Fri. If she continues to stay at no lower than
    3.54 and consolidates at 3.54 to 3.58, we could have seen her bottom at 3.52 last Tue. I would love to see her fall towards her
    3.40s or even 3.30s to find a bottom there. But its not up to me.

    What's her upside when it is time for her to go back up? I would put it at a modest 3.75. Last High was 3.87 in early August.
    So from 3.58 to 3.75 is 17 cts upside. I was hoping to see 3.45 region so that a run from 3.45 to 3.75 can give me 30 cts to chew on.
    The 1st 170 lots is at 10% margin.
    Capital required is 170 x 3.58 x 10% = 60.8K.

    This fellow is not a market leader but a follower of the broader market. When the banks and the broader market runs up, she will
    follow. So anytime from now onwards if we see the broader market turns and runs up, expect her to follow suit even though she
    may not have fallen to your desired level yet. My desired level for her is 3.30 to 3.40. But I dont think it will happen. The market
    is firm. Plus she has been reporting strong profits and she is a leader in the property sector.

    This fellow pays dividends once a year in Apr/May. So dividend wont be a catalyst for now until another 7 to 8 months. Sentiments
    will. And if a monkey is in the driver's seat, its to him that we look to for her immediate direction.
     
  2. Amator

    Amator Well-Known Member

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    New thread for October 2017 ..................

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