Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0

Below link to 2 year chart of ANZ,
Barcoo you can see the double top failure clearly(Nov & Feb), thats what I'm shorting.

http://egoli.paritech.com.au/pco/egoli/charts.asp?myState=redraw&lastPriceDisplay=candle&symbol=anz&symbol2=&symbol3=&time=2yr&PriceIndicator=simpleMA&freq=1dy&VolumeIndicator=none&PriceDisplay=candle¶m1=200¶m2=31&comparisonDrawButton.x=28&comparisonDrawButton.y=9

Also evident multi double tops on NAB's chart.

http://egoli.paritech.com.au/pco/egoli/charts.asp?myState=redraw&lastPriceDisplay=candle&symbol=nab&symbol2=&symbol3=&time=2yr&PriceIndicator=simpleMA&freq=1dy&VolumeIndicator=none&PriceDisplay=candle¶m1=200¶m2=31&comparisonDrawButton.x=0&comparisonDrawButton.y=0

WBC made a new high but got sold off sharply forming a 2b double top.

http://209.155.229.115/paritech_charts/ChartImg1.dll/GetGif?config=paritech&cid=1&exchange1=ASX&Time=2yr&Symbol=wbc&Frequency=1dy&PriceDisplay=candle&PriceIndicator=simpleMA&VolumeIndicator=none&Param1=200&Param2=31&comparisonSymbol=&comparisonSymbol2=&Height=375&Width=500&DateTime1=3520024:25:44PM

The XBF(bank index) further supports shorting the banks again multi double top failures.
http://209.155.229.115/paritech_charts/ChartImg1.dll/GetGif?config=paritech&cid=1&exchange1=ASX&Time=2yr&Symbol=xbf&Frequency=1dy&PriceDisplay=candle&PriceIndicator=simpleMA&VolumeIndicator=none&Param1=200&Param2=31&comparisonSymbol=&comparisonSymbol2=&Height=375&Width=500&DateTime1=3520024:28:02PM

The sell off in BEN has been savage.
http://209.155.229.115/paritech_charts/ChartImg1.dll/GetGif?config=paritech&cid=1&exchange1=ASX&Time=2yr&Symbol=ben&Frequency=1dy&PriceDisplay=candle&PriceIndicator=simpleMA&VolumeIndicator=none&Param1=200&Param2=31&comparisonSymbol=&comparisonSymbol2=&Height=375&Width=500&DateTime1=3520024:30:01PM


Barcoo I take action based on TA, at times I feel a sector is overbrought or oversold & may express those feeling which is how you may have become confused, but I never take action on feelings themselve I always wait for TA confirmations before I go long or short.

I hope that clears up your mis understandings.

JR

Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.