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BHP vs MND

 
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Old 01-03-2012, 08:07 PM   #1
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BHP vs MND

If BHP is riding the resources boom, why is it in a downtrend...
if MND supports resources companies, why is it in an uptrend
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Old 02-03-2012, 07:10 AM   #2
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If BHP is riding the resources boom, why is it in a downtrend...
if MND supports resources companies, why is it in an uptrend
BHP is in downtrend because more players are bearish (majority are selling).
MND is in uptrend because more players are bullish (majority are buying).
They do move independently in opposite direction (often in the same sector), for variety of reasons, which are irrelevant in relation to price action.
Often stocks go up on bearish reports or go down on bullish reports.
Market players' perception move shares up or down, not balance sheets.
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Old 06-03-2012, 11:42 AM   #3
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is 34 the support line for BHP?
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Old 06-03-2012, 12:15 PM   #4
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is 34 the support line for bhp?
33.68 (imho).
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Old 06-03-2012, 08:25 PM   #5
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33.68 (imho).
Alrighty, which date gives that then then then?
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Old 07-03-2012, 06:21 AM   #6
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Alrighty, which date gives that then then then?
Good one...hahahaaa...
Ask Nostradamus.
And if you get an answer - let me know.
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Old 07-03-2012, 10:25 PM   #7
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Alrighty, which date gives that then then then?
Well on one hand I was asking for your methodology for picking support lines. (My approach is just a rough "the line seems to bounce off this number a fair a bit")

On the other hand you may have thought I was asking when we will hit that support line. Based on the last two days my guess is this week. I've got a stop at 33.43, percentage based, rather than support line or pivot point based. I'd prefer if it doesn't hit that mark and goes on to allow me to reset the stop much higher. But I don't care really as it gives me the chance to impartially sell out of positions when I've hit a stop, and then look at other stocks to trade in.
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Old 08-03-2012, 07:00 AM   #8
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Well on one hand I was asking for your methodology for picking support lines. (My approach is just a rough "the line seems to bounce off this number a fair a bit")

On the other hand you may have thought I was asking when we will hit that support line. Based on the last two days my guess is this week. I've got a stop at 33.43, percentage based, rather than support line or pivot point based. I'd prefer if it doesn't hit that mark and goes on to allow me to reset the stop much higher. But I don't care really as it gives me the chance to impartially sell out of positions when I've hit a stop, and then look at other stocks to trade in.
Aha...Now you're talking.
Basically, chart is telling me where support and resistance is, so I am using technical stop which is always set under support line.
Another component is a time. If after initiating a trade, instrument does not move in the "right" direction (in specified time frame), I exit a trade - even if my stop is not hit.
Trying to guess when support line can be hit, is like trying to pick top or bottom. It's a pure speculation.
There is nothing wrong with a percentage stop (some traders are using ATR).
After all, If your strategy works for you, that's what matters.
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Old 08-03-2012, 11:45 AM   #9
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Thanks Tropo,
Previously (well before getting jack of it and just "investing" rather than trading) I was using pivot points (in the style of Darryl Morley), but I was getting whipsawed out of positions due to volatility. I'm hoping that percentage based gives a bit more room for volatility. (obviously depends on the percentage, the article you linked recently, had a 12.5 % (or multiply the initial price (or new high) by .875 ) stop loss and I'll try that on MND and BHP.

I now have to google ATR
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