Anglo American.....how much more?

dl.dropboxusercontent.com/u/7238706/ANGLO%20AMERICAN.png

There is a chance - ok, it's a small chance - this is about to break the trend-line and head north....
Excuse the Elliott's: it's there for my benefit and I'm well aware it's open to dispute

This trade is only valid for today only.
At the end of today i will be cancelling the order .

This is filling the gap nicely
Im planning on going long at the gap fill(1579) and trend line(1576) on a first attempt basis.
since both are so close together ,there should be a natural support.
Im going to use a 30 point stop on this so as the stops are below the next support at 1555.
This is a first attempt trade.
This is a new trade . Ive already closed my positions from the other day as closed most of it near the resistance.



dl.dropboxusercontent.com/u/4899609/aal20thsept.png

There is risk attached to this trade due to the fact that it only bounced a few days ago. so be aware.

Nice move on this today...This should be a free trade now.


dl.dropboxusercontent.com/u/4899609/aal19thsept.png

Hi Remo,


Agreed, the chart attached doesn't have anything noteworthy to suggest the levels given.

Here's the link :


There's a table pointing towards supports and resistances, but even then, there's just a bit of info.

Personally, although I love the miners, I still can't get past not liking Anglo-American enough to trade it. I don't know why. I just get the feeling I'd get caught on the wrong side of a trade I suppose!

Off/Topic: I was actually thinking about city analysts the other day. Even if the institutions lost money through bad trades, so what right? Unless its a London Whale, it is pretty much business as usual. Worse case, the tax payer will bail them out if they wreck the bank!

Back to the original T/A - I'm just the messenger in this instance and to be fair, some T/A (such as UBS) is quite good


Regarding some of your buddies in the city, we might actually know a few in common (a couple in Swiss bank, one in a German one, and a couple for a Japanese one) - all useless as tits on a bull... nah, scrap that! Maybe a bit harsh!

Still, they all complain about struggling to pay their £18k per month mortgages on their second homes in London. Yeah, life's just not fair eh?

Libero wrote: Hi Ronnie,

Whilst checking out some Covered Warrants, I noted Soc Gen's take on A-A:

STRATEGY
Below 1780.65 p GBP ANGLO AMERICAN is evolving toward 1449.62 p GBP over the short term. The clearing of 1780.65 p GBP would invalidate this opinion and open the door for 1827.94 p GBP.

SUMMARY
The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. Powerful indicators like the RSI, are not giving us any particular indications in the short term. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS
The stock is positioned to the upside. It is above its 50-day moving average. The position of the 20-day moving average (higher than the 50-day moving average) means that this stock is reliable in the medium term. The first buy levels are on the supports situated at 1449.62 p GBP, then at 1402.33 p GBP; only the resistances, placed at 1733.36 p GBP, then at 1780.65 p GBP, could contain the prices.

I'm firmly on the fence with this one!

Hi libero
I cant see where they get there supports or resistances from????? totally lost
and there strategy seems flawed to me
They could miss out on a lot of trades. There must be a better reason for it.
This is another reason why i never trust institutional TA....
Ive got friends that work for top banks and the way they get there people is based on exam results.Not through experience...lol...They also go for a lot of students from top uni.
Its a shame i cant name these firms (dont want to get my friends in trouble) needless to say some of them are investment managers from the top companies.
The point of the above is actually not related to the thread......It seems nowadays firms would rather go for students over experience.

Thanks mate for that...its always good to have other view points. It would have been nice if they explained themselves a bit. Im still lost....Does anyone else have any ideas about there levels...???
I may be missing things