Xstrata

am i correct in saying that XTA has now pushed through the short term downtrend line ? or is it bang on? hard to say with the crappy software i have.

ive been avoiding this share due to the take over.

Yep - missed my entry by 5p. By the way, the eagle-eyed amongst you will have noticed that the support level I referred to should have read 894p rather than 984. I must have been thinking of the current SP when I made that typo!

It's looking like someone pulled the plug at 984 - down to 956 at a rate of knots!

This is approaching the short term downtrend reistance which stands at 991p today:



dl.dropbox.com/u/20815047/XTAdaily20_11_12.gif

I've been patiently waiting for this to retrace to the 984p support at the 61.8% Fib, uptrend support and natural support but if it closes above this downtrend I may need to re-think the strategy and go long.

It really doesn't look like the correction is properly complete to me though. Any other thoughts out there? I'm thinking possibly a short at 989/990 with a very tight stop...

hi ftse80

Thats just me my friend. I personally have not used it on shares but if its liquid enough then why not. If it works for you then go with it.
remo