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Fair play. You know a lot more about the fundamentals than me. I trade off the charts. Not sure the pensioners issue is guaranteed to stay positive with annuity rates falling, parents being forced to help their kids with mortgages as unemployment rockets, so there may not be the spare cash around for luxury holidays. Maybe CCl customer base is of the super rich, I don't really know GL
Possibly. Difficult to chart accurately given yesterday's big news driven rise. Can't help thinking the market is being taken up only to be brought back down again Quite funny looking at other BB's yesterday when wild predictions were being made about £3 for Barc by xmas etc. Normally a time to start thinking about looking for shorts
Got out at a loss! You were right about 525. When the euro news settles down I will review again. Not convinced PSN is now in a trading range above 500 long term. We will see. For now just kept my longs open on other shares which is mitigating some of the loss on PSN! GL
Not easy to chart. SP seems unconnected to any MACD, stoch or RSI indicators I use, although that is pretty usual where there is little or no volume, as the case here. However you will see from the attached chart that it was in a descending wedge pattern but broke out of that 27th April - Did that coincide with some news? It was a genuine breakout accompanied by high(er) volume but stalled at 66 before falling back to 51.50. Its been trading between those two figures since and looking back to 2008 these sp's were important support and resistances as they are now. What we need now is a breakout over 66 with some heavy volume. The 200ema is lurking there as well which as you know can provide resistance in itself . The wedge pattern mentioned is often an accumulation pattern by someone, in this case probably Weiss as he mopped up shares sold by holders fed up with the drop. Often such accumulations are followed by sp breakouts as we saw in April. We now just need another breakout but with a lot more upside which may come with the new valuations / good news etc. The more I type, the more I see an opportunity here. Maybe worth a punt although as I'm greedy I may wait for 51ish if it comes so the downside is reduced with a tight stop. http://imageshack.us/photo/my-images/827/hirco.png/