1. Most Discussed
  2. Gainers & Losers

Butterfly bear

  1. redabyss

    1,383 Posts.

    I decided to try a few calls, though it is out of character, on BHP and some oils. Former is up 50% - if this keeps up I will have to call it Bulls Progress. However, keeping bear things in mind, I re-shorted MIM today. Banks are toppy too - but how many times have I said that?

    I have been puzzling for awhile on exactly what the XAO is doing. There are two scenarios - the first is short term bullish with the rise continuing until the last week of Sep, up to 3300 - but that would play havoc with normal timetables.

    The second is more in keeping with the prognosis I have had for a couple of years now, and is a pattern called the "bullish butterfly reversal". It is a pattern that requires some very precise ratios that have sort-of been met. It would involve the market continuing down from here to either 2500 or 2670, for an end to the bear market. Downturn to commence within a couple of days. I will stick with this one till proven wrong.

    http://www.longorshort.com/butterfly.htm
    http://www.working-money.com/Documentation/FEEDbk_docs/Archive/042001/Abstracts_new/Teseo/Teseo.html




DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.