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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: - with a K who wrote (1750)	2/21/2005 11:51:49 AM
From: - with a K	Respond to of 13449

Update on EZA: chart shows a second bottom and bounce off the 100dma 10-12 days ago, when the MACD fuel cells turned positive. I should've added at that point but didn't. Now approaching recent top and resistance at $80. I will monitor and see if it can break through. stockcharts.com[h,a]daclyiay[pb100!d10,1!f][vc60][iut!Lc20!Lah12,26,9]&pref=G Fundamental snips from Dale: Ironically, materials are not the real reason to own EZA. The SA stock market has shot up because the local economy is doing so well, inflation is low, a new black middle class is getting a foothold, the rand is strong, etc. I see a lot of misconceptions about South Africa on SI. Typically people believe that gold is the only play here, and the rand must be headed back to the toilet because there is no longer a rightwing government. In fact, the economy is doing very well thanks to responsible macro management and releasing pentup demand from five decades of apartheid. There is a middle class consumer goods boom much like you see in any country with an uptrending economy. The rand has actually been too strong for the miners to do that well in local currency terms. Financials and retailers have taken the lead in the JSE boom. http://www.siliconinvestor.com/readmsg.aspx?msgid=21064545