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Re: [sharechat] Frucor


From: "SWLEE" <SWLEE@xtra.co.nz>
Date: Sat, 30 Jun 2001 09:34:28 +1200


Phaudrus,
I find your reasoning is convincing.
 
There is a saying in the share investing/trading: "Picking the tops and bottoms are for the amateurs"
 
----- Original Message -----
From: Phaedrus
Sent: Tuesday, May 29, 2001 11:07 PM
Subject: [sharechat] Frucor

Philip,
Spare the sarcasm, pay more attention, and you just might learn something. In my post of 24/5 I wrote "I have added a new trendline to the chart of yesterday. If you insist on buying, at least wait until the current downtrend is over, and prices climb above this line."
I bought at the Close on the 25th. ($1.57) Why?
(1) The trendline (already charted for you) was broken.
(2) The bottom 3 candles had formed a classical Pivot Point Reversal Pattern.
(3) The Stochastic Oscillator gave a Buy signal.
(4) The Chande Momentum Oscillator gave a Buy signal.
(5) The Williams%R Oscillator gave a Buy signal.
(6) The Close was above the High of the Pivot point.
Definitive? - you bet. But not predicable. Not even predictable.

Phaedrus.



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