Forum Archive Index - July 2001

[jerrold poh <pohj@ihug.co.nz>]

hey nick,

i don't think when Phaedrus posted that chart of frucor awhile ago, that
he was implying that that huge drop could've been predicted.  i think he
was just saying that he doesn't like to hold stocks which are trending
down, and that he would've sold at the down trend.  

if i were in his shoes and i sold at the down trend, and suddenly the
price of the share when up instead of down, i wouldn't be dissapointed.
it would've been the right thing to do at the time technically (just
like how sometimes it's the right thing to do fundamentally).  and
besides, just because you're out doesn't mean you're out, there's
nothing stoping you buying the share again as it begins its new uptrend
(and yes i know, eroding profits, capital gains, bla blah).



jerrold.


On Sun, Jul 01, 2001 at 09:48:13PM +1200, nick wrote:
> 
>               Some sense at last.  These chartists like to have their cake
> and
> eat it.  In their own eyes they can never be wrong.
>   First they say charts dont predict the future (cant blame them if mistake)
> Then they have the cheek to say they saw the plunge in frucor coming
>  (after the event) claiming their were signs in the chart it was about to
> happen.
>          I pointed out this contradiction before and was called an idiot.
>   nick
 


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