Forum Archive Index - September 2001

["nick" <helmett@xtra.co.nz>]

       Your a hero , why the constant need to keep letting us know?
Considering you yourself say charts cant predict the future, its strange
that they saw "the writing on the wall"
       Strange you are always letting us know after the event

      Nick



>   The current situation highlights some of the problems inherent in
blindly following a "Buy and Hold" approach. Many people are forced to sit
on the sidelines at a time when good buying opportunities are presenting
themselves, because they have no money. Why? Because they have no selling
strategy in place. No mechanism whereby they take profits, or limit losses.
The worst aspect of this is not the capital erosion incurred by doggedly
holding stocks through major retracements (though these can be substantial.)
The worst aspect is the loss of opportunity and the frustration of not being
able to buy sound stocks with good fundamentals at bargain prices, through
lack of cash.
>   Some of you may chose to attribute recent losses to the effects of the
WTC tragedy. The writing was on the wall well before then, as can easily be
seen on individual charts, as well as collectively - shown on the Dow chart
below. I learnt many years ago to pay close attention to USA market
movements - not just because I trade there, but because it is such a major
influence on other markets. I regulate my degree of market exposure by means
of simple technical analysis of appropriate indices. The chart shows what I
did, when and why.
>                       Phaedrus.
>
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