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Forum Archive Index - September 2002

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Re: [sharechat] STUDY STOCK - LHG


From: "andrew cottingham" <arco@adinfinitum.co.nz>
Date: Fri, 20 Sep 2002 15:06:24 +1200


Good Afternoon Nick
 
LHG is one of my favourite stocks (having traded it since 88c, and mentioned it on this forum in the past). I bought in again recently at $1.19 after a confirmed bounce off the support/resistance line from 1998. (Posted on ST forum....I bought some more yesterday at 1.19).....possible resistance early 1.30's - and that would be an initial place to look for a possible reversal signal.). Current price $1.34 - Fib resistance $1.36, and general resistance $1.36/1.38.
 
Interesting article for gold buffs.............

"How the Central Banks have engineered the coming Bull Market in Gold – Gold’s future role in the Monetary System"

By: Julian D. W. Phillips, Gold-Authentic Money

http://www.goldseek.com/cgi-bin/news/AuthenticMoney/1032193635.php

Andrew

----- Original Message -----
From: Nick McCaw
Sent: Saturday, September 21, 2002 7:29 PM
Subject: [sharechat] STUDY STOCK - LHG

An Update for all those who are interested. Bought LHG at $1.27 on 6-9-02 after discussing it on the forum. As mentioned, it was decided to sell if it fell back below the $1.25 support resistance level.

It got very close for a couple of days, and in response to a recent query, I did not have an active stop in the market, In this case I prefer to wait for a close below the sell level, then sell at market the next day. Stop loss strategies are explained well in GO Learn Shares, If you haven’t downloaded the free demo courses, you really should. www.golearnshares.com.

LHG has bounced around but is behaving pretty well as planned. The trend is continuing and a break above $1.37 would be a convincing reason to go out for dinner.

In the mean time, the plan will stay the same. I will probably lift the stop level to $1.29 if the current trend continues. It helps that Gold is strong but whatever the reason, the ticker never lies.

Is there a good fundamental reason to reconsider my strategy.

 

Have a super weekend

Nick McCaw

 

References

 
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