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
