Forum Archive Index - September 2002

[" Hans van der Voorn" <vandervoorn@xtra.co.nz>]

I'm not an expert but this chart looks like it has formed a double top at
around 3440 which I thought was generally interpreted as a pretty ugly
signal.

Hans
----- Original Message -----
From: "Phaedrus" <Phaedrus@techemail.com>
To: <Sharechat@sharechat.co.nz>
Sent: Tuesday, September 24, 2002 2:56 PM
Subject: [sharechat] All Ords Index


> T100,
>       I think your interpretation of the All Ords chart was OK (In a
trading range, within a long-term uptrend) I can't really add any further
useful comment. Jefley was right in that where the trendline is drawn
depends a lot on how far back you look. Go back far enough, and there is no
trading range apparent, just a continuing long-term uptrend. To my mind
there is limited value in going back more than, say, ten years.
>
>  With regard to the practicalities of using stops, there are several
alternatives.
> (1) Use a fixed stop placed with your broker, with the attendant risk of
being flicked out by intraday volatility. The most logical place for such
stops is just under a previous support level.
> (2) Some brokers provide trailing stops, either a certain percentage of
the price or an absolute value price fall. Again there is a risk of being
taken out by an intraday low.
> (3) Do not place your stoploss order with the broker. Check the market
before the close, and act accordingly. You could perhaps set up your
stoplosses as email (or other) alerts, thus avoiding the need to check the
market unless an alert is received.
> (4) Check the market after it has closed. Place your orders to sell at the
Open next day any stocks that have triggered sell signals or hit stop loss
levels.
>  If you are going to be unduly upset being taken out too early by
stoplosses, set them further away from the price action, and avoid thinly
traded or very volatile stocks.
>
>            Phaedrus.
>
>
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