Forum Archive Index - December 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Phaedrus and Bill,

>
>
>I don't know when that Sell advice was given, 
>
>

According to the volume in my bookshelf "Making Money 
on The New Zealand Sharemarket" co-authored by Phil 
Briggs this advice was given "early in 1987".

>
>
>but to my mind
>the earliest irrefutable indication of weakness was when the
>Index broke below the confirmed upward trendline that had held
>for nearly five years. This was on 20/10/87. 
> 
> 

Unfortunately the crash was on October 19th.   

So my conclusion is that T/A would not have saved you, at least in 
any 'predictive' sense.  The other problem is that there was no 
internet trading in 1987, so it is doubtful that you could have even 
spoken to your broker amongst all the phone line mayhem.

Even if you had got through, I personally knew someone who ordered 
their broker to sell and they didn't do it!

SNOOPY





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