Forum Archive Index - December 2002

["Peter Riches" <peter@kairos.ws>]

According to Phaedrus's chart the market lost over 1000 points in the
following 2 months. So selling out on the 20th would actually have "saved
you" a bundle of cash - and knowing that it was unwise to buy back in again
would have saved even more.

----- Original Message -----

> 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
>
>
>
>
>
> ---------------------------------
> Message sent by Snoopy
> e-mail  tennyson@caverock.net.nz
> on Pegasus Mail version 2.55
> ----------------------------------
> "Dogs have big tongues, so you can bet they don't
> bite them by accident"
>
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