----- Original Message -----
Sent: Friday, May 25, 2001 9:16 PM
Subject: Re: [sharechat] Phaedrus - a
compliment on your FRU chart
Frucor was
doing well right up until it announced
its downgrade. How could a chart have foretold
this?
especially when the shareprice was rising prior
to announcement.
nick
Phaedrus - you are not
wasting your time as you suggested
The FRU chart was beautifully crafted - so
much so that I put a laminated copy of it (A5 size) on the office wall. It
has become a much desired object already.
It has been much admired - even by some
FRU shareholders.
When I quoted you and said 'trends
don't come much cleaner and simpler than this' the response from some
FRU fans was something along the lines of 'my god - if only I had
known'
When the chart on the wall has been
evaluated (in conjuction with adopting a wait and see attitude) common sense
seems to have prevailed as to whether they should now sell or buy more. If
antyhing it gave them a bit of solace in pretty depressing
times.
During the day a discussion on AIRVA came
up . A printout of a 3 year chart posted on the wall and a red
trend line drawn on by hand ( not as crafted as yours, Phaedrus) clearly
demonstrated why the interested investor should wait and see what happens
before parting with his money. A distinct downward trend since May 1999
which has often been tested but the trend won out in the end - each
time.
Many investors have seen the light of day
today. My view there is a place for technical analysis (even of a
basic nature) in the investing world has not changed - even it only supports
many of the other methods used by investors.
Thanks Phaedrus - keep
contributing
Cheers
Peter
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