----- Original Message -----
Sent: Friday, May 25, 2001 8:42 PM
Subject: Re: [sharechat] Phaedrus - a
compliment on your FRU chart
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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