Forum Archive Index - July 2001

[Phaedrus <Phaedrus@techemail.com>]

Nick (Helmett),
  You state "These chartists like to have their cake
and eat it. In their own eyes they can never be wrong. First they say charts 
dont predict the future (cant blame them if mistake)Then they have the cheek to 
say they saw the plunge in frucor coming (after the event) claiming their were 
signs in the chart it was about to
happen. I pointed out this contradiction before and was called an idiot."
You are an idiot. I am tired of telling you the same things over and over again.
>From my post of 25 May "That wasn't a small dip in Frucor's share price. The 
>uptrend was over. For the first time in two months there were lower peaks and 
>lower valleys - the usual definition of a downtrend. Whether the stock went 
>up, down or sideways from here on would not alter the fact that there had been 
>an uptrend, and it had ended. The chart was not vindicated by the ensuing 
>price action - how could it be? It predicted nothing. It was not right or 
>wrong. It merely recorded what had been."   There had been an uptrend, and it 
>was over. Get it? The subsequent plunge was NOT predicted. How many times do 
>you have to be told this? 
  I believe you were described well in my post of 24 May:- "Many of you seem to 
have committed the cardinal sin of falling in love with a stock, and are 
committed to its defence no matter what."
  I suggest you go back to your regular job as an unpaid advertising agent for 
V and Frucor.
                             Phaedrus.
                         

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