Forum Archive Index - July 2001

["Phil Boeyen" <pboeyen@sharechat.co.nz>]

There is a lot for everyone to learn from this charting thread and there
have been some excellent posts and reasoned arguments.

Let's not let it degenerate into typecasting and personal insults.  These
are not acceptable on this Forum.

Thanks.

Phil Boeyen
ShareChat

----- Original Message -----
From: "Phaedrus" <Phaedrus@techemail.com>
To: <sharechat@sharechat.co.nz>
Sent: Sunday, July 01, 2001 11:25 PM
Subject: [sharechat] Chartists.


> 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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