Forum Archive Index - September 2001

[Jefley Aitken <jefley@xtra.co.nz>]

eeeks!
 when i posted a comment about the SGI some days ago, i was mainly trying 
to point out that the combined wisdom was excellent for six months, and 
wondered if other people expected/suspected that our view was only going to 
hold in the short term.
... and, given that we did an excellent job of looking six months out, i 
wondered if we could call another six months.
i certainly didnt imply criticism and was horrified to read grumpy posts 
knocking the idea and some of the people who responded.

the point that phaedrus made re lack of cash for opportunities: "no selling 
strategy in plcae; no mechanism to take profits or limit losses" may well 
be the most valuable thing i've ever learned from this forum.
virtually all my losses (considerable) have accrued because of exactly 
this: no selling strategy!
i have decided over the last few months that choosing a good company on 
fundamentals is only one-third of the plan for success.  the next thing 
after having chosen the company is deciding when to buy, and this may be 
weeks or months after the choice is made.  the timing is best done by 
consulting charts, and thank you phaedrus for your user-friendly pointers. 
the bit i have to get my head around next is how to learn chart indicators 
for selling (in the absence of obvious news).  phaedrus, if you have some 
charts (historical or current) that have the profile of the Dow chart that 
you posted, i would be most interested.
would similarly like to read of non-chart sell strategies -- such as so 
many percent down from a peak, so many percent up within a certain period, 
or whatever.
still learning, not panicking, cheers, jefley.


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