Forum Archive Index - November 2001

["bogusoff Bogusname" <investor99@email.com>]

Phaedrus,

Thanks for this very honest and soul-searching expose from you.  It's a pity 
that most of your post was truncated part-way through the word "during".

It wasn't until I read Second LIFE's post that I saw the rest of what you had 
written.

Like you, I regularly read Mary Holm's column and while I agree with a lot of 
what she says, every now and then she lets her personal crusades and vendettas 
cloud her judegment.  

An example which comes to mind is the recent discourse on family trusts.  Like 
many people (including most MPs) I have made use of this device for various 
reasons, chief among them being asset protection and avoidance of the 39c/$ tax 
rate.  Mary Holm intensely dislikes people using family trusts and goes out of 
her way to say so at every opportunity.

I thank you also for your refreshing honesty concerning NPX:
"Nuplex has closed below its trendline, thus closing out a trade I had posted a 
buy signal on. This was a losing trade."

Just when we were all thinking you could do no wrong, here is an example which 
proves otherwise.  To be fair however, I do remember you stating "40% of the 
time I get it wrong", so I guess those odds caught up with you again.  As you 
have said, the last 2 months have been a dream run on the NZSE, and on most 
bourses around the world.

Doomsayers such as DF Mainland have been saying it can't last.  I quote from 
Saturday's Herald:  "most stocks are at the top of their trading ranges and a 
retracement is overdue".

I for one have been mentally prepared for a retracement for the last month now, 
but it hasn't come.  Maybe when it does, it will be just a minor blip on an 
upwards path.

The question on many people's lips is:
"Should we look to sell out soon and buy in again later?".  Many have sold out 
already and helplessly watched the rally continue.  I guess it depends on your 
trading style and your timeframe.

Any comments and responses to this question would be appreciated.
-- 

_______________________________________________
1 cent a minute calls anywhere in the U.S.!

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