Forum Archive Index - January 2002

["andrew cottingham" <arco@adinfinitum.co.nz>]

Gentlemen.
I AM A CHARTIST, and I have been trading shares successfully on the UK, US
and AUS markets since 1985. Quite frankly I cannot understand why
fundamentalists insist on slagging technical analysists.We both use
different systems to hopefully achieve the same result - a profit. Why knock
it - there is always more than one way to skin a cat.
I do not want to get involved in a long debate on who's right and who's
wrong, because no one is....We both have our own way of deciding which
shares to buy. If we are both happy with how we achieve the end result,
thats all that matters. I am happy for others to use the fundamentalist
route, as I have myself in the past,  however personally I have had far more
success with TA.
Incidentally, on my chart, STU is looking increasingly like a buy, and I
have attached a WORD Doc it so that you can see the indicators. As usual -
always place a stop (around $2.35). Nothing in share trading is ever
guaranteed - even fundamentalism.
Andrew Cottingham
PS. STU is hard to chart because of low volume. Charting low volume stocks
is not easy, which is the main reason I rarely trade the NZ market.
Disc - don't own STU.


----- Original Message -----
From: hugh webber <hugh.webber@clear.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, January 03, 2002 8:59 AM
Subject: Re: [sharechat] any bored chartists?


> I think Geoff and Chris have hit the nail on the head and Geoff's
discussion on the fundamental
> factors that influence STU's value (which may go in a different direction
from its price - but not
> in the long term) is particularly good.
> Take NZR which I used to hold a substantial amount of.....they now provide
a two monthly report to
> the market, the last one said that a substantial portion of Marsden Pt
will be shut down over the
> summer affecting profitability.
> Because of their complicated output pricing arrangement they are not
really a New Zealand share.
> The refining margin is set by reference to refining margins in East Asia
which are totally volatile
> and very competitive with an excess of capacity. This also means that
unlike an NZ company you are
> at the mercy of overseas exchange fluctuations as well.
> However apparently the horoscope charts say that NZR is on an uptrend and
therefore a momentum buy.
> It reports about 22 February and the market seems to be speculating it
will again pay a $2 fully
> imputed dividend. I hope they are right for their own sakes, my own
requirements are for more sober
> analysis and reliability.
> The international situation is of recession and falling oil demand. The
historical data for NZR
> shows incredible volatility over the years down to some very low lows.
> Maybe its an alternative to a bungy jump but good luck from here on in,
chaps.
>
>
>
> --------------------------------------------------------------------------
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STU 2.01.02.doc

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