Forum Archive Index - January 2002

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

thank you for the encouragement dave, and comments all.

dave, i've looked at the ax charts of gns, clo, abg and elx as you 
suggested.
they are all confusing to me, and i know absolutely nothing about any of 
them, but here goes...
gns:  not a buy, and if i was a holder, i would be very watchful with 
selling a consideration.
clo: not a buy at the moment, but i would be a relatively relaxed, though 
watchful, holder.
abg:  only a possible buy, but a comfortable hold.
elx: not a buy, and a nervous hold.

bollinger bands seem to have a random relationship to the movements of some 
stocks.  it is absolutely necessary to check whether they have been 
usefully relevant to the trends of any particular stock (i have a neutral 
and a useless category when i'm assessing indicators, and bollinger bands 
get more 'useless' ratings than other indicators...).

my strong view is that charting is useful for timing, not selection. 
 consequently there is nothing that i can see in the gns, clo, abg and elx 
charts that would make me want to buy now.  however, their fundamentals and 
known plans for the next year could make them all raving buys for all i 
know!
let's know why these interest you dave, and how you view the charts.
regards, jefley


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