Forum Archive Index - February 2002

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

John (also for Nick the Kiwi).

John - at some point we all have to make a decision, and you perhaps decided prematurely (because of the downward spike) to sell before you saw the outcome of yesterdays trading. I suggested waiting for a close below $5.12 and then to re-consider. As a TA I would not have sold because yesterdays candle created a tweezer bottom. This generally means lows have been tested and rejected by the market. After seeing that I would have waited another day to re-consider - rightly or wrongly. For the people on Sharechat who are interested in TA I have attached the chart again, and you will see in all cases after a tweezer bottom the market has moved up. (Diamonds mark the spots !). Perhaps today TWR will prove me wrong, however it is important to realise the market is going to gyrate in anyway it wants to, and there's nothing anyone can do to influence this. That is why we have to set boundaries to determine how and when we act, and that's why a defined stop is most essential. 

The red arrow marks the original uptrend line, and a close above that may indicate the share is back on track. The 3 blue lines are a Fibonacci Fan.

Andrew

----- Original Message -----

From: Kuripapango Investments Limited

To: sharechat@sharechat.co.nz

Sent: Tuesday, February 26, 2002 1:28 AM

Subject: [sharechat] RE TWR

Andrew/Phaerdus/Etc

                               Thanks for your advice, FYI, once I saw price below 5.12 I got out at 5.09   I see it has recovered slightly since, however such is life.  ( Iv'e probably broken even in terms of cost, and made "say"  4% in dividends)     I wish I had gotten off so lightly with some of my other "losers" !!    (ie  FFS)

        I found it suprising that all responses were of a TA/Chartist nature.  Me, I'm a definite "fundamentalist"   I personally,  can only see TA being usefull, as a tool to assist in the timing of a fundamentalist decision.!!     So did I post my original query to the wrong site. ?? (ie: are there any fundamental/value long term investors out there ??) 

 

Thanks again for the replies

John

 

PS:  When I was a student, I had a holiday job as a cleaner at Sanford (SAN) in Akld .... so guess  some other shares I have.!!  Most of them were acquired a couple of years ago at 4.30,  they have been 6.30 but seem to be sliding south, I am happy to just hold on to them, but only if their proposed redevelopment of Akld property into "fishmarket/restaurant complex" is still going to proceed.  (Have looked at 2001 annual report, but no info)  Anyone know what is happening here ???

Ta

 

TWR9.gif

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