Forum Archive Index - May 2002

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

Phaedrus, - may I add to that some candle comments.
The candle of 8th and 9th May formed an Harami Cross - very bullish.
The candle of the 9th  formed with the other 2 -  a Morning Doji Star
formation,
and for more confirmation the  3rd candle  formed a Bullish Engulfing
Pattern against the Doji.
3 candles - 3 patterns all with the same bullish theme.
All this was also supported by Fib point 50%
Andrew


----- Original Message -----
From: Phaedrus <Phaedrus@techemail.com>
To: <Sharechat@sharechat.co.nz>
Sent: Wednesday, May 15, 2002 1:25 PM
Subject: [sharechat] FBU Chart


> Close examination of the attached chart shows the following
characteristics :-
> (1) Broadly speaking, the RSI gives very good signals with this stock.
> (2) There are often multiple signals.
> (3) If there are multiple signals, the later ones tend to be better.
>
> Conclusions :-
> (1) The RSI signals are worth acting on.
> (2) Since you don't know if there will be multiple signals, you must act
on the first.
> (3) Should the first signal "fail", any subsequent signals should be acted
on.
>
> My actual transactions here are :-
> Bought 5/4/02 at 281. Sold 8/5/02 at 269. A loss of 12 cents.
> Bought 9/5/02 at 270. Current price 292. Current gain 22 cents.
> Financially, my situation is almost exactly the same as it would have been
had my stoploss not taken me out. The big difference is this. Had FBU
continued falling, it would not have taken me with it.
>
> The "failure" of my trade of 5/4/02 could have taught me :-
> (1) I should not have bought on the RSI signal
> (2) I used the "wrong" support level (274 instead of 269)
> (3) My stoploss was too tight or,
> (4) I should not have used a stoploss.
> None of these are supportable, and would not be good lessons to learn. You
must be true to your system - win or lose.
>
>                  Phaedrus.
>
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