Forum Archive Index - May 2002

[Phyllis Bergquist <phyl@clear.net.nz>]

Andrew Thank you very much.    I have always been interested and am now
taking a serious look.    I heard Tony Plummer and Neil Costa comparing Gann
and Fib levels with some humour.   This alerted me to the confirming
importance of them.    My learning comes from John Murphy's first book which
also gave me a respect for a 144 ema.    I'm shifting at present and ought
to be packing but nothing can dim my interest in the market.   I wd
appreciate any more info v much
Cheers  Phyllis.
----- Original Message -----
From: "andrew cottingham" <arco@adinfinitum.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, May 15, 2002 5:09 PM
Subject: [sharechat] Fib levels


> Hello Phyllis
> I always use a closing price for all trendlines and Fib.
> Fib points do not necessarily have to be spot on, and can be within a
cents
> or so either way. On the FBU chart, the Fib 50% sits at $2.69. In this
case
> the close on 8th May was totally accurate. After that the share price had
> 'bounced' and was moving back away from the Fib line. Hope thats clear, if
> not feel free to ask again.
> Andrew
>
> ----- Original Message -----
> From: Phyllis Bergquist <phyl@clear.net.nz>
> To: <sharechat@sharechat.co.nz>
> Sent: Wednesday, May 15, 2002 4:33 PM
> Subject: Re: [sharechat] FBU Chart
>
>
> > Hello Andrew,
> > May I ask whether you use Closing prices or Highs and Lows for yr Fib
> > levels.    TVM   Phyllis.
> > ----- Original Message -----
> > From: "andrew cottingham" <arco@adinfinitum.co.nz>
> > To: <sharechat@sharechat.co.nz>
> > Sent: Wednesday, May 15, 2002 1:57 PM
> > Subject: Re: [sharechat] FBU Chart
> >
> >
> > > 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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> > >
> >
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