Forum Archive Index - September 2002

["Nick McCaw" <nick.mccaw@golearn.co.nz>]

An Update for all those who are interested. Bought LHG at $1.27 on 6-9-02 after discussing it on the forum. As mentioned, it was decided to sell if it fell back below the $1.25 support resistance level.

It got very close for a couple of days, and in response to a recent query, I did not have an active stop in the market, In this case I prefer to wait for a close below the sell level, then sell at market the next day. Stop loss strategies are explained well in GO Learn Shares, If you haven’t downloaded the free demo courses, you really should. www.golearnshares.com.

LHG has bounced around but is behaving pretty well as planned. The trend is continuing and a break above $1.37 would be a convincing reason to go out for dinner.

In the mean time, the plan will stay the same. I will probably lift the stop level to $1.29 if the current trend continues. It helps that Gold is strong but whatever the reason, the ticker never lies.

Is there a good fundamental reason to reconsider my strategy.

 

Have a super weekend

Nick McCaw