Forum Archive Index - October 2002

[Phaedrus <Phaedrus@techemail.com>]

 An interesting situation has existed for some time now with regard to CLI 
(Challenger International) on the ASX. This stock is heavily touted on the 
basis of its good (and ever improving) fundamentals. In spite of this, it has 
been in an accelerating downtrend for 2 years now, and is currently making new 
lows.
 It is tempting to speculate on possible reasons for the slide, but this is 
probably a futile exercise - we may never know what they are. My point here of 
course is that you do not need to know the reasons, it is enough to see the 
inexorable downtrend, and on that basis, delay any investment - regardless of 
the fundamentals. 
 The best stocks to invest in have good fundamentals AND good technicals. 
Should there be any conflict between these two approaches, my money is on the 
chart. Every time.

                     Phaedrus. 
 

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