Forum Archive Index - February 2003

[Phaedrus <Phaedrus@techemail.com>]

 I would agree that FPH looks attractive at current prices, with a high yield 
and a low P/E. Technically, however, it is a Sell.
 The attached chart shows the buy/sell signals derived from four separate 
indicators :-
            Relative Momentum Index
            Williams' %R
            40 day Exponential Moving Average
            Trendline
 The magenta arrows mark moving average crossover signals, the black arrows 
mark trendline break signals. Note the very high degree of correspondence 
between these four distinct systems.
 Travis claims that Trend-following is impossible, or, failing that, 
unprofitable. He is wrong of course. Buying this stock at the float and holding 
it would equate with a loss. Following the trend by using these simple 
indicators would have resulted in profitable trades, but the real value of TA 
here is how it kept you out of this stock while the price went from $16 to $8, 
halving in six months.

                Phaedrus.
 

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