Forum Archive Index - September 2003

["Morgy" <morgy40@xtra.co.nz>]

David

 

One thing I love about people is that they never let facts get in the way of their ego.

You had previosuly congratulated Cristine on her "tip" and then her marvelous research after climbing into the stock. What wonderful research had you done on this stock that made it a wonderful buy ?.

 

1. The stock has been listed longer than you say it has (at least in one form or another, I read this afternoon asx notices from 2 years ago from the company.

 

2. What research do you refer to, surely not their PR web site. I can find no creditable analyst that recomends it as a buy ?. Its asset backing is .01c per share with no earnings record to speak of and certainly no PE ratio. It is purely a spec stock, no problems with that, just recognise it.

 

3. Question, If I weighed 400kg and you weighed 100kg and I was holding you under the water who would likely drown ?, a heavier weight pushing down will always win. I was merely pointing this out to Cristine, i.e giving her information that she may not have access to before she went and bought a BMW. Support and resistance levels on penny stocks are quite vital, particularly if a cent change in price represents 10 % price change in fortune.

You may think everyone is a mug but you will find most people that make money at this are not and they know what they can buy or sell a stock for.

 

4. After commenting on your wonderful "research" as opposed to some Tea Leaf reading or trendlines you then go on to exhort some old mates wise words about hope being greater than fact, make up your mind. I was passing on the facts, the ASX order line is not of my imagination for I could certainly imagine some better scenarios than I have faced today.

 

5. At no point did I imply, state as fact or allude to what I think about this stock or of its prospects for the future.

 

6. If you want to work on the "Buy it and they will come" theory rent the video.

 

Happy investing

 

Regards

 

Morgy