Hmmm .... a good thread with many worthy comments.
I too remember the LUM debacle on HC and stayed out of the issue until compelled to add my own in my subtle way with the thread on 15/02/04 on technical analysis ... http://www.hotcopper.com.au/post_thread.asp?fid=4&tid=87458#87879
This contained the chart which if followed would have used the MOVING AVERAGE to cut losses.
It is always better to be a spectator rather than a speculator when a stock tanks ... the best lost to have is the one you don't have in the first place ... hence tight stops.
The main complaint from posters was holders became idolised with the stock and saturated HC with endless ramping which increased as the stock tanked ... never give your heart or become sentimental regarding a stock.
The chart looked like this on 15/02/04.
Cheers ... tight stops.
This is only my view ... read the red stuff.
help i lost 70% in three months, page-25
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