mirthful monday, page-63

winkinatcha
i do look at the charts but don't slavishly follow- good luck to those who do and it is better to have a system than none.

If you refer my posts in early april in the asx general forum and re bhp you will note i have been bullish since then, yet i was a bit early in Feb when i first called we were close to a bottom.

however, it is interesting to me that my best buying back in Feb and March was done by ignoring the charts. the charts of the indeces still looked sick as did the charts of cpb, nod,aax, srl,mof,nms cba, wes, nwh to name some great successes which i intend holding. I have had a few which have only modest gains too such as org, sto, qbe.

perhaps more telling for me is i sold probably half of my pes in November partly because the chart looked so poor, but then i did buy some back because of the ongoing strength.

I bought prr sub 2c partly due to a good looking chart and sold some at 9c and 11 c on that extraordinary day when the chart looked so steep( i told you i wasn't a great chartist ).

AIO was another which i traded .55 to 1.6 which was in downtrend when i bought at 55 - yes chart did eventually show a double bottom or close enough to holding support and then i bought more-yet when i sold many chartists would call strong i believe.

All I am saying is its all swings and roundabouts - i know people who use a system where you can make good money by being wrong more than half the time.Its all in the way you allocate your stakes.

JUST RE READ YOUR POST and enjoyed your last line - maybe i shouldn't have been so defensive but please don't treat me as a mug punter.