People seem to be so inflexible in their thinking.
Yes, I said I expected it to go below 9c (8.5c). It did!
That doesn't mean I think it will never bounce.
Charting doesn't involve sitting down today and predicting the next year and then making no further assessments or adjustments. If the unexpected happens, you should react to it (and if you can't you shouldn't trade and if that's you what on Earth are you doing in the chart thread?).
There's nothing contradictory about saying you expect it to go to 5c and then next week when it has only gone down to 7c react to a development/change and say that it's now looking like going the other way. That doesn't make you wrong or a bad trader or technical analyst, it makes you a good one. The whole reason I bother to post updates is to show that something has changed and we should update our outlook.
For example with TNT, I was expecting it to go to $1, but things changed and I saw it was going to go down so I sold. I was still in profit and sold out before the majority of the fall because I saw it early, so the analysis worked. You can say I was wrong because it didn't go as far as I was initially expecting, but I still sold out on a multibagger. Wrong would have been to stubbornly refuse to update my outlook despite the new data.
People love to say I was wrong because they ignore the updates and just don't understand how technical analysis works. If you want to simply look at when I've said I've bought or sold (and I've always done it promptly, never retrospectively) you can see I've been on the money. Copying exactly what I've said I've done would have given anyone a fantastic return on their money. I'm not at all suggesting anyone should have done that or should do it in the future, but it just shows that it doesn't make sense to say I was wrong and if you think I'm just hedging my bets you're missing the picture. If you're going to trade (and again, if this doesn't interest you, don't look at or post in the chart thread!) you always need to prepared to change your position to take advantage of the situation or minimise losses.
Honestly, I think I'm wasting my time here and I obviously annoy a lot of people. People would much prefer to just sit in an echo chamber of permabulls. I think I'll just leave you to it for 2023 rather than waste my time and upset people. Having said that, 2023 may well be a good year for TNT and I may end up taking a position. Even if I become very bullish I'm sure plenty of people will just complain about the times I've been bearish, ignoring the fact that the price absolutely plunged during that time and gave me a multibagger while I held and I traded it successfully along the way, and of course I've been told off for posting the timings of my entries and exits too! Go figure.
Have a great 2023, everyone. I'll likely keep my analysis to myself for the year. Most of you will no doubt be glad about that.
TNT Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
