JustBob, I care little for your EWT, but that does not mean I do not respect your analysis as an astute investor. However, the example of Poseidon to illustrate your point is poorly chosen. Those that sold the stock at $285, would have surely bought back into the stock after it had fallen to a low of say $10, on the sell high, buy low strategy. There's nothing wrong with that. Even so, those investors buying at a low of $10 would have still lost the bulk (if not all) of their investment, as the company went into receivership. The point to be made here is instead of trying to pick the highs and the lows, is to invest in company with strong leadership and vision. Rightly or wrongly, CBA is seen to be one of those companies. The price at which you buy into the stock makes very little difference within the context of a long-term investment.
CBA Price at posting:
$144.47 Sentiment: Buy Disclosure: Held
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