Perhaps I could have been clearer.
I was responding mainly to your statement that the chartists did not predict the rise to 9.5c.
That's not what they do.
Also, since you seemed to have a generally hostile attitude to chartists, I was pointing out that the really valuable part of charting is capital protection.
The fundamentals can stay constant while the price goes all over the place.
Believing in the fundamentals is not a good reason to sit there and watch as your investment loses 40 or 50% of its value.
There are a lot of people here who bought high and did not get out. They are probably regretting that now, even if they do not admit it.
Chucking a bit of TA into their FA would have saved them some misery.
BTW, I do not trade purely by the chart. I trade on a combination of TA and FA.
BUT, even if I were mainly FA, I would be out of IAM now and looking for a good opportunity to get back in.
