back to 56 cents , page-10

I think Htsydney is on the money.

Mistrust of management is the primary mover of the lower SP with no sustained rally on the horizon until hard cash earnings are finally demonstrated.

All the on board FA biased buyers have been badly burnt so far, whatever their average entry has been, with little to no available cash to further average down. The retail SPP will struggle because of that and the institutions will pick up the scraps to sell back into a real rally later on.

Everybody else is just waiting to see how low it can go, irrespective of FA or TA bias. As far as I can see all the TA people on the board here have been in and out at different levels all the way down as well, they haven't been able to pick the real bottom any better than the FA, the only difference to the FA people is that they have executed capital preservation strategies to exit at acceptable gain/loss points.

At the moment there are simply no new buyers willing to come on board until real earnings are demonstrated. That just leaves the TA day traders to move the SP around according to whatever their chicken entrails read on the day.

I now think I finally know what the lesson to be learnt here is. It is that there is no pattern to rely on. Having been previously successful on one or more TA or FA based investments means nothing for your next investment decision because it is an unrelated independent event. Whatever the FA or TA say, the unknown unknowns will be more influential on the SP. Unless you are prepared to spend 24/7 following the TA, or 5 to 10 years waiting for the FA to pay off, you might just as well just spread your investments over a variety of managers to diversify your risk, and spend the majority of your time enjoying surfing or whatever.

""Life is what happens to you while you're busy making other plans.""