Hi Mitta, I have thought long and hard about this somewhat funny statement of yours, My decision making regarding entering into AJX is a culmination of over 10 years of trading full time extremely successfully, normally in this market I wouldnt be comfortable holding much at all due to the fragile nature of the markets, but I felt extremely compelled to brush this aside and enter AJX over a month a go in the low 20's.
I usually place great importance on technical analysis but when I did some research fundamentally in Alexium and saw what I saw, I thought to my self this has far more potential than just a meaningless short term trade. However I will not entirely abandon the charts for AJX, as long as the technicals confirm the fundamentals then nothing to worry about. So in this instance based on experience and everything else thats why I place greater significance on fundamentals for ajx....
Infact when I entered and told my close trader friends that I have taken a long term strategic position their ears pricked up and thought wow I must be extremely confident in what I see.
The most important thing with trading and investing is to know when you are wrong and get out then, my idea will be wrong when over the next 6 months or so AJX doesnt deliver on contracts like they have stated they would and the technicals no longer confirm the fundamentals, simple really...
Cheers
Prowiz
AJX Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
