TPM 0.00% $8.93 tpg telecom limited

chart, page-11

  1. 17,258 Posts.
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    you could be right Kathy100 but there are plenty of people who do care what the charts are saying. I am one of them and I called this rally for today yesterday based ONLY on the beautiful fibonacci pattern on the chart. If I saw it then you can be sure that 10,000 others saw it as well and once a counter rally gets going it takes on a life of its own and it doesn't matter what the chart says as people will pile in because it is going up. But just like the one day wonder on VOC last week today's rally could fizzle tomorrow. However eventually the downtrend has to end. This is a good stock and at some point fundamentals will kick in and common sense will prevail but experience tells me that the market can stay irrational longer than I can stay liquid. I wouldn't mind betting though that this is the bottom but that TPM will swizzle and swazzle along the bottom here for some weeks. Today may or may not be the start of a decent counter rally but I will bet that even if it is TPM will revisit these levels again sometime in the next 4 to 6 weeks before really taking off. That's just the way long term down trends usually end whether we like it or not.
 
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