Very important to follow the sector, of a weekend we do a bit of homework checking sectors to note if there are any reversals or if anything is standing out. Do very little work on individual stocks fundamentals except to know MC, SOI and if they have any money. Couldn't give a dam about anything else really. The chart action and sector tells everyone how the FA is.
Thats why I said what I said on Saturday, need to wait until the SP prints green candles above the bollie median line. But that statement has been twisted around to say that I think the SP is falling further. I couldn’t care less if it falls further the facts still remain the same, no-one should ever look at buying into such a strong downtrend, need to wait for the reversal and that will happen when it happens. Buy in uptrends and sell when that uptrend reverses.
Cheers.
DRE Price at posting:
2.4¢ Sentiment: None Disclosure: Not Held
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