Hi j6, good post HS,
Happy New Year mate, I just sent you an email.
I've done my buying now, except for OD's which I still think is a good speculation.
Karlos...penergetic is right - it's just one person, not multiple you're speaking to over there. Small voice and small megaphone if you leave the shrill voices in Siberia where they belong.
Best solution. Ignore them. They hate it. If victor isn't HC orphan/vintage, he'd be over here in flash. You know it and he knows it.
In regards to your tea leaf readings/charting. To be honest, I didn't believe in it at all years ago. But having watched mudguts and others make the same instinctive 'out call' on PEN you made before FUKU and trading in and out on pips all derived from trading patterns, I now do wholeheartedly. (Although I can't say I am conversant in all finer points) I've also met various traders that follow charting religiously. It gives me caniptions that they often pay no attention to fundamentals at all - but if they make $ I can't discount this.
Rather than me saying that people are simply foolish NOT to believe it, I'd put it another way and suggest that I'd back to make more $$ any day, the fundamental investor WITH charting/vsa experience than without it. Ignoring its merits is to ignore what you don't even know what you are ignoring.
This says more about the ignorant wouldn't you say?
The explanation that I ascribe to is thst charting/vsa is really just mimicking or masking (distribution) en masse human/herd behaviour, to which I'm very cognisant of and interact with daily. Only a fool (once shown) would not see this. Or a naive, who thinks it's all a random walk.
It made sense and made me money. I should reiterate - it hasn't made me $$ from telling when to get in, but absolutely when not to, such is my (lack of) experience.
My recent participation in the raise though was vindication however for all the $$ saved not playing ball previously. Happy days.
Importantly - one thing I am more aligned to is the rationale behind VSA. And on that, I'm certain that VOLUME matters. Not just liquidity as an investor, but for seeing the momentum behind a push to see price go up or down.
This formed a lot of my recent summary on watching AEE. A good AIM listing to be sure, but without new participants piling in behind old ones, was always going up fizzle. I thought it was obvious by 2.8c...and it still went to 3.8c (on low volume) giving enough evidence that it wasn't volume buying...just a few hopefuls thinking this was pay day, sadly disappointed.
Many times I thought PEN showed potential only to see no volume. False rallies to be sure. Current volume makes me think this could be different, although I'd like to see volume escalating from here, no descending. Just IMO.
I'm certain charting is a valid method of trading but I think your dancing with the devil to even get into a conversation with the idiot savant who won't even acknowledge it after the event - but put it down to a fluke. Pffft.
I learned the hard way with the twat. T'was only hard by hours and hair lost but I don't make the same mistake twice. It will do nothing for your $$ and it gives the INDIVIDUAL (yes, only 1) the megaphone he lost.
Cheers out to you HS too - enjoying Oz again soon?
Cheers
Gav
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