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AverageJoe and jimako...Lately I have given up trying to work...

  1. toph
    4,582 Posts.
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    19/03/10
    17:21
    Post #: 6473988
    AverageJoe and jimako...

    Lately I have given up trying to work out WHY and am trading much more successfully.

    You know,the saying "trade with your eyes,not your mind".

    Anyway,I don't really understand the mechanics of all this,but I spend a LOT of time observing price action and patterns.

    I have noticed this particular pattern on several ASX 200 stocks (eg CDU, KAR) not fully understanding or even caring why.

    In the case of KAR,for example.....

    Mar 2009.....spiked 13cents in closing auction

    June 2009....8 cents

    Sept 2009...32 cents

    Dec 2009...2 cents

    Today...7 cents


    Go through the ASX 200 and you'll find heaps that follow this pattern.



    It's not infallible,but it does work a high percentage of the time and that's all I care about!

    Sorry if I can't answer your questions specifically.


    Cheers!

    EXT Price at posting: $8.35 Sentiment: Hold Disclosure: Held
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