I will get slated by most but here is part of my philosophy. The players who really move stock prices are the institutions, lets face it. The amount we hold and trade do not compare in the big picture. TA aims to establish this buying behaviour. The research reports that are put out are analysts who tend in many cases to merely follow company guidance which is the companies legal reporting to the market.
In many cases which I can provide evidence of, this guidance is wrong and is followed by the institutions. An extreme example was SGW buy at 3.80, hold at 2.75, hold at 1.40 (valuation 2.75) suspended next day.
There are also great variations between institutions valuations of various stocks.
Where am i heading.... All i am saying is that I am reading a lot of questions of people asking why are people selling.......... My time frame is medium as long as the trend continues. 2.23 was a fair support that was broken so why sit and hold asking why? unless you are on a long term view.
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i remain demused as to what's going on, page-16
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