Hi mitch, Sorry...I didn't see your post until now! Just a bit of humour in my charting posts, and putting a bit of a cheeky slant on the TA, as I've become interested in understanding the serious side of the basics of technical analysis, and charting, since late last year. It's good to have at least a basic understanding of the charts, and technical indicators, so that the charts can be understood when posted. I think that they are useful for traders and investors, as one of the tools that may be able to help pinpoint the price points where you may be able to enter and exit the market. It's not always possible to pick every bottom, and mostly, you just get in at the best possible prices that you can. As I indicated in my post this morning, I use TA as part of an overall approach, and am open to learning as much as I can about it. I never base my own investing decisions solely on what anyone else has to say, however, I do like to read the opinions and interpretations of people more experienced than myself in the TA area. I'm very comfortable with my own investing decisions, and doing my own research, as I've been investing in good companies for years, and trading out of long term positions, if I no longer believe in the fundamentals, or the future prospects for a particular company. Galaxy, NMT, my dairy, and a few others, are companies that I am happy to accumulate in and hold longer term. I have also experienced several of those buy the rumour, sell the news type events over the last 3 years, when I haven't been expecting them, that have been very profitable. I like to take my investments one step at a time, and not expect too much too soon, as it's good to have a certain level of faith, and some of the best things/ outcomes are worth waiting for.
GXY Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
