@sirjohnnyboy – johnnyboy I only found this post by accident. I find most of the OGX SFA threads a bit tedious these days due to the repetition of all that SFA (Speculative Fundamental Analysis) stuff I find on these threads along with all the associated assumptions made, so I’ve started to avoid them. Although on the positive side on occasions I do find some of your comments quite amusing. However, I suggest when you make accusations regarding a Posters trading strategy or intent you do the right and honourable thing and tag them correctly so they can respond. I am assuming you know how to tag a Poster on HC?
Now to the point of this post. Your comment re:
“… joining Wilfran and selling out at the slightest whiff of good news and positive SP action ….”
Really are you serious! Where did you get this from? If you have read any of my posts you would already know that I am a technical system trader whose main interest is trading stocks long and short using CFD’s. I have been dabbling in low cap spec stocks like OGX because unfortunately I am attracted to the volatility they provide, and back in the early nineties (you know before all this internet and charting stuff came along) I made quite a bit of money trading this type of stock. I have to say that it has certainly been a valuable learning experience for me.
Now, back to your accusation; there is no substance to it! It is totally incorrect!! The fact is that my current technical trade system will not allow me to enter a trade unless the SP is rising and will not trigger a sell unless a trailing price level is breached, i.e. the SP is falling. I do not use news or announcements to make trade decisions. My recent OGX trade was opened on 27/04 base on a technical setup and trigger that occurred on the previous day 26/04. I have held that trade open since that date through all of the supposedly positive price sensitive announcements. As a side note, the value in the HC SFA threads for me is in finding out if there is a good reason not to take a trade.
I believe that companies need both long term investors and short term traders. Anyway, both exist in the markets, they can’t be avoided. Some would suggest that insider trading also exists even though it is a crime. I suggest all those “Hold and Hope” Long Term Investors out there just get used to it all, it’s not going to go away. I know it’s only natural for people to try and rationalise and come up with reasons for and lay blame for what they don’t like in a stocks SP performance but in doing so you are only wasting your time. You’ll only ever get the actual truth, if at all, a long time after the market, and hence the SP as shown in the charts, has determine the truth.
