I find this rather Ironic, I just said that maybe we should move out of the PNV chart thread and post on the banter thread, when the last post here is actually a chart LOL.
I was going to reply to
Chrish_12at About some stuff he posted, I understand why some people would rather just look at charts and decide to try and short something on an understanding that what goes up must come down, they do this without haveing one clue as to what the company does, good luck to them and their penny pinching stuff, they do help bring the price down sometimes to where I would think of buying again, based purely on FA and what the company does and it's growth prospects!
I was only talking to my son about five minutes ago, I said to him that his shares and our DIY SMF are making some really good money on what seems a daily basis now, when the rest of the market seems to be going south, we are both of the opinion that a buy and hold strategy would be the best way to look at this, simply because of what these companies have and what other areas where they will make money in a year or two, we aren't talking small amounts either.
My thinking with my SMSF was to get say two, maybe three decent shares, one was to be the backstop, the anchor I call it, that is the one that pays the bill each year, for the accountant and auditor and perhaps some cap gains and stuff like that? although I do try to buy and hold, I was always of the opinion that if you did your research and bought some spec shares with prospects (perhaps 8 or so) it would only take for around two shares to make some decent gains and the rest would be history, i.e water the flowers and let the weeds die, none of that came by looking at charts, although I will say sometimes they gave me some comfort in what I was doing, mainly because it was a pictorial diagram about where I had been and where I was going, I have been fortunate enough to get one spec share that has gone gang-buster with another two about to I believe? one of them has already started, not because of any chart, but more about what other investors are doing, take for instance SLX, they have been stagnant for a long time there is news due soon on where they are going, then yesterday someone comes along and puts a bid in for 1 million shares, that is a cool $335,000, no one would do something like that unless there was some movement at the station, and again today another buyer comes in for another 1 million at 38c, this sort of thing is not done on a whim, they know something I don't, the trick is to already be in there first.
The chart will then tell you what has happened!
If that gives you a heads up then fine, but others have seen it before you did and are already invested.
(20min delay)