Hi Folks -
Much discussion ATM especially on chart related threads relates to the drop of the Sp from a high of 13c to current levels.....if one accepts this at face value ...... Not so great.
But as astute investors we might need to dig deeper - so how long did the Sp hold 13c? Yep, you're right, too long on the can reading the sport pages and you missed it!!!
The Sp indeed Spiked to 13 c very briefly but has spent the best part of 6 or so months bashing it's head against the 10c wall....... Or on a good day 10.5c
So in reality the true real life high is around 10c and now on lack of curtain raising announcements we drift south....have you sold out? Why or why not? A 20% drop that real traders wouldn't live thru.....long gone - it leaves the rest of us....
But a 10 to 8 c drop on the chart is not as alarming as pictured on the 13c - 8 drop.....please put your hand up if you sold at 13......I thought so.....well done!
There have been many inciteful posts re value, positioning, chart history etc but the only true thing I have ever learnt out of this madhouse of a market is to understand your own relationship to your investment - probably easier for those with less risk exposed.....
Abdm - the link you provided is a compulsory read:- thanks
http://www.followingthetrend.com/2014/05/why-technical-analysis-is-shunned-by-professionals
Without a doubt Obj will turnaround in the near future....probably the discussion should centre around if each positive ann will continue to be sold into and hamper Sp development or if shackle breaking news will allow final lift-off - interesting viewing without a doubt.
The big picture is out there for all to see - isn't it??
Eagerly awaiting a new Dave tale....
Cheers Ort
(20min delay)