This just is not correct.
I sold out long ago for fundamental reasons, nothing at all to do with TA/charts. Zero. I openly discussed it at the time, I explained my reasons, they had nothing to do with charts, and the price has collapsed to a small fraction of what it was since then.
Actually, when I first bought TNT it was entirely because of the fundamentals and I did it in spite of the chart not looking like it was a good time, and the price did indeed drop as the TA predicted, it then became a good entry point according to the chart, the fundamentals were the same, so I bought more.
After I sold out, the fundamentals unfolded even worse than I expected, so I, of course, stayed out.
You can insist all you want that I only look at charts, but the fundamentals concern me far more. The fundamentals guide the big picture, the charts change the finer details of that big picture - the little ups and downs in the short term, whether it goes up 5 pips in a week or over 2-3 weeks, etc.
To illustrate the point, this being the chart thread (it's in the title, this isn't the thread for you to complain about the use of charts, because it's literally the area where you're supposed to talk about charts), let's look at the TNT chart over the last two years, from the 23rd of November 2020 to the 23rd of November 2022 (today)
View attachment 4869127Now, sure, some of the zigs and zags may be different along the way, but two years ago today TNT opened at 42c and today closed at 9.5c. This is long term, this is a massive difference. This was not in any big way caused by charts. The charts at most cause little blips on this sort of scale. They don't cause huge multiples of the price like this.
At some point you need to accept that this picture is big enough and long term enough and extreme enough that you just can't legitimately blame it on charts. We are way, far, completely and utterly beyond that point at this stage.
If you don't care about fundamentals clearly indicating that the price is going to drop, that's fine. If you want to hang on in the hope that long into the future after the price has dropped it might recover, that's fine, your money your choice. But you can't legitimately hide behind something like this drop being caused by the chart alone.
The fundamentals are what is pushing the price down. Remember earlier this year when I bought back in? I openly said that was because I was expecting good fundamentals (in no small part according to company guidance). Remember when I said I'd sold? It was right after the 4C was released, when I said the figures stank. Everyone said I was wrong. Shortly after, the price went back into decline and over the next six months collapsed to a fraction of what it was even six months early (not to mention anything of how much it had already fallen over more than a year previously). Nothing at all to do with charts, that was all fundamentals. The charts definitely had a role in determining how far it fell in the short term after that nasty report, but it was the fundamentals which dictated the direction it was going to go, and I didn't much care whether holding would mean I lost half my money or most of my money, I sold as quickly as I could before I even bothered thinking about looking at the chart to see where it was likely to go to. Once I'd dropped the hot potato, locked in my profit and avoided the loss, then (I think it was actually a few days later) I looked at the chart, did some analysis, and might have posted something about it.
Even if what you were saying about long term investing and me only looking at charts was 100% valid, it still wouldn't make sense to protest about me discussing the chart in the thread which is literally called "TNT Chart". But, keep in mind, the overwhelming majority of what I have based my TNT investments on has been the fundamentals, and the majority of what I have posted about TNT, both while bullish and bearish, has been the fundamentals.
If I was currently looking for an entry (I'm not) I would be looking at the chart, probably considering/hoping for 7.5c, maybe a little more optimistic and looking at 7c. As it is, I am not currently interested in an entry, I wouldn't be considering an entry until there's either some very surprising news to change my mind, or until the reported figures improve. You for some reason seem so sure that the fundamentals are great despite the reported figures, and that all the problems will sort themselves out, and the market doesn't know what it's doing and that I only look at the chart and the only reason the price is declining is because of the chart, but this company does have some significant problems and it's by no means a sure thing that they'll get them sorted out. I sincerely hope TNT turns itself around and can become the success I was hoping for when I've been a holder, but the reality just doesn't show any reason to have the certainty you are clinging to. It might turn around, we might eventually even see it get back to around 40c (though I don't think it's realistic we'll ever see it hit the $1+ I once hoped for), but it's also possible that this is on a long, steady decline to a fraction of what it is now. With a low market cap for the size of the company and potential dilution coming, shareholders are in a vulnerable position. In a scenario where economic conditions worsen for any reason and TNT spends an extended time losing money, which is entirely possible, TNT could end up in a debt/dilution spiral. Success for TNT is possible, but by absolutely no means inevitable, and I'm not at all thinking about the chart here.
Whether we are looking at 2c or 20c in 2 more years depends on the fundamentals, and I discuss that sort of thing in other threads, but, in the chart thread, I'd prefer to stay on the topic of the chart, and that's why I was talking about the short term targets such as 7 and 7.5c.
I hope this makes sense and I can stop having you tell me that I only discuss the charts, and please, don't complain about discussion of charts in the thread called "TNT Chart"
