Init I know you are or have been an investor in MIN. Saragian’s last chart there in September was a timely warning for TA-ignorant people like me of where it was going.
My holding there is too large for me to lightly let go, but I expected it would decline in price thanks to that chart, and thought I would use any lows as an opportunity to add to my holding.
The other day I bought some more but I can’t help thinking of how many extra I could have collected if I had sold out completely last September.
Pilbara Minerals …..? That was a big holding too.
But I am happily on the outside for now and certainly do not have my own trading expertise to thank for that, nor to expect the levels the price will test!
And no, TA doesn’t even try to predict fundamental changes but - as I understand it - it adapts as these come along and it can set levels that will hold or fold in both upwards and downwards directions and it contains all the essence of fundamental analysis and even - in retrospect - can be seen to have noted nasty underbellies that never reach announcement status.
I enjoy research and learning about fundamental aspects of companies and the personalities of their controllers (as I am sure you know), and I’m OK at doing that but I know that if I could add Saragian’s technical skills to that and keep a hard line on stop losses I would be better off right now by a county mile of country miles!
As you say, not every one you buy needs to be a winner but IMO the odds are better for those who understand their companies and adhere to guidelines set by good TA.
WR1 Price at posting:
60.0¢ Sentiment: None Disclosure: Not Held
(20min delay)