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Hi RD2U, I have to admit I was a bit hazy when I wrote that piece last night after a frustrating day dealing with endless demands from auditors and several beers to drown my sorrows.
I suppose my sceptism comes from studying economics and accountancy and having a more logical approach. If you think of it in simple terms, the price you are prepared to pay for anything would logically be what you perceive it to be worth. However, we don’t buy shares because we want to own them per se. They have no value other than how little we can buy them for and how much more we can sell them for. For those that want a quick return on their investment so they can buy some more cheap stock and sell on at a profit again in order to make a living i.e a trader, the charts are key.
For those that perceive that the intrinsic worth of a business or commodity is under-priced and are prepared to hold the shares until that value is realised have very little need for charts. They just need to ensure that the reason why they invested and whether that value will still be achieved remains in place.
If the latter seems a little dull and you don’t see yourself as the next Warren Buffet, a mixture of the two can be a lot more fun, provided you get it right.....
Cheers, Ash
P.S. I really should get out more on a Friday night. Times have changed!!
Part 2
I am looking forward to the weekend. I would wish to have more interaction with you Ash on the various over laps that we have as I believe we could learn a lot from each other. Preferably in the real world, down at the pub over a couple of beers! Unfortunately we know that this can only be done remotely. I would be willing to share coordinates to enable these physical arrangements to happen. A whatsapp group/ zoom could be formed? Maybe we should also invite plasybryn aka VanVan who is as we know an avid supporter of this wonderful company which we hope will lead us to unimaginable riches or toys? If TW can put on such an event and charge his patrons £2.99, having previously charged me £9.99 for a similar event back in May 2020. I believe we can do this too at no cost. It is a pity that Yellow Jersey PR cannot arrange such an event. In other companies I have invested in these types of shareholder Q & A sessions prove to be extremely successful especially during this period of restricted movement and taking into account the impending vote on the JV agreement and AGM. I am certain during normal times several investor evenings would have been held to inform. Alas this is not to be. I shall be writing separately to the chairman as I feel that in terms of corporate governance it is unacceptable for us shareholders to be compelled to pay money to a third party so that shareholders are selectively informed by BOD members. Goodness knows what we are paying Yellow Jersey PR money for. Oh I forgot t-shirts maybe navy blue and other branded items? If I remember correctly it was Kerim who advised that he would follow up with his sources back” down under”. I personally would not wish my CEO to spend any time doing the work of the PR company as I would prefer he concentrated on the day job! I look forward to reading your replies.
As always ATB care for your loved ones, who knows we might all have the liquidity party in Perpignan if this ruddy virus would p.. off.
Best wishes
RD2U
I am posting my reply in 2 parts.
Part 1
Hi Ash,
Let me assure you and others on the BB I am not a technicals fanatic or extremist. You and I have learnt to respect the technical signals that we use. It is important that each investor in both the short term and long term should be comfortable with the technical indicators that provide them with the best results n’est-ce pas? I regularly look at the daily candle sticks and patterns! My charting skills have been severely diminished following my stroke, although with the few brain cells I have left, they assist me to determine if the chart pattern is what it is said to be C/O https://academy.investopedia.com. May I suggest Ash that you and the other BB members spend 10 mins as part of your research listening and watching https://www.youtube.com/watch?v=W3qxwSXJNMk. Ash you say that you have some respect for the dark arts in supporting your decision making with some scepticism, you prefer your judgement of the fundamentals possibly ignoring the market behaviour which is what technical analysis is all about. Your analogy of fluffy ones made me LOL as I sincerely hope that it also amuses PAUL1DEANO who posts “comments on here amuse me” which I am so glad! Ash google Bollinger Bands if you are hazy, measuring two standard deviations from the Simple moving average. Thereby determining oversold and overbought depending on preferences! I use both technicals & fundamentals in my decision making! Like a bat out of hell.
Cheers RD2U
Hi RD2U, my problem is I get a hazy when it comes to Bollinger and bollingers. I’ve always thought that charting is like a self-fulfilling prophecy devised by someone very clever with a pack of crayons, who thought if I do this, then the sheep will eventually follow. No basis in reality, but it has become so well established now that the shepherds no longer need sheep dogs to herd the sheep.
However, drop a spanking RNS into the mix and you have to get the crayons out again! Personally, I prefer something a bit more fundamental, but have come to learn that it’s not always wise to ignore which way the flock is heading.
On that note, I would add that I sold my ECR first thing Monday, added some here and some in GRL. As Meatloaf sang, 2 out of 3 ain’t bad. Down on the week on my HUM though. Maybe I should’ve followed the fluffy ones.
Cheers, Ash
I’m in ECR and GGP to, so comments on here amuse me.
Also bubbling in UJO to.
Technical trading in these types of shares, hmm not for me, different ball game.
Hi VV
Hopefully crossfire will not object to you copying across his post from ADVFN.
For others please research the chart pattern “ascending wedge pattern” as well as “pennant flag”. Always remember to do your own research! As we know this a chat forum to share knowledge so that we can all have enough for some toys or even better. Apologies to LTH’s if I am called out as an ayatollah. I am not even an imam, LOL. Is this some kind of positive recognition, I just wish we could get back to our usual chit chat which I have so enjoyed but we seem to have been turned upside down. Even Ash’s post to provide calm was met with hostility, so sad. I suppose this post further exacerbates the situation, hence my apology in advance. I shall be more mindful in future.
Thanks Ash you are right. There is no bible out there or even on AIM despite sipptrader’s comment to the contrary “how an emotive like me can be a fairly successful investor! Me too LOL!”.
Ash, I think that the continuation of the trend will be lower than this, I am looking at 4.278. However you may be right for the break out target point. Isn’t the dark side exciting? Watching gold –XAU closely at the US$ 1,804 – 1,810 corridor marginally down on the day. Let’s see what the US open has to offer, no major surprises on the macroeconomic fundamentals so far, looking safe as we go into the weekend. Hopefully POTUS will not disappoint. I will post separately regarding AAU’s inclusion in a pay per view, TW share cast with given timing awaiting MOU finalization and annuals. I can’t imagine any new information as clearly this would need to be announced to the whole market via RNS. Corporate governance extraordinaire.
As always ATB keep safe
Best wishes
RD2U
I agree Ash. Possibly plenty sitting on sidelines for the next trigger. Plenty of tasty news to come just a bit of patience I guess.
Hi VanVan, would be nice, if it can break out of this 3.75-4.25p range that it's currently settled into, but I expect it'll require some positive news and some added interest to the current topping up from the bigger LTH's.
Cheers, Ash
Crossfire on ADVFN said this about the Chart -" that's a lovely continuation, slightly ascending, wedge / pennant / flag whatever. Keep forgetting the difference, but one of the most reliable patterns in charting to my knowledge. Nice and long. This is going to burst out higher pretty soon IMO." Hope he/she doesn't mind me copying that across.