The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
On the France price point... I've held these nearly 2 years and follow both UK and French prices. its obvious to me they use the uncrossing trades in one or the other to control opening sentiment the next day. It's a bit of bad form really, but see it day after day. Whack france down on the UT to make the UK open red, or vice versa. easy to create negative opening sentiment. but if everyone keeps buying, then the mm's strategy on that becomes dangerous to them.
Technical trading has its place of course. It is a useful tool to support fundamental positions. The problem with the modern bedroom trading world, is that many many amateur investors use only technicals, which distorts markets completely. Its a very dangerous strategy in my opinion, and it really does not help the investment markets, other than provide increased liquidity.
The problem with charting, is that when too many people follow the same well trodden charting tools, the actual good technical traders use that to rob them blind. The experts will simply use it against them to cause maximum pain. Not just a NCYT thing, its simply what the pros will do to the amateurs. There's some good books published about trading psychology and how to take advantage of the herd.
So many people obsessed with technical targets. That's the reason we are trading at 350 folks and not 700-800. How about people all put away their charting text books and online tutorials, and look at the world outside the window and the associated testing feeding frenzy. Maybe then we can all start talking about real target levels at fundamental levels..
The problem with having so many resistances DRB83 is that they lose their strength. if theres 5 or 6 in a small range then generally they dont really act like much of a resistance as people dont know what to target. From my perspective there is no resistance now until around the £5 level. You'll get your usual round number psychological resistances, but they wont hold.
It will go up significantly today. It broke a very strong resistance convincingly yesterday. When that happens you get a little retest like we just had this morning, then it goes again. Seen it happen many many times before.
I see they have run out of the home testing kits now. With cases going crazy and PCR in demand off the charts, how much longer before we get the mther of all contracts/orders? Must be imminent