Watching for an oversold bounce with that ASX gap down open...
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Watching for an oversold bounce with that ASX gap down open...
no doubting growth blah blah blah what FPH is worth is what a reasonable PE to use (the simple methodology, like the lazy man's DCF)?
Currently at about 37 .... not much lower than a few years ago.
Market saying thats reasonable ..... so no worries about today's share price
Heard an interesting turn of phrase on CNBC the other day I'd never heard before. "Dead cats bounce best". Maybe Johnny the Horse uses the old dead cat bounce theory with his day trading ? https://www.thebalance.com/how-to-da...rategy-1031479
I tend to keep my high PE stocks to a minimum, but It is tempting to buy some more of these at this price. It's nearly at pre-covid pricing...There is still a reasonable risk of new variants popping up that elevate hospitalizations, almost seems like punters think covid is over and have tunnel visioned on the impending interest rate rises. Have to think about it I guess.
Kind of similar concept, but not always. Essentially you are looking to buy at the point of maximum fear and capitulation (using RSI on various timeframes and price action), when there is no one left to sell and then FOMO arrives as it starts bouncing.
In this case I was using it for a dead cat bounce, but I regularly use it during strong uptrends to add to long term positions e.g. if we are forming a monthly bull flag (i.e. very strong long term uptrend) and daily RSI hits oversold then I am a buyer (obviously some more subtleties to it). As an example I used this to hoover up HGH in the low $1.70's last April, when people were panicking and wondering why on earth the price was dropping from $2 (oh yes I could smell the fear).
someone mopped the floor at the end of trading
Yikes NZD:USD ‘marching towards’ 70 cents ……and one media commentator say likely to be over 73 cents mid year
A few weeks ago it was 65 something and heading lower
Might trim Fph profits a bit