It is one of:
Brownian Motion;
A Random Walk;
Chaos Theory (including Fractals);
or
Something Else.
Best Wishes
Paper Tiger
Printable View
Hmmmm..after your post Baa_Baa + a bit of PT banter I had a closer look at SUM...Yeah there is a bit of TA foul air there.. TA Investing-wise there is a good argument to say that nothing much is lost by taking a wait and see action rather than jumping in at a free lunch opportunity..However the share price has corrected itself so Roger's opportunity has paid off in the short term..good on ya mate:D.
The hint of TA foul air could just be a breather after a quick (2 month) 20% rally
The 7c rise today doesn't remove that foul air...Has to get above ~$5.40
SUM has been a terrific long term hold stock (great Superannuation type Stock) and a must have stock in anyone's Portfolio (continuous up-trending stock)
SUM has had 2 secondary down trends (both lasting 4 months) within the current (since IPO) primary uptrend..the first down trend quickly rallied 25% then took a breather for 4 months..
Will this previous down trend result the same way?..we have just witnessed the 20% quick rally.. Are we witnessing the start of the breather stage??? The hint of TA foul air suggests maybe so.....We don't know how long or form the breather will take..We only have one historical experience to work from the previous event.. that breather began with a 7% throwback (back to ~$3.25) followed by 4 months of resistance hugging plateau at ~$3.50..
Would be quite happy if some 'technical' sell signal was triggered and forced everyone that follows that sort of thing to get out at once.
Got a free lesson today in not counting your chickens until they hatch...suppose it could have been worse and speaking of chickens bought Tegal shares instead :eek2:
Anyway as Hoop quite rightly says, this is a terrific long term hold stock and that's exactly the reason I topped up so short term price aberrations (random walk theory) don't phase me too much.
[QUOTE=Roger;659051]Got a free lesson today in not counting your chickens until they hatch...suppose it could have been worse and speaking of chickens bought Tegal shares instead :eek2:
Expect a "please explain notice" from KW.