I only put it up as it involved AIR. I know of people that have been conned into selling shares into these scumbags.
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I only put it up as it involved AIR. I know of people that have been conned into selling shares into these scumbags.
Hopefully the 270 support will hold this round
I decided to come back in again. Picked some up at 270.5 at close of trading.
Nice post Garfy and I think your post Hoop illustrates the fundamental difference between a trader and an investor. Neither approach can be categorically said to be better than the other so its horses for courses and everyone has to find their own approach that's right for them. For me I've tried trading AIR shares on technical signals, sometimes it works and other times it doesn't.
Your implication that you can categorically predict the future Hoop based on technical factors alone doesn't appear to hold water as far as I am concerned. I think if you are making the point that its well worth looking at technical indicators as well as fundamental's then that's a perfectly legitimate point to make but that's not how it your post came across, well, not how I read it anyway. Probably his approach is just as successful or more so than others who get frightened by turbulence or technical sell signals than can often be nothing more than the SP being affected by a series of negative press articles or a new competitor entering the market. This stock is a bit of a rubic's cube but buy and hold has worked a treat in the last few years and of that fact there is no debate. Its not a sin to have some pride in our national carrier either...
At around 3.00pm today was the first successful bounce off that 270 support area which also signals that 270 support has some strength... that's the good news
Unfortunately today's drop has caused some technical damage..included was the break of the long term indicator the MA200 (278).
The global airlines index is also close to testing its support.
I never got the impression that Hoop was claiming to categorically predict anything--from where Im sitting its all about the odds,and if there are things that appear to be pushing the odds in one particular direction wouldnt it be prudent to observe (if you have the expertise)and use that to help with your investment decisions.
You have to do something ,you either buy-hold-or sell. To discount anything that helps to make that decision makes plain sense to me.
There is nothing that is not affected by the market,a house-money in the bank-Shares...might as well try to look for the best odds as you can. (doesnt mean your gonna win,but if theres an even slightly greater chance than why not look at it) nothing is categorical- not AIR,not Luxton,..not even the sun coming up tomorrow (but the odds are pretty good it will,even if covered by rain clouds)--Its all about the odds
Its natural that a TA specialist and an accountant are going to see things differently--we need both
PS-looks like the 270 has held and bounced if pre market depth is anything to go by---(just like it has done more than once before which puts the odds in its favor) to put it very simply
I apologise if I got the wrong end of the stick Hoop and I do value your input and know you are trying to help others understand other investing perspective's from a technical analysis viewpoint. FWIW its posts like #5726 that I appreciate and I am sure others do too. Then we can weigh-up whether we want to stick with our fundamental belief about AIR because of its outstanding fundmental's or run for cover because of the technical's. I'm sure it will come as no surprise to you and others that I will be holding.
100% agree with Skid's last sentence in his post just above. Its a free and fulsome exchange of views that makes this an interesting and informative forum so please stick around and continue to share your viewpoint.