May 2013, I thought I would share this with you, my Brokers put out recommendations which I used to follow to a certain extent.
Recently, they put out a rec for JHX long because it looked like it was bouncing off support, which was successful, I didn’t do it because I couldn’t see a W V so I stayed out, in my opinion, they got lucky with the trade.
3-4 days later, they put out a reco to go short on JHX because it had hit some resistance and they thought it would go backwards from there. Once again I didn’t like the trade, so I stayed out. the stock kept running up and they decided to abandon the trade and switch it to a sold strangle on CSL, for a small further debit.
I also didn’t like the look of the CSL, as there was no real signal for a trade. Once again, this CSL trade went bad for them and now they have put out a further reco to abandon that trade and switch it into ANZ long, which in my opinion has formed an M A and is a trade I may enter short.
On top of this they just put out a repair on a BHP short trade from a few weeks ago, at the same time as I went long because I recognised a W V pattern and traded the breakout.
The repair trade for BHP was to do a long trade on XJO incredibly which is yet to find a bottom from this pullback.
As I said Paul, I USED TO follow these guys and get tangled up in all of this nonsense regularly. I didn’t really believe you when I did your course that I already knew more than my Brokers after about the 5-6th week, but they keep confirming that perhaps I do. Thanks again, Richard.