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There is money still to be made in the markets – I remain bullish long term – but you can still easily back the wrong stock – note the falls in LOK (down 52%) and PTD (down 29%) during the week. WOW continues its demise since June with retail buyers picking up stock right up to the end of September as it “looked cheaper”. The major institutional sell down last week may temporarily get the “monkey off” WOW’s back but it is important to see a sign of consolidation and then later a directional change in order to minimise your trading risk. WOW buyers who negatively geared over the last few months will have suffered some level of pain already. Waiting takes patience but it is worth it in the end.
We continue to receive marvellous feedback on the newsletter – thankyou readers for your generous feedback!
Have you been to the new SITM web site? Much improved and in particular you can now search back for previous articles, by topic or author. Click on http://www.sitm.com.au and go to Articles and Reports. I hope the search feature is useful for you. You will maybe notice that we have a Discussion Board under development which will enable you to swap ideas with fellow readers. Timing to be further advised!
Tom Scollon
Editor
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