I speak here of SRF - I know little about them except that the last rites are not far away.
But I did write about them in March last year when I expressed my fears and also again in June when I declared it was all over red rover. I hope none of my readers got caught. It would bring me to tears.
Take a look at the chart:
Click to Enlarge
I am not saying I told you so. I am saying that the market is behind the technicals.
When using a powerful package such as ProfitSource you are given the signals. It really is as simple as that.
For those of you who have ProfitSource I would encourage you to back test - go back in time to see how the chart looked in March and June 2016.
Do that on a daily chart and you will see there were numerous signals to get out.
The other point I wish to make - I say it ad nauseam - is that you must decide when you are going to fold and leave. It is not tough. You just need to have your rules and stick to them. I repeat your rules must be simple. I promise you if they are complex rules they will get in the way of sharp and timely decision making.
We will see others in the coming months. I reckon I can find another in the next month.
Watch this space.
Enjoy the ride
Tom Scollon
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