RE:RE:MMY | my humbled tech. opinion on the weekly chartHi Wayne,
First of all, thanks for your very kind introduction here in the MMY board. I am very interested to discover if and how this holding - which is actually trading below book value - will be able to present its complex multi asset story to the broad market in an effective way - who (unfortunately) anticipates simple stories better...
But hey, I am confident that time will help MMY here.
Since being an investor and not a trader, deeply understanding the fundamentals of the business I put my money in has first prio - but after a decision is made in general, I am using tech indicators on the weekly chart to steer my investment according the mental constitution of the (most of the time irrational) market.
And exactly here, the bunch of tech indicators I am using (>> check the chart link in my previous post) are so helpful to recognize patterns and when it´s time to throw in the money. One or two times a year, again and again.
To Richard:
ACHTUNG! :-) My humbled tech analysis is NO German whitchcraft or being powered by German UFO technology. It simply measures the grade of market desperation, shows when markets re-gaining trust and when they are going into the opposite extreme. Bi-polarity or irrationality of market is measurable - and every market tends to swing (mostly lower and higher than convinced believers of some market might expect), powered by fear and greed.
Timing of entry windows is feasible but timing of exits based on indicators is not. Exits should be driven by reaching pre-defined fundamental market ratios and should be exercised by phasing out step by step, keeping a remaining position for the unlikely „swing over the fences“.
I will check the MMY chart from time to time and post my opinion on its moral constitution here.
A great weekend everyone!
Gotti