Gee, thanks P! rainy french summer just got rainier. and tomorrow am off for a full-day tour of WW1 trenches in the Somme. [B)]
rethinking the wisdom of these 3-month absences is made easier by a haunting sense of fiscal responsibility... cheers!
Hi Phaedrus
The OBV shows a strange leap or two in May on my free charting program Big Charts. I wondered what you think that meant in this context. Big investor getting in in a downtrend low hoping it was the bottom?
Hi TT, The jumps in OBV that you noticed mark significant buying activity and as such can only be viewed as Bullish. To put these 2 days into perspective, consider this :- The average MFT daily volume is around 120,000. The first atypical step you noticed was of 3.4 million, the second 2.7 million. These were no ordinary "high volume" days and these are not buyers of our calibre, TT. A "Big investor getting in in a downtrend low hoping it was the bottom?" Maybe - we will never know their thoughts. Another view might be "Big investors with insider knowlege buying up large". Some say "Jumps in OBV should be ignored." Not me though!
The MFT OBV did not stop rising when the uptrend ended. This means that it was and is still being accumulated. If MFT had reached the highest value that insiders knew it was worth, they would be selling down, distributing their holdings to smaller players that know a lot less. This is not happening here. Technical conclusion? MFT has further to run and the current downtrend should be monitored closely with a view to buying back in.
Waiting for lcr@nzx.com to send me a copy of todays speeches from the AGM. I can not find them on the MFT website either.
Anyway today the announce that they have nearly bought one and maybe it will be three US freight forwarders as part of their plan for world domination.
Doing the right stuff, day after day for year after year.
Agree PT.
An example to others on how to do it right.
Proud to be a shareholder is this one.
Also good to see Bruce Plested taking a pot shot at the Govt....."A growing bureaucracy at local and national levels [is] feeding off valuable GDP growth and slowing our ability to react quickly and efficiently to world markets..."
Unfortunately, I think his statements will fall on deaf ears.It has for the past 7 years or so.
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