FBU Chart.

[Jay]

Thanks Phaedrus for you time and effort in educationg a lot of us. Pleae keep it coming, we really appreciate the efforts you put in.
While we may not all agree with you partly or entirely, I find it very hepful.

[macduffy]

The company website has an interesting presentation to the ABN-AMRO NZ Day in Sydney on 8 March.
Not a lot there that we didn't already know but its a reminder that FBU are confident of the future with steady or modestly rising work volumes forecast across most units for the next 3-4 years. Also makes the point that Infrastructure ( including construction ), while one of their major business units, has reduced its share of company revenues from 32% to 26% in the latest year, while Laminates and Panels has grown from 19% to 30%.

[winner69]

Pretty sad looking building consents data out today .... in both residential and non-residential sector. Residential consents down 30% on April last year for instance.

Prob put a bit of pressure on the FBU shareprice

[COLIN]

Fancy that, smart as they were, we're back to the price they bought at...

Sorry, I don't follow. Who are the "they"?

[AMR]

The smart money behind the OBV jump. Anyway, either today or tomorrow seems to be a good entry point.

[AMR]

The smart money behind the OBV jump. Anyway, either today or tomorrow seems to be a good entry point.

Well that was noob. Stopped out at 810. Support at 820 is now resistance. My fault for going against the prevailing trend! I should have grabbed that 40cps profit when it was there.

[Placebo]

(1) 4-price Doji. (High, low, open and close all the same) This candle is very rare in heavily traded stocks such as FBU. They indicate total market indecision, and are often found at turning points.
(2) Doji Evening Star formation completed - again, these are often found at significant turning points.
(3) Big black candle, with the price falling on increasing volume (Bearish)
(4) Trendline break, with another black candle and volume up yet again.

Phaedrus are you sure you didn't copy this as the dialogue from an episode of `Monkey'? http://www.youtube.com/watch?v=T__Jx...eature=related

[Phaedrus]

There appears to be something wrong with my data of around that date, MoSteph.
I have deleted my post until I work out what has gone wrong.

[AMR]

Well, that's the problem I've always found with buying on turn arounds. One justifies the decline by saying "it's just confirming" then kapppooowww you're at a loss. At least you're out at 8.10 and not close.

I probably deserved it! My system produced no buy signals, I just thought that it would be a good entry since I was buying right above a support. To answer Mr P, no I did not track my entry with trendlines, moving averages, or any short term trend following indicators. In hindsight, I was picking bottom:o.

Next entry signal is a close above resistance 890, completing a rectangular bottom formation.

[Steve]

It was quite a reasonable jump today off recent weakness. Is it just a bounce or the end of the downtrend?