AWE (ASX) AWE to begin short term rally?

Originally posted by expectancy ↑

First I will get on my soapbox then I will address the stock's price action.

My Sermon (skip to the next section below if you don't like sermons)
Success in the markets has nothing to do with being right. Hence the reason for the first line in my post.

Our society grooms us from school through to work that we have to be right all the time so when we enter the markets we cannot handle it psychologically because we are wrong a lot of the time. We hold onto losing trades when we should get out and we get out of winning trades too early because we are desperate to be right. No matter how good you are sooner or later you will lose 8 - 10 times (or more) in a row. When that happens you get scared to put on a trade because you think you are jinxed. Your experience tells you that this is a good trade but you start coming up with reasons why you shouldn't. And that trade that you were scared to take ends up being the big trade of the year. Look for high reward trades and expect to be wrong. But when you are wrong only lose a little and when you are right win big. And keep getting back on the saddle.

AWE price action
Part of my initial post and I quote:
"Needs to break above $0.525 initially. Resistance may be expected at $0.550 and $0.590."

It did not break above $0.525 so I did not enter. It tried to but failed.

More often than not if price cannot go one way it ends up going back the other way. When it did go down it got quickly bought up producing a false breakdown. Normally that should have produced a fast move up because it shakes out the sellers however on Friday it looks like it wants to go down again. I am going to short the stock on Monday 24/04 because the reward is there but I expect to be wrong. If it goes back up above 0.49 I will get out and lose a little. But if I am right the reward is worth the risk.

Expand

Here's some radical thinking.
The shareprice will go up and down, no-one knows where short term but long term follows earnings.
It will fluctuate.
So if a stock is cheap then buy some, if it becomes cheaper buy more. If it goes up a lot and becomes expensive then sell.
Check out hundreds of companies and find 5 or 6 that deserve full confidence.
Does anyone want to leave the trading/speculating/losing money bs behind and express a view on the working capital position?
It's bothering me a bit.

GRL

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