Powertel

I bought into this Aussie telecom firm where the green arrow is on the chart. This was based on a tip from a Hong Kong based investor I know online and the research from investment banks he sent to me. My purchase price was $A1.20. It's been pretty volatile since I bought, but as I write it is now at $A1.35. Is it finally breaking out of the multiyear triangle I outlined on the chart? It recently declared its first ever profit (as predicted in the research) and then signed a wholesale access agreement on Friday with Telecom NZ's AAPT subsidiary. AAPT was my second individual shareholding, which I bought at the IPO in November 1997 (the first was Colonial - also an IPO buy). AAPT was acquired by Telecom NZ yielding me an eventual $A8600 in profit. I still hold Telecom NZ and it has yielded me an additional net $A100 in profit in the last six years! Sounds terrible, but on second thoughts that's about what the S&P 500 has made including dividends in the same time frame.