Subscribe Feed (RSS)PWAV & NZ Telecom
April 4th, 2006 by eyal | Filed under Day Trading, New Zealand. |
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Well that’s been an intersting start for the day. I woke up an hour late today since I wasn’t aware of the time change - duh! So I missed out the whole pre-market and first 40 minutes or so. I hate it when that happens because by then my main indicator - trade rate is not as useful anymore. Luckily I spent some time over the weekend configuring Trade Ideas to return similar candidates as I manually do in the morning. So using the alert history feature of TI I was able to get a candiate list for today.
So, when I joined the game my screen showed a weak market so I went short PWAV which closed end of day at +1.2R profit. Not a great result from a risk : reward perspective but considering the market started rallying not long after I entered I’m OK with whatever I could squeeze out of that short. So nice work by the new addition to my stock scanning tools. You can check it out for free for 7 days on my affiliate link here.
On another note, following up on the Telecom post of yesterday. What I didn’t mention is that after I heard it’s going to take 2 weeks I asked to speak to a supervisor. Initially, to my astonishment, the rep I was talking to wouldn’t transfer me and kept saying “this is not a case for a supervisor”. It was only after I asked “are you actually refusing to transfer me?” that she conceded and put me through to a supervisor, who basically repeasted the same story. I then asked for all his details and asked finally, is there something else that can be done, before I go to all the media to report how the national carrier of NZ is unable to provide basic customer service for 2 weeks. He said they’ll try to see if they can squeeze me in but they can’t promise. I said fine, give me a ring. So today they did. First thing in the morning, and the line would be installed… today! Now that’s customer service :)
[...] Trader Eyal « Every Click You Make PWAV » [...]
Nice work Trader Eyal :-)
Thanks :-)
Isn’t it sad that, in this day and age, you still have to resort to those kinds of tactics just to get basic service from people. You know, I don’t have wads of money to throw around at people. You’d think that when I’m willing to part with some of it, the folks I’m willing to give it to would actually want to take it.
Unfortunately, this is not an isolated problem. Telecoms work like this even in the US. Even though, ultimately, all it takes to “turn on” your service is some drone somewhere typing a few entries into a computer, they still insist on sending a real person out to the “box” to re-attach the phone wire they detached when the last user left. Of course, this person is unionized and costs a fortune relative to what they actually “produce,” so the phone companies don’t have as many of them around as they used to. Hence, you end up with ridiculous things like “2 week waits” for a basic utility.
It’s nice to see that the squeaky wheel still gets the grease. I suspect it won’t be too long until even that won’t work, anymore.
The unique thing about NZ is that Telecom has complete monopoly over this market and has been abusing this for decades. NZ is at the bottom of all OECD ranking for telecommunications and broadband. I have very little sympathy towards them. Even now after the line is installed I need to wait another 2 working days for the open order job on file to be closed until I can place the order for broadband which will take another 3-5 working days to activate. Maybe I was spoiled by Hong Kong and Singapore where you order it in the morning and you get ‘pissed off’ that it’s only coming live at 4pm ;-)