Forum Archive Index - December 2001

[Phaedrus <Phaedrus@techemail.com>]

Trader 100,
           As you have already noted, WAM is in a medium-term uptrend, with a 
confirmed trendline in place (see below). One thing I forgot to add to the 
chart was a line showing historical support at $2.60.

Jerrold,
         Your charts look good. Re your concerns over volume (or lack of it). 
NZ is such a small and unevenly traded market that I do not pay too much 
attention here to volume, indicators with a volume component, or volume based 
charting systems. It only needs a single big buyer or seller to really skew the 
numbers. I use volume a lot more with Aus stocks, and all the time with US 
stocks. Everything you say is right, it's just a question of how much weight or 
emphasis to put on it. 
 With an entry at $2.47, this is looking like a fairly safe if unspectacular 
trade at the moment, so I guess I do not share your worries about the lack of 
any real momentum.
       Regards,
                Phaedrus.

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