Forum Archive Index - December 2001

["andrew cottingham" <arco@adinfinitum.co.nz>]

Phaedrus
Hope you don't mind me posting a WAM candle chart for any interested
parties.
I've indicated a few of the signs leading to the turnaround in mid-Nov.
Best wishes
Andrew
Disc . Don't own any WAM

----- Original Message -----
From: Phaedrus <Phaedrus@techemail.com>
To: <Sharechat@sharechat.co.nz>
Sent: Tuesday, December 18, 2001 11:55 AM
Subject: [sharechat] WAM Chart


> 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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>


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WAM 3.gif

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