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Re: [sharechat] CLI THIS TIME

From: "andrew cottingham" <>
Date: Wed, 30 Jan 2002 12:42:54 +1300

Mr Nua


This is my own personal opinion which may differ from others.

The candlestick formations of the last 4 trading days are almost twin 'Dark Cloud Covers'.

A dark cloud cover pattern is formed by two candlesticks where the first is a relatively long white candlestick. The second is a black candlestick that opens above the previous period's close and closes below the mid-point of the long white candlestick's body. On days 1 AND 2 CLI was only one tick short of the ideal DCC. This pattern signals a potentially bearish change in trend, or perhaps a change to a sideways pattern, - however confirmation is needed. On day 3 and 4 the pattern is an 'Harami' which is again indicative of sideways movement. Long upper shadows at the top of an uptrend also indicate that buyers have weakened and sellers have begun to move in.  One positive point is the resistance at 3.53 which was broken and is currently holding as support. In my opinion there are two ways one could consider if wanting to buy this share. 1. - a conservative trader should now wait for a close above $3.65, and 2. - a more aggressive trader may consider a partial purchase on Friday depending on the next two days candlesticks.

For fundamentalists there was an article re CLI this morning at SMH


Disc. Not holding CLI.

Please Remember:
All share trading involves risk and nothing in this e-mail is to be construed as an invitation or recommendation to trade or invest in CLI. 


----- Original Message -----

From: Mr Nua
Sent: Wednesday, January 30, 2002 10:30 AM
Subject: Re: [sharechat] CLI THIS TIME

About a week ago, traders were suggesting that CLI would break. It has, but looks to have run into resistance at $3.60.
It has still broken its short term downtrend. Would traders out there be looking to enter on the dip? Comments?
Mr Nua


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