Forum Archive Index - February 2002

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

David

WHS. The answer to your question is almost certainly yes, but the timing is uncertain. We have to take into consideration the fact that WHS has had one chance to break out of a (bullish) ascending triangle* and failed. Currently the support is $6.40 which was once resistance,(see blue arrows), and a fall back below this would be a bad sign. The pattern forming at the moment is one I have seen many times before and in my opinion WHS will challenge the $6.85 resistance again. The Bullish Engulfing pattern of the 19th/20th Feb and the Marubozu of Friday are good signs showing the support at $6.40 is strong. Once WHS is able to break through the resistance at $6.85 I expect an initial move to around $7.25  where there may then be a period of consolidation.

*The ascending triangle is a variation of the symmetrical triangle.  Ascending triangles are generally considered bullish and are most reliable when found in an uptrend.  The top part of the triangle appears flat, while the bottom part of the triangle has an upward slant.  In ascending triangles, the market becomes overbought and prices are turned back.  Buying then re-enters the market and prices soon reach their old highs, where they are once again turned back.  Buying then resurfaces, although at a higher level than before. Prices normally break through the old highs and are propelled even higher as new buying comes in.

Andrew

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

From: David Renwick

To: sharechat@sharechat.co.nz

Sent: Friday, February 22, 2002 7:40 PM

Subject: Re: [sharechat] No Posts.

I assume that we are in the business of making dosh on the sharemarket and as quoted in one of Warren Buffet's books (here's a mis-quote) "Business is best when it most business-like." 

 I don't wish to dull down either site but affter some absence from the web I was dismayed to see the recent offensive and peurile tripe on Sharetrader initiated by "Tiger Woods" in regard to Theresa Gattung (sp) and the lack of a strong condemnatory statement by the site Administrator followed up with pulling the contributors membership.  What's more disappointing is that it was encouraged with similar contributors and even "freedom of speech" defences from others. FOS is a privilege - not a right to abuse people who have no recourse of redress. If one abuses it then one may lose one so-called "rights."

 I assume "Tiger" would be offended if I said those things to his mother - or would he?

 

Amongst the most valuable contributors to Sharechat were/are Phaedrus and Gerry Stolwjk. In my opinion both made/make well-considered measured and temperate contributions and have much experience that they are willing to impart FOC. Having said that I would encourage  all intelligent and considered contributions especially from people whom I don't necessarily agree with.

 

Now a question for those who do not "buy and hold." Will WHS break through $6.85?

 

 

WHS1.gif

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