Forum Archive Index - May 2002

[Chris Watson <Chris.Watson@computerland.co.nz>]

>From a TA standpoint, since 2c support level was broken a few weeks ago,
that same price has become the resistance level.  Lack of buyer interest has
frustrated traders to the point where one decided to unload a large parcel
taking out all bids down to 1.5.  Nervous followers reduced price to 1.4
before bargin hunters arrived.  I expect price to rise gradually to meet 2c
resistance but go no further until hard evidence of profitability emerges.
Right now IMHO this is not much of a trading opportunity.  Buy and Hold.

Discl:  Bought into SPE last month trusting that the then solid support at
2c would hold...they have since been banished into my bottom drawer which
I've labelled "long-term (i.e. verging on reluctant) investments"

CW

-----Original Message-----
From: John Wedde [mailto:John.Wedde@weltec.ac.nz]
Sent: Tuesday, 21 May 2002 9:21 a.m.
To: sharechat@sharechat.co.nz
Subject: [sharechat] Spectrum


Big drop yesterday.
No news for a while from them.
Anybody heard anything to explain this.
Cheers,
John 

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