Forum Archive Index - May 2004

[Phaedrus <Phaedrus@techemail.com>]

Lazy Haggis,
            I fear you have let your enthusiasm for this stock compromise your 
objectivity! 
 You speak of PNA's share price "increasing on increasing volume". Attached is 
a 6 month chart of PNA. The share price is been making lower lows and lower 
highs - it is in a downtrend. Increasing volume? The histogram at the bottom of 
the chart shows volumes decreasing, not increasing.
 You mention the RSI heading higher - so what - it is an oscillator, they spend 
half their time heading higher! This indicator has only given one Buy signal in 
6 months, and that was back in February. Currently, the RSI is not oversold, 
nowhere near a buy signal and not showing any bullish divergence.
 The MACD has indeed recently given a buy signal - the third in the period 
covered by the chart. Perhaps this signal will be better than the preceding 
ones.
 "This is the stuff of classic buys"????? Perhaps you are holding the book 
upside down! 
 I would never use the R word, but you wouldn't be....... would you? Why else 
would you perpetrate such terminological inexactitudes?

                           Phaedrus.
          

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