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     holycow
Member
Username: holycow
Post Number: 997
Registered: 08-2004Rating: N/A
Votes: 0
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| | Friday, March 25, 2005 - 10:32 am: |  
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ADY Daily
1) Ok, had been staying out of this one for quite a while... but just can't resist with its recent development. So far, someone has made a lot of money, and it's time to say enough is enough, let's call a top a top.
2) so you got a top in ADY, what you gonna do about it?
HC
"... if you've got a chart, I have an opinion!"
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ken
Member
Username: ken
Post Number: 147
Registered: 04-2003Rating: N/A
Votes: 0
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| | Friday, March 25, 2005 - 12:05 pm: |
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HC,
My chart looks different to yours - only a gap on the way up.
Colin,
Can we confirm whose data is correct please?
Ken
Price is the leader of the market crowd. (Elder)
Members of the crowd follow the leader and experience the same emotions as each other.
To be independent of the crowd we must not change our behaviour with price.
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holycow
Member
Username: holycow
Post Number: 998
Registered: 08-2004Rating: N/A
Votes: 0
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| | Friday, March 25, 2005 - 12:47 pm: |
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(...just lost my reply! don't know why really - this is my second attempt)
Ken,
Sorry. I have three set of data, two of which I update manually. This morning, I was using the set that has 21/3 missing. My mistake.
1) Referring to your chart, the red candle on the 21/3 is a big exit warning, those who took heed would have gotten out slightly better off;
2) the following day's doji indicates many buyers took the opportunity to buy in or loaded up more; but as was shown, the selling at the end has knocked the bull back - I take that to be a signal that there were more sellers by the eod on that day;
3) the following two days indicate selling had somewhat subsided but still there were some jittery holders - the share price was down to lower than that of 21/3;
4) moving forward - the overall chart is showing a somewhat H&S formation - so caution here;
5) if I have this stock I will watch 16.5c very carefully - the sp is looking vulnerable - if it opens down next week, I will take that to be a sayonara call.
Cheers.
HC
"... if you've got a chart, I have an opinion!"
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ken
Member
Username: ken
Post Number: 148
Registered: 04-2003Rating: N/A
Votes: 0
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| | Friday, March 25, 2005 - 01:01 pm: |
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HC,
There is definitely risk here, but i'm prepared to let it retrace to -100 on the CCI - it got to that level on the last major pullback.
About Island Reversals - I have noticed them this morning on BHP and RIO. Wat do you think?
Ken
Price is the leader of the market crowd. (Elder)
Members of the crowd follow the leader and experience the same emotions as each other.
To be independent of the crowd we must not change our behaviour with price.
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holycow
Member
Username: holycow
Post Number: 999
Registered: 08-2004Rating: N/A
Votes: 0
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| | Friday, March 25, 2005 - 05:13 pm: |
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Ken,
ADY, not sure what your position is, so I am not implying anything except just stating these considerations:
1) from 16.5c to 10c = -39%
2) XAO, last three days resembles "three black crows" which call for caution (but I am not ruling out a rebound), in particular yesterday's market action - a shortened session with higher than average volume and value transacted (action oriented towards more selling than buying)
BHP, RIO - their "island reversal" and "gapping" seem to happen quite regularly, so, I'd attribute that to their "normal" behaviour. But with both sp's recent behaviour (sideway congestion with RSI dipping), and with last couple of day's sharp overall selling - I wouldn't want to look at them just yet.
If there's an interest in these stocks, it's best to wait for the dust to settle. Here is the link to the charts on RIO and BHP.
Cheers.
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HC
"... if you've got a chart, I have an opinion!"
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holycow
Member
Username: holycow
Post Number: 1000
Registered: 08-2004Rating: N/A
Votes: 0
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| | Friday, March 25, 2005 - 05:18 pm: |
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Ken,
Sorry, please disregard my comment on ADY - I didn't realise you were talking about CCI. And yes, I agree to wait for the CCI trigger (probably end up the same as using 16.5c as the cutoff point).
Cheers.
HC
"... if you've got a chart, I have an opinion!"
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