Re: Chart Tea Cup Formation?
in response to
by
posted on
Mar 05, 2008 03:28PM
Oz
Just over six months ago the charts on NOT showed a strong bid at around the 40 cent level which means to me a size money interest. Following, the stock gapped up and remained above its 200 day moving average line following a long period of being flat and under it. When an issue does this, I buy it without knowing why. I was not a buyer at those levels because I was never following that issue in those days.
I was though, following Probe Mines and basically applied my knowledge and experience to its price activity some months ago and I did buy it on several occasions at extremely low levels.
I can understand and respect your ideas relating to charts but I, also, respect the few who spend endless hours following issues based on available chart knowledge and knowing when and where to pull the trigger without news.
It has been my premise in speculating and investing for more years than I want to remember that, price precedes news.