charts, page-16

Rhodes2Ritches - now there's a voice i'd like an opinion from on the MEO chart right now. Not being smart, I love your work on the charting threads. Where to now for our MEO? I thought it was oversold a week ago, but i was on holidays and couldn't be stuffed speaking about it. She just keeps on keeping on. I'd love your thoughts on where we're at.

Truth be told I left out a few charts 'cause i dont like a few indicators. I'm in bit of quandry with my MEO trading parcel! TA says no let it go on the RSI, stochastics & William % R - it's overbought and it's not going to hold up. But the last two ticks they've turned when i expected them dive, but like all TA this is only on my indicators and it depend's on the time and value settings you use.

There comes a point in a stocks time and cycle (particularly and O & G spec) where i give up on TA and say "Yep she's in the hand's of sentiment now". I feel that for MEO that time is right now.

There has been no increase in buyers, but sellers are declining. From now on in to spud it's volume based for me, and when I see the right sign for me it's it's double up time. I feel a lot of players are now set for the main game.

I'll post two more to go on with that's keeping me in the game with my trading parcel and holding against my better judgement. The OBV and a custom one called "bull vs bear". It's volume based and following the course of trades this week there's a distict difference of late (and particularly in the last two ticks). MEO did stuff against dull market forces the last two day's when i expected it to fail. I'm going to run with it with a tight stop.

I'll still going to squeeze in a few trades pre spud, but for me It's all down to FA now. Very comfortable with Jurgen and the good ship MEO mainly due to the FA crew and the wealth of knowledge they've shared on these threads - so thanks go out to IAM, YA and many others.