chartists are share psychics nothin more!!, page-39

Haspete I know you are a charting legend so this may not go down too well. I you to read your charts on another stock (not allowed to mention otherwise moderated)and they were looking pretty good and I thought this charting malarky might be true.

You predicted in your charts that there will be a steady rise due to a pending announcement. The announcement never materialised and you subsequently didnt make a post again for at least 3-4 months when the announcement was finally given and again you stated that the SP will rise and then blue sky.

Firstly I can tell you without looking at a chart yes the price will rise as the market is expecting a good announcement thus buyers are in pending the announcement common sense my son. Then you vanished but came back after the announcement yep share price going to go up the charts are telling me this. Of course the SP was going to rise it was a strong announcement seriously you need charts for this?

I had a look again recently and the SP has dropped so again the blue sky reading from the charts was incorrect.

So you can see all you do is guess from buying trends if a stock will do well its not technicals its common sense.

You appeared on the PEN forum and have started preaching about your charts but again its common sense.

Did your chart tell you the SP was going to hit 12c if you did that is rubbish. The main reason for the pull back n the PEN is the trouble in Libya and thats why the whole market was down and that is the only reason.

Markets have now regained Faith that things are easing off a little and so this is now reflected in the SP as well as thousands of other shares.

Now without a chart PEN is becoming the most popular share on the ASX currently as it has a lot going for it especially with so much positive news pending. Now due to this and only this (no elliot wave or indian warhammer rubbish) is the SP going to slowly bt steadily increase. Now if say PEN didnt decide to go into production then the SP would get hammered and there is no way ever ever is it possible one of your charts would ever pick this up.

CHARTS ARE FOR BUYING AND SELLING TRENDS NOTHING ELSE.

All my own thoughts so take it as you like I think charts are as bad as tea leaves in a saucer!!