chart 01-10-09 , page-6

Hello all fellow holders.

Unfortunately I don't see much optimism on the charts. We have broken past resistance and closed below yesterday's hammer, abeit only just. If we were to do a classic reversal it would have been a white candle today bouncing off yesterday's hammer low which was also a resistance line.

On the Western indicators MACD, RSI and DMI have all well and truly gone south.

However we all know why and the shorters don't help either (god I hate them). There are no fundamentals to suggest a drastic rerating (lower) of this company in the LT as Phat has pointed out above. Once the deal will be done it will come back, only question is are you game enough to try to pick when?

When the stock price is as directly influenced by news as in this case I have found it can sometimes bite you in the a$$ to try to read the tea leaves (ie charts) too closely. Nothing worse than getting stopped out a few % from the bottom then watching it recover 10-20% in a few days.