a traders perspective, chart direction, page-12

Hangseng good of you to reply

I would be tempted to agree if it was not for all the indicators being bearish eg diverging from the price.

Secondly, they are equal bottoms but do not really equate to a triple bottom as per the definition of such. My concern here would be the lack of volume kicking in at these prices.

Thirdly it has been taking too long to run, the 50day moving average is starting to point down.

Then moving away from the chart, all the announcements that have been very good should have spured this back into positive territory and has failed. This would indicate to me that they are using the anns to try to get participation but it is not working.

However it wont be long and we will see where the price does go I guess. If breaks I am not sure I will buy at .04 now that I have looked a bit closer, unless a key reversal kicks in at some point with good volume.

I note you mentioned the other day that production maybe around the year 2012 which is a significant distance down the track. Most stocks I have been watching have production a lot closer and yet a lot cheaper than PEN now there maybe various reasons for that I agree.

By the ways appologies for any offense the other day, sometimes knee jerk to some of the responses I recieve. All posters whether postive or negative, traders or investors, holders or non holders, should have respect. I see you do a lot of work in promoting your case with this stock and do respect that regardless if it is thought otherwise.

I assume this is the only one you hold?