another classic sign of top /short alert, page-8

Sandune,
While I agree that EVERY new high on the ASX or any share could be "THE TOP ", I've given up trying to predict it.

I had been hand charting shares since the 80s and when these new beaut computer charting programmes came in I thought "How good is this"
Every company & every indicie chart available at a keystroke.
And I could see tops & bottoms everywhere.
Trouble is most of them were only pauses, before the continuation of the trend.

YEP..... the higher it goes the closer it is to the top.

Looked like it in July 04 ... XAO ~ 3560
And again in March 05 ... XAO~ 4240
Again Sept 05 ... XAO ~ 4580
And again right now with XAO ~ 5000

Not saying you are wrong here but there could be more legs up.
( THe greater fool theory.... LOL )
The trouble is logic is not present at tops or bottoms, but where does the euphoria stops & the panic starts.........?????????

I know all this is not very helpful, but Im not the one who "Rings the bell" LOL

Cheers,

Bendigo