Very sound generaly, except with oilers. I'm not a huge fan of oilers for this very reason. The thing with oilers, is that its hit or miss. One day it isn't the next day it is. Unlike other resource explorers where samples are taken to a lab and news filters out and you have time to evaluate graphs to see the result of these leakages, with oilers you rarely get time to do anything. The chart could just as easily be dropping due to lack of demand because of lack of news. As mentioned the other day, OEX can get quite gappy and has at times very low volumes (today is a perfect example). Today I could by myself drop the shareprice by 5% or increase the sharepric by 5% with just $50K.
Charting has its purpose, Im especially a bg fan of breakouts on volume, but I do find it interesting most of the time that depending on the methods used one chartist can predict a rise andwith the same graph another predict a drop. It's an inexact science and you shouldn't be preaching as if it is one.
Happy for your predictions though, the test of a chartist's abilities is in making their calls and seeing whether the outcome is correct or not. As I understand your prediction is 40c for OEX. If it does get there Ill be the first to congratulate you for your immense charting ability.
OEX Price at posting:
0.0¢ Sentiment: None Disclosure: Held
