chart, page-32

Ive used charts as a guide and as an aide since I did a course on charting in about 1968. In fact I did 40 or so bar charts (with volume included) daily from that time for 6 or 7 years until I became busy elsewhere ( yes I'm old enough to be able to say I was trading in Poseidon and Tasminex days) .
I really only returned to shares 10 years ago and resumed my "love affair" with charts immediately. Thankfully though, by this time progress meant there was no longer any need to laboriously do my charts on graph paper. The internet and free sites had made access to charts readily available.
If I'm interested in a share, the first thing I do is print a 5-year chart with volume (critical to know volume IMO) to see where the SP has been and how much has been traded on days or weeks of rises and falls. This tells me straight away what the HISTORY of the co has been so far as SP and vol is concerned. I also key on div yield and P/E if applicable. One can learn so much and so quickly about a co just by looking at a chart with this info.
I can also see where there might be POSSIBLE resistance and support for the SP.
This is where my love affair ends though. Charting to me is not "be all and end all" sort of thing. It is only part of the jigsaw puzzle, the other parts being: market sentiment, number of shares on issue,company business,influences on income and profitability and so on. In fact there are lots of parts to the puzzle. I've only mentioned some.Perhaps too not many parts are relevant at times. It all depends on the circumstances of the company I am looking at and it also depends on whether I'm looking at a short term dabble or a long term investment.
Charting info to me is a very valuable tool, but it is far from being the only thing. Purist chartists I think ignore a lot of outside, and important, influences and IMO that's where they are vulnerable.
If you not using charts , then it is impossible to know ( unless you have a very good memory) how the shares have historically traded; and to me that can be very important.
Now with PEK, I checked out a chart and that gave me important information and which I put into the melting pot. However,it was the real live issues that made me invest and not the chart itself. It could be though that I'll check out a chart later on for resistance or support if that be relevant.
Above all, I have a lot of faith in PEK and I believe that the recent Presentation ( even though it doesn't really add anything to the table information-wise) will be used in such a good promotional manner by the execs that only benefit can flow to all concerned. I have a positive interpretation on the fact that the P has been issued and I'm pretty sure it has not been done just for us shareholders. This of course has nothing to do with charting, although perhaps in time the chart will show SP evidence resulting from the P and also ( and more importantly) the drill results and ensuing JORC.
Old Shady