charts, page-7

Yaq,

Though not in the realm of the "day trader", I do find the behaviour of the automated trading bot interesting.

I differ from you in that I would not assign malevolence to it. I think the bot is quite agnostic as to which direction the market should go. It simply follows the market, attempting to reinforce the direction.

I admit, however, the market is prone to sudden drops, and slower rises, so the bot will find it easier to make money with a falling market.

My experience of selling (and buying) in a quiet market is that as soon as a real entry comes on to the market the bot will push in the direction of the trade. Now here is my paranoia - often before the trade has reached the market, taking out the opposing position before my trade is taken up, perhaps forcing an amendment to a different price to follow the market.

Jamie,

Your charts are artistic, but what do they say? I am sorry to confess a slight cynicism about TA (despite the fact that I might "trade" a stock myself). However, I am happy to listen to the arguments.

Back on the the 5th Nov the price dropped dramatically after an announcement. I suspect the drop was due to "fundamentals" - people sold when they didn't like the news, myself included.

We have seen the price recently fail to get through 0.850 (which some may argue a resistance), and perhaps one could argue that the point of support may be around 0.805. More relevant is that number of trades today is very low, with uncertainty as to where it's going - whether to get out whilst there is some profit, for hang on for another 4 or more months until the next resource upgrade.