for spitrader2, page-2

sharejockey,

Predicting the market is a game I do not play. It's good for the ego but not the bank balance. My preference is to just listen to what the market is saying now, and then go with the flow. If the flow stops, I get out.

Right now MAK is obviously strong, and it appears that the uptrend is continuing after a brief pause.

As far as candlestick analysis goes, we are now entering a price range that saw heavy selling on Wednesday last week and not enough buyers (rejection). In most situations like this, sellers will re-emerge if price goes back to these levels.

The strong close today on relatively low volume indicates that in this case the sellers may have worn themselves out on Wednesday and possibly Thursday. This would explain why prices did not fall lower than Wednesday's low.

The big question is, will buyers aggressively support MAK at prices leading up to the previous high at $2.08? They didn't last week.

Todays close is the highest on record for MAK. The price also closed on the days high. This means buyers were scrambling to get on board in the closing auction. All of this indicates that MAK is likely to be strong tomorrow, with good chance of making all time new highs.

Cheers

ST