re: off topic chart chat The only way a chart can tell you what...

re: off topic chart chat The only way a chart can tell you what is in the ground is if it is a wireline log run down a well bore. On the other hand if the result is already in and someone is leaking the info to rampers then I guess technical analysis can be helpful.

But that's supposed to be illegal.

Otherwise there is no way of knowing what GDN, ADI or anybody else have in the ground until the well is at total depth tested and pronounced one way or the other.

To use charting techniques to trade oilers tells you not what the drill bit is likely to find but what punters, spaced out by ill informed posts and dubious company assessments, think it will find. In other words the chart is a measure of sentiment by identifying the greed factor, when the line fall over a cliff it measures the opposite.

If you use trading techniques to time an entry into a "besbs" or bobn" play then that make a whole lot better sense. But graphs, MACDs, Bollinger Bands etc etc will never tell you what is actually in the ground QED.

www.oilers.com.au

Happy hunting!