max monday, page-12

Andrew - I follow heaps and when I say specs I mean specs. I have a lot of stocks that I actually plot each day by hand (I started in this game before computers where on everyone's desk) plus I add and subtract another group as there is interest. Each morning, I make myself sit down an write down exactly what I think on the main indicators plus all the little stocks I am interested in. It really does focus attention doing that. Have a look at the VIL chart. Became a HotCopper darling (always a worry)but had a really pretty chart. Sold too early but avoided a bloodbath. Started to build again and then today what appeared to be a good announcement and what happened ... they sold it off as soon as it ran up. Don't like this sort of behaviour from an overall market point of view. Then you have stocks such as NUP which really annnoyed me as it is a stock I plot every day but I really did not see any sign of a good announcement coming. Of course, the whole point of watching these stocks so closely is to see insider trading which shows up. I do admit though that since the sector has been performing so badly, I am less and less inclined to consider buying stocks so have missed quite a few over recent times. I would rather see accumulation patterns forming rather than distribution. But just going through the top twenty weightings gives plenty of reason to be worried about overhead resistance so it isn't just the specs.