weekend read, page-7

Hi Inaflap,

" Don't we all wish we bought PEN Friday "

No not me, have to stick to my analysis which is from a longer term lower risk entry ie monthly I would only be buying from a good looking weekly bar and last week was a bad one finishing almost on the bottom on an increase in volume which gives a feeling that not many actually wanted it, it is actually the complete opposite of what one would be looking for - ie a low volume week finishing near the highs. Of course it all depends on what timescale you are trading PEN on because you may be able to scalp a bit here or there.

"" 10% correction from previous highs I've heard some say is the new turning point, any chartists wish to comment? ""

I gather this is the DOW you are referring to here Inaflap, a big pulse for it on their Friday was the big volume they had and of course finishing near the high for the day - still they were down 4% for the week, lets hope that it is a turning point, just got that feeling thou the European debacle is not over thou.