why the pullback?, page-6

Hi drummnut,

PBG is only one of them I traded currently, others are LYC,ABY,PEM,MGX and a few others. So it is ok if if is time for me to get off. I have to base on some evidence. As there is no further communication despatched from PBG HQ, I now let the charts guide me. There is no evidence of a bubble at the moment. From my little knowledge of charting, PBG is at an accumulation stage. We do not even know whether this stage has been completed.Yesterday spinning stop has not yet been confirmed. Even if it is it is a short term action only.The stock is trending strongly.
PBG price was pushed down at the end of day,may be an indication, accumulation is not over yet or a senario where short term traders are taking a profit.The distribution phase has yet to commence. This is a phase where the price keeps going up on thin volume, cumulating in a blow off at the top.The accumulation phase may yet continue for some time yet, so i won't even predict when this will end. That is the reason I am still holding on to PBG.Sometimes traders do not get in till their weekly indicator confirm the MA is going up.These traders work on a longer time frame.

cheers,

malay