will history repeat?

Here is a PDN chart from 03/04



You will note that there are some pretty horrendous looking "candles" on this chart. Indications of heaving profit taking and day trader activity.

There is a fundamental difference, however, between AEX and PDN's charts. PDN at this stage was in an early uptrend, whereas AEX has only just emerged from a long term downtrend - ie, there is still alot of overhang associated with stale bulls in this stock - they are not interested with the possibility of having to wait 2-3 years for AEX to get a mine up and running. But I would not get too stressed about obvious day trader activity.

Here is a link to a discussion thread at the time when PDN traded some 40m in one day where there was a massive sell-off

http://www.hotcopper.com.au/post_thread.asp?fid=1&tid=85327#229419

I do like candles, but they should not be taken as gospel. Look at DYE a couple of days ago - gave a sell signal, but gapped up on the open the next day.


So, in summary...just chill out guys. Relax and have a good weekend.

Marchello