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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)
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To: keith massey who wrote (1660)11/10/1999 6:51:00 PM
From: Mr. Oil  Read Replies (2) of 5053
 
Keith, I looked at your chart and I got to say I respect your TA expertise but it looks very much like we need to close that gap before we head north for good. If we don't close it over the next 3 or 4 days I fear the price will be getting ahead of itself and we will end up closing it from a much higher level. That would hurt more in my opinion so I would prefer we just get it done. The chart is just going straight up which is uncharacteristic of it's recent history. That just is not good for long term support.

Now let me quickly add that I have not sold any shares for a pull back but I am just uncomfortable with breaking a new high unless we have news to support it. I got your feedback re the chart a few posts back and you seemed right about support but I am still not convinced it is "strong" support. One might argue we hit a short term top for the 2nd time today and did not break out. I think we either break out very soon or I think we close the gap before the break out. JMO and IDKABLATA (I Don't Know A Big Lot About Technical Analysis) ggg If we do close the gap, I will definitely be more certain we have a strong base. At the very least I would like to test the support level you believe exist at the .92 range. Maybe a double or tripple bounce would confirm it's strength.

Ray
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