Twin Mining (formerly Twin-Gold) Message Board

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Gold/Mining/Energy : Twin Mining (formerly Twin-Gold)

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To: VAUGHN who wrote (106)	1/26/2002 1:26:26 AM
From: bill	Read Replies (1) of 613

LF and I were both right. He called it right on the money for the first resistance line of 60. Smart cookie. I called it within a penny at 56--if the stock now starts to consolidate and move up. The action followed the chart amazingly. Resistance lines have the habit of become support lines once a stock has moved above that point. The percentage is good enough to gamble on. Last May and at the end of June and beginning of July you will see that TWG tried to break through sixty and failed a number of times. In May it did spike through briefly but did not hold. Sixty could be looked at as a resistance line. Buyers did not consider it worth more than that. However, there weren't enough movements to the sixty to form a solid resistance. That was formed closer to 56 cents. If the stock price had recently breached 56, I'd have assumed that something had happened that was negative and the stock was toast. The next resistance line would be in the thirties. That means the next support line is also there. After that you are looking at a fifteen cent stock. Breach 56 and stay below and it is time to get out, take your losses and move on or wait to buy in at the next resistance level. We use resistance and support in our decision making in our life every day. I go into the grocery store and think I'll buy asperagus. It's 2.99 a pound. I buy some. I go back a week later and it's 4.99 and I pass it up to buy broccoli at 1.99. I've unconsciously created a resistance line for asperagus. Maybe it's 3.99. Above that it'snot worth buying so the 4.99 is outrageously expensive. However, if the price goes up and stays up. a new idea will form about what asperagus costs, I may adjust to paying 4.99. Also, the store owner doesn't need to drop the price below 3.99 (our former top price) to get us to buy. 3.99 is now a bargain. When we say something is a good buy or too expensive, we are unconsciously using support and resistance lines. When you read about "sticker shock" on new cars, what lies behind it are psychological support and resistance lines. I should add that the chart program I'm using (Stockwatch) is not particularly sophisticated. The graphing leaves me with having to make estimates. My hand graphing was more accurate but brutally time consuming. SW charts are good enough for the decisions I'm making. There are charting programs that are much more sophisticated.

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