Jon - concerning Chip's TA:
I don't want to defend Chip, who BTW has a serious attitude
problem, but here's a shot at what he might have seen.
Since you are open to discussion, I'd like to know
what you think.
the first clue was around november 21, when CREAF had
quite oddly givin up it's normal volitility. look at
chart for a long enough period (a year is good) and
you can see that the jagged lines suddenly stop. something
was changing. by the end of november, that new look took
on the appearance of a rounding top. a symmetrical triangle
late last week, which BTW was playing out in QNTM at the same
time, completed the top and the stock finally broke down.
going back further, since May there have been three successive
repeats of what had become a familiar pattern. note, however,
that each rise was smaller than the previous one. I think
that when we look back at this chart in a few months we'll
see that the topping began in July, and finally culminated
in the events of the past week.
I've been afraid of this all along. why didn't I say anything?
because I don't yet trust my ability to read these things, and
didn't want to cause a riot with what I thought may have been
a ridiculous read. it may still turn out to be just that,
ridiculous, but at this point there's so much fear that my
comments can hardly increase it.
I'm currently break even on the stock, and not happy. but
learning is hard and takes time. so be it.
would appreciate your comments.
Shahar |
