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Gold/Mining/Energy : Altair Nanotechnologies
ALTI 4.700-1.7%Dec 26 9:30 AM EST
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To: JIM W who wrote (556)2/5/1999 3:36:00 AM
From: John S. Baker  Read Replies (1) of 603
 
This response is an attempt to address the narrow issue of whether there is a pump-and-dump going on ... regardless of whether you, I or Mark Skousen think the company has potential value.

This chart is very interesting:

209.67.221.61

The lower chart is a running total of the technical indicator Money Flow Index (MFI). MFI measures the net flow of money into or out of a stock and thus is believed to indicate whether a stock is under accumulation or distribution. Looking at this chart, it would suggest steady accumulation since late August, 1998 ... which is good.

But if we zoom in on that chart to show only the last month:

209.67.221.61

It sure does look as if somebody disposed of some stock on February 3rd, as there is a significant net MFI decline on that day ... which is bad.

Reckon this chart bears close watching.

(Incidentally, the red bars on the upper chart depict the (relative) number of transactions which occurred at a given price. Put another way, it shows how many people are in the stock at that price. Thus looking at the 12-month chart, it suggests that there is strong support in the $7-10 range, and virtually no resistance above $10 ... which is a good sign.)

Alternative interpretations welcomed.

JSb.
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