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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (2154)	11/20/1999 2:57:00 AM
From: TheBusDriver	Respond to of 5053

Keith Thanks for the chart update. You are getting pretty fancy! I am not surprised at the resistance at $1.4. If you look back a bit on the chart you will see we bottomed in the .70 range and accumulation to .75 is a factor here. This gives these people a double. hence the resistance. Now assuming a lot of "you guys" were also buying here, and from what I see on the thread a lot of the "regulars" did accumulate in this range (I did not enter until the around $1.09). Assuming the above named thread investors are strong hands (at least they claim to be) we need to figure how many shares were accumulated by weak hands or traders. Just on a gut level lets say the strong hands on this thread (and other threads like stockhouse) account for 20% of the volume in this price range (.7 - .75). If we add up the total volume from this trading range, discount by the % of strong hand on the thread, we will know about how many shares it will take to break down the resistance. If we assume 60%-70% of the weak hands will sell out for a double then we should get a good idea when a break out is going to occur. The wild card is news. It always changes fundamentals. I have to say from personal experience that the longer the uptrend ahead of news the more chance we have for strong action after the news. This can often be to the downside because the investor/speculator develops such high expectations while waiting that it takes something really special to keep the momentum positive. There is also the sell the news mentality. Technically we can break out ahead of news and the above prediction would be helpful then. With news all bets are off as anything can happen. Of course I am betting on killer news that will shake everyone up....something more than $2/share. If we don't get that I think we will do some serious testing of support levels and probably break some of those down. Does any of this make sense? Wayne

To: keith massey who wrote (2154)	11/20/1999 3:13:00 PM
From: TheBusDriver	Read Replies (1) \| Respond to of 5053

Just checking out stockwatch and using a calculator it looks like around 3.25M shares traded between .7-.75 from Aug. to Oct. this year. It also appears, and this was hard to estimate, that around 1.75M shares have changed hands in or near resistance at 1.40. If we figure 20% of the 3.25M is strong hands, then that leaves 2.6M in weak hands. If 70% take a double, then 1.82M will need to change hands. It looks like we had done close to this number at 1.75M as best I can figure. So we could break out of resistance any time! All it will take is a small rally and bingo! I know this is completely full of holes but it was fun doing it, nothing else to do while working the weekend<grin> Wayne