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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad -- Ignore unavailable to you. Want to Upgrade?

To: Cush who wrote (1949)	4/8/2001 9:31:08 PM
From: Davy Crockett	Read Replies (1) \| Respond to of 5144

Well I finally took a (small) position on Friday on MCL.to Daily chart of MCL on the TSE stockcharts.com[w,a]dicayymy[dc][pc4!c9!c18!c200!h.02,.20!c50!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14] As most of you are aware, I have been watching MCL closely the last couple of weeks... so now I have a bias FWIW. Positives: ADX appears to be ready to cross 20, +D1 over -D1 (-D1 just crossed under the ADX). Last 7 candle sticks are kind of interesting, SAR trending up albight not as parabolic as the last move up. Price above all moving averages & indeed bounced off the 50 day ema 4 bars ago, volume accelerating as price moves incrementally higher. Macd above 0 & histogram looking good, Slo Stoc about to cross over @52 & RSI registering higher highs. Negatives: CMF Anybody care to comment about pattern(s) in this chart? Weekly chart: stockcharts.com[w,a]wicayymy[df][pc4!c9!c18!c200!h.02,.20!c50!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14] Positives: +D1 over the -D1, ADX heading south, price above all moving averages except the 200 ema, RSI trending higher.. Negatives: declining volume, Macd histogram flatlined & Macd is giving no hint as to which way this will go.. although it is above .50, Ditto for Slo stoc, Based on the nice daily chart, & the inconclusive Weekly chart I decided to buy on Friday & put in a stop around 5.50 (the last column of o's in the PnF chart. Just in case I am wrong. (which is usually the case LOL) stockcharts.com I might be a little too early (which is why I purchased a small amount initially), but ideally I would like to see that long term trend-line taken out around the $7.50 area. Regards, Peter