The Big Boys, page-18

Thanks gj0201. I appreciate the follow up with some further analysis. I'm looking at these charts on my phone so may miss a little of the analysis but will have a look later on the big screen. Some thoughts though.

You volume chart is really interesting. I'm trying to think about it from first principals. Most funds wouldn't hold back to 2004 as shown and it doesn't tell you if the volume was coming from current holders. But fair enough, those points are where the most trading has been. I had $12.50 marked as the first resistance point where I might close my put option and then look for another entry. That's fascinating to me that your volume chart has picked that level. I don't think my software allows me to do that graph but I might explore further.

As for pitchforks I've never explored them mainly because I have enough of those sort of tools in my toolkit. Also because I've seen on hotcopper people apply them without much discipline. So they run it between only two points and after the fact of where it turned. But your charts are interesting. Again the pitchforks pick up that $12.50 level, where if it falls and at a consistent rate it will intersect your forks at about $12.50.

Thanks. Some good stuff coming through. The market is going to tell us in due course though how good our analysis is.