Evidence based speculation, page-93

There are a few of us long term holders who can't resist a further nibble if the price drifts down to 15 cents.It's then hard to get much volume.Remember that there is a large player who knows the ropes of trading,knows the industry,has plenty of the all and ready,and can only buy in dribbles before triggering a take-over event.

As far as the descending triangle is concerned,the valid point has been made that the volume has been too low for the chart formation to be meaningful.

The belief that this is a bearish formation is carried over from Edwards and Magee's classic text on chart formations.It was, and still is a great book, however time and again it can be shown that the outcome of a chart formation is a probability function dependent on other things such as market conditions.

My chief talent is boring the socks off people talking about such minutiae, so I won't ,but just state that in a market dominated by bearish sentiment, a descending triangle or wedge for that matter can be a springboard for a large bull move and is a chance to accumulate for wiley /risk tolerant market operators.

For those who accumulate,the fundamentals are alluring.There is still a great deal of uncertainty here and the risk adverse will certainly not want to invest,however for the risk tolerant,this is the ideal situation where a large fortune can be made! Midnight has referred to some of these examples in earlier threads.The common denominator is that the market information was out there for some time enabling a position to be taken while the SP languished.

Fortune comes to the informed
Asculpeous