Forum Archive Index - February 2002

["nick" <helmett@xtra.co.nz>]

          Interesting, i bought at the exact spot you have as a sell area.
The reasons i have already stated, ie dividend date coming up combined with
a float of havilah around the corner. At the time you were saying there was
a great deal of selling pressure and that amateurs were buying from the
professionals.
  Yet a few days later millions of dollars worth of shares were changing
hands in the runnup to todays dividend date.  Your chart then cosiders the
stock a buy when it briefly breaks above the resistance at.85.
       What this means is that your chart shows a buy at the highest price
of the last few weeks,  Surely a review of the fundamentals a week ago would
of resulted in a much better priced entry.
At the time you were pointing to market depth as a sign that all was not
well. Fact is market depth is very misleading,  most the buyers were doing
just that, buying. By placing at market orders which dont show up on the
depth, while the sellers were sitting waiting in anticipation of a price
rise. Depth is also manipulated in other ways, by strategically placed
orders which the placer has no intention of being executed, but are designed
to create a certain impression which they can use to their advantage.
      Monday will be interesting, now the buyers have secured the dividend
the buying may dry up. However the volume ha been huge and it will be
interesting to see who the big buyers are. There was one big seller over the
week, portfolio partners, hopefully they are now out.

  Nick, Ratkin, Paul ,Vlad and Trigger the cat


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