Forum Archive Index - February 2003

["Allan Potts" <ajp7079@excite.com>]

Thank you Phaedrus.  I knew when $7.00 was violated we were in trouble, but, 
WOW, did they find snakes in the shelves or what.

Actually with Tyson you should expect to have your ear bitten off; come to 
think of it that's exactly what WHS did today.

Thanks again Allan.




 --- On Tue 02/04, Phaedrus < Phaedrus@techemail.com > wrote:
From: Phaedrus [mailto: Phaedrus@techemail.com]
To: Sharechat@sharechat.co.nz
Date: Tue, 4 Feb 2003 14:57:46 -0800 (PST)
Subject: [sharechat] WHS Chart

Allan, 
      I can't tell you whether todays drop is justified or not, but I can tell 
you that it is significant. Price action has plunged through the $7.00 support 
level which had held for months. As I have mentioned previously, significant 
support/resistance levels are often found at whole numbers. That's why your 
stops should be set just below a round figure, never at one.

Rory,
     You shouldn't have been totally blindsided by this - WHS is, after all, in 
medium-term downtrend, and has been for about 8 months. It has also been in a 
short-term downtrend for about 2 weeks. This is simply a continuation (and 
acceleration) of these existing trends. The magnitude of the move is 
surprising, though. There was a trendline break Sell signal about six months 
ago.
        Regards,
                Phaedrus.
PS:- Shouldn't you expect left hand jabs from Mike Tyson? (Perhaps I am 
revealing my lack of boxing knowledge here!)

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