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[sharechat] POA Chart


From: Phaedrus <Phaedrus@techemail.com>
Date: Sat, 28 Jun 2003 18:15:56 -0700 (PDT)


 Heavy insider trading just before announcements shows up quite clearly on 
charts. It is characterised by :-
(1) An unusually large jump in the Opening price.
(2) Continued buying pressure throughout the day resulting in an even higher 
Close.
(3) Unusually large volumes being transacted.

 Before we get into conspiracy theories and decide that dodgy dealing has taken 
place here, let's examine the facts.

(1) There was NOT an unusually large jump in the Opening price - I have marked 
days that had larger increases with red arrows. This rise was therefore quite 
unexceptional.
(2) The day in question (23/6/03) was marked by a "four-price Doji". This is 
when the Open, Close, High and Low are all the same, representing total 
uncertainty among both buyers and sellers as to market direction. In other 
words, buyers and sellers are exactly equally matched - there was insufficient 
buying pressure to raise the price above the Open, at any point, all day.
(3) Volume (Marked by Magenta arrow) was quite unexceptional. Who bought up 
big? - Nobody.

 There is no evidence here to support the claim that there has been insider 
trading.

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