Peter & Ian Barnes
30/01/2007 3:26:23 PM

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G'day Derek,
I'm in this one also, actually have quite a few of them from average 44c (this time round). Have been very confident in them, and believe they should really fly. However, you're right, first thing they have to do is get past this first hurdle - which it seems to be struggling to do unfortunately. That divergence on the MACDand RSI (blue) scares the crap out of me too.... but that can be negated yet.
Fingers crossed it can break out of that pennant (yellow).


Disclaimer: The above mentioned information is my opinion only, and NOT to be taken as advice as i am NOT a licensed advisor. Caveat emptor.

Feel free to visit my non profit site where I post some of my ideas on charting, and try to pass on some of what i've learned over the years.

My time frame is "as long as it takes"

Derek Morgan
30/01/2007 3:39:45 PM

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Hi Ian,

I actually give more wieght to divergence on the MACD histogram, on the daily chart is positive to the upside as is the case on the hourly chart. It looks like a similar set-up to the spike of 73% starting prior to Xmas. In addition there is divergence from Dec to now as well. Looking for the Daily MACD to cross up similar to 27 December.