Medinah Minerals (MDMN)

[Medinaminer]

chartists were exactly right during the pre GM

Beth, you've been on campus long enough to also know there are pure chartists who care less about any other factor other than technical analysis and predictions of upward or downward movement based on technical charts.

While I don't consider myself in any way an expert, not even close, I do see some of the most obvious chart patterns and couple the pending events with the patterns in progress. So looking to fundamentals and timing those events with chart patterns makes for a higher probability of predicting direction of trading.

During the recent lows leading to the GM, the inverse head and shoulders pattern was too obvious to ignore, whereupon I made a call to our expert chartist HR to chime in. The signal for an upward movement was clear and unmistakable.

Now we have had the typical retracement from the parabolic highs, as I have commented, and we should see the reversal of the sp from these levels to potentially trade at new higher prices. Whether or not this will be coupled with fundamental news is the question. My best guess now is that today's assay report announcement will be one of the catalysts to incent more buyers to arrive at the trough. Tomorrows trading will be a confirmation of the level of importance traders will assign to the assay report. In addition, if the BOD gives us good news by June 9, then you have a confluence of technical and fundamental news that will be the catalyst we need to see a strong run up of the sp.

My impression is that we are headed up from here. As I have stated, the path of least resistance is up from here. But we both know also that charts are perfect historical reads, but less than perfect in predicting sp action.

And yes, agreed, to have real data would be nice, for a change.