ZNext Mining Corporation, Inc (ZNXT)

[janice shell]

after all, charting has been used for over a hundred years.

No it hasn't, at least in this country. A primitive form of technical analysis was invented back in the 1920s by Jesse Livermore. Actual charting, however, presented problems because before everyone had computers it had to be done by hand. The result was charts that offered only rudimentary information. It was possible to calculate moving averages and fibonacci and the like, but not too many retail investors spent time on that. One form of charting that could be done by hand with relative ease was point and figure. It's sort of fun, but not many people use it.

Japanese candles were invented long before western charting systems. They were first used in the seventeenth century in connection with futures contracts. As with point and figure, candles are fairly easy to do by hand.

BUT...in order for charting to be consistently useful, you need statistically significant data. Many people argue that since most penny stocks are thinly traded in terms of dollar volume, charting them isn't much help.