Monday, December 05, 2005 8:06:57 PM
Although I find charting a tool to the overall part of investing an invaluable asset,but when it comes to penny stocks, I generally never put much emphasis in charting..
The penny arcade is a manipulated venue by MMs and all the charting would not change the outcome positive or negative..Charts work well on issues that have solid fundamentals based on past histories through mathematical formulas and volume that stipulates supply verses demand..These statistics have all been proven to make sense,but in penny stocks they only show the very current data and this data is based solely at the discretion of manipulated trading practices of Market Makers,thus giving an illusion with a hopeful outcome only to be falsely duped at the whims of MMs.
Yes one can see these stats,but they never hold a true picture..
So many times in this venue one strong PR will soar an issue just based on demand,thus the volume creating demand and squeezing the MMs and no chart can assume that direction north or south at any given time.
However,I do find your ability to chart and knowledge a contribute and I wish you much success.
Have a good day
Varok
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