News Focus
News Focus
icon url

ContentedTrader

03/21/08 12:00 PM

#2696 RE: Ericus #2693

http://stockcharts.com/h-sc/ui?s=GPXM&p=W&yr=0&mn=11&dy=0&id=p10341579093

Ericus, the reason your indicators do not look good is because this stock has been in an established downtrend since last May (lower highs, lower lows) The methods you use are all false gods and FOLLOW price and volume.

95% of TA is BS pure and simple. I had to go through a number of years of it to learn that.

If you are trying to pick a bottom, look for how the week ended up (higher or lower than the open) and check the volume.

Look at the volume TREND in the last 11 months. You can draw a simple ruler line and see the trend is down...lower volume, less interest.

I will go at it with you on any chart, but a small exploration and start up like GPXM is not a good one to do TA on. One guy....just one trader can control the flow quite easily ( at least for a time)