Replies to post #11 on Ahh Canada - 2 out of 3 ain't bad

[Cush]

Hi Dreamer. Nice to see you here.

Yes, I've got painful memories of Infowave, too.
Closed at 10 cents today.

If I gained anything from that experience it was to believe the charts.

Here's an example of something that I'm seeing in a lot of charts. I'm using Nortel. Staying out (or getting out) of some stocks is like dodging a bullet. In Nortel's case, it was like dodging a bomb. My guess, there are more than a few investors in Canada who didn't survive this one.

Note on Nortel's chart, the DMI lines at the top.
As I read them, the -DI line reflects selling pressure, the +DI line, buying pressure.

In a lot of cases right now, the +DI line is dead.

Graphic evidence that there are few or no buyers in this market.

Nortel Daily



Otherwise, this is a somewhat hopeful chart.

Stochastic down in the Oversold Zone
and the MACD histogram improving.

The -DI has dropped below the ADX.

Worth watching.

I do not have a position here.

Cush