ISA.TO - A Play on Market Depth
posted Feb 24, 2004 at 07:10PM
A buy not really based on the charts. Stochastics set-up is nice and there is a bullish candle formation that formed today. But bearish trendline break and MACD cross are fully evident.
There is however a HUGE pile of bids which have accumulated at the 2.90 level and they can provide a nice safety net. If these bids get eaten into (or if they "disappear") by continued selling pressure - then I will bail for a minor loss. At current volume levels that would take awhile, and in the meantime one is exposed to any resurgence in buying interest or "out of the blue" news.