Memorial Archives

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.

Bullet Bullet Bullet