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Worden Discussion Forum » General Discussions » Stock and Market Talk » wlk on Bonanza template

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moakhavi
Posted : Friday, January 11, 2008 2:07:22 PM
Registered User
Joined: 9/13/2006
Posts: 143
 Apsll
How do you read this on your template. Volume is definitely pickin up, Money stream is not there yet, but it will probably be after todays' price and volume action.
Thanks Moe
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Apsll
Posted : Friday, January 11, 2008 3:09:36 PM

Registered User
Joined: 3/21/2006
Posts: 4,308
 Moe, Bonanza bottom is more of a trend following system so I will give you my opinion using my favorite trend following indicator Stochastic. In my chart you will see that although there has been moments of accumulation highlighted in pink, the trend is still moving down. This could be the start of a bottom but one never knows. Stochastic is still in the bottom region (below 20).

Look to BLDP for a good example of a Bonanza Bottom about ready to bloom (IMO). WLK kind of looks like BLDP did back in June of 2007 Scroll back to that time frame and zoom in (BLDP) watch the action with BOP, Volume and Stochastic as you scroll foward one day at a time. When you see this happen with WLK we will trade it together.

All just one mans opinion..

Apsll
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