Norra Metals Corp V.NORA.H

RE: T/A and Juniors

[caffee]

Hi guys We all seem to agree on the majority of juniors not being good candidates for TA. I hear what your saying Matt about an earlier experience. Juniors are very volatile and many can produce big losses as well as big gains. After having chose Orko for many fundamental type reasons, it is interesting to look at some TA stuff which might apply. This week, the idea of Orko holding onto the .95 level and closing consistently above that would be a very nice indicator of future strength. New support at it's former resistance level would be an outstanding achievement this week, should that happen. While we all agree that charting juniors is not ideal, there are other interesting things such as the million plus volume days which occur with significant frequency since December '06. So in other words.....this rise is for real and done on a broad market participation. I would be very surprised if we didn't take on $1.50 by mid summer. Ninelives, My 2 cents for what it's worth on Dow...... I don't follow the Dow but a very quick look at it suggests a couple of things. Firstly, MHO is that TA is personalized to each person. What I mean is that let's say in Canada, an accredited TA person who also teaches it at the CSC in Toronto and writes TA articles for Toronto Star, has his own ideas on what is important in his TA. He appears to have much more experience than I do , however I don't believe he is often correct and has in fact missed more often than not. One of the weaknesses he consistently shows is his failure to start from the longest term charts with slowest periods....ie. monthly and weekly and move inwards to short term. JMHO So, anyway, if someone started long term with slow charts,......the Dow looks pretty healthy at moment. Well above it's 50dma and 200dma.( on weekly multi year chart ) One bounce off near the 50dma this year and going for a try at 12750. It could be a point where it sputters...resistance probably will be significant and fundamentally, earnings don't seem to be expanding to support new optimistic views. A failure to overcome this resistance would form a double top and be the end of this short term rally which started from aprox. 12000 level in 2007. On the short term basis...daily charts, it is quickly approaching overbought range in RSI ( which can be quite reliable in short term ) It is not trending right this moment, so Stachastics view would be a valid oscillator to use and that is overbought. In summary, both your aquaintances are probably correct that short term it is reaching an exhaustion of the current rally. At what point? Not sure, but is overbought and running on fumes IMHO. How it will go from here? Well the corrective short term reaction could be slow and work off the overbought condition by treading water for a while and consolidating its gains from 12000. Or could have sharper corrective action similar to March. There are interventional forces at work in this index IMHO, so steep or prolonged declines will not likely happen in 2007 unless something weird happens. JMHO