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GLB $1.20

serious trouble.

  1. I'm not a holder of GLB but have looked once or twice at the chart and most definitely NOT liked what I have seen.

    For the record, it appears to trade perfectly to technicals but is probably the most negative chart I have ever seen in many years of charting.

    By this I mean GLB is one of the very few stocks that I have run across that in the various shocks it has suffered has always used technical levels to open beneath as resistances rather than supports .

    The reason for this post is merely to note that according to my chart GLB has no supports/resistances left and I would take that to mean it has no future either.

    Don't know why but I suspect this one might not be around on the bourse for long - least that's what I reckon the market is telling me.

    As usual this is entirely imo.

    To have a look at what I mean take the complete trading data of GLB using the low of $1.41 on the 7/6/01 and the absolute high of $2.50 on the 15/12/01 and run a fib chart over the extremes of the daily barchart.

    Cheers,

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