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The volume during this correction has been very light, esp compared to the average daily volume during the rally from .75c to over $3 bucks.
Thats a very good sign no matter how you look at it suggest those that brought for the most part did not take the profit & have longer time frames & price exits in mind.
By my charting I'd expect this correction to end very soon & a nice rally to commence at least in the shorter to intermediate terms , but the longer term is looking positive as well.
Yep I know your not a ta'er but what the hey.

Hi JR,

TA?, I leave all that tea leaves and chicken bones stuff to you day traders, <big toothy grin>

Seriously though, my way of picking companies in the first palce is very varied, but is always based firstly upon the product or service that they supply and whether I have a 'feel' for its chance in the future. I also rarely go for the established companies prefering to go for longer odds and then wait. I of course make sure to check the fundemental financial aspects of the company but the kind of chart stuff that you are expert in I find hard to apply. I have read the basics of course but when I look at the existing charts and try and see the patterns I truly am able to read it just about anyway I want. My failing no doubt, but there it is.

The other thing that is also absolutely essential is that I can actually understand, in great detail, what the company is trying to do.This approach sets me up for a great deal of research before I buy into a new company or area of commerce. The Biotech industry is extremely difficult in this regard, particularly when your research on a company starts to take you down to the human cell level for instance, but thats me, got to pull the back off of every new toy and see if I can figure out how it works.

OK... NRT. I do take comfort in what you say on this company because whatever else I think about TA I have to believe that you know what you are talking about after having read this board for so long now. It is true that the large majority of the core holders have not been shaken in their belief on this company. The story and the technology (particularly when you get down to the drug cell level) is absolutely world class and Australia has a company here that is going to make them proud in the future (as well as make a few bob in the process I believe).

As you will already know the company has two distinct but technologically connected divisions. Drugs and over-the-counter (OTC) men and womens products. The drug trials in both Oz and the USA are proceeding very well and on time. Thats a huge story in itself.

The OTC womens products have just this very week been handed a HUGE potential shot in the arm with the recent prematurely abandoned American drug trial on Hormone Replacement Therapy (HRT). The administering authorities cut short the trial involving thousands of women taking HRT long term, because of extremely worrying increases in the chance of developing breast cancer and heart disease among other things.

Wyeth (formally American Home Products) who are the largest supplier of HRT in the states, dropped 23% last Wednesday alone, that was more than 16 Billion US Dollars wiped off their Market Cap in one day, when this report was published.

Novogen are the world leaders in Isoflavone technology and and are by far the best clinically trialled in this regard. They have been very quick off the mark to take advantage of this body blow to HRT. They have already actioned a plan to bombard every pharmacist, doctor, womens health group, health press and many more, to push the message that the viable "natural" alternative is ready and on the shelves. The company has been inundated with enquiries about their products in the last few days. It is a very positive sign for the future on the OTC products side.

If anyone wants to get a bit more info then go to

The rest of this Novogen site is a revelation if you have the time and inclination to read it. I am among friends here I think and so you know that I am not "pumping" this stock. It is a pharmaceutical company and the clinical trials will take time to prove the various drugs that they have, but in the meantime I believe that this latest HRT news will provide them with a shot in the arm for the products that are actually generating revenue right now.

Huge revenue in the future is good, increased revenue in the present is even better.

Oh dear........there I go again, probably too much information on a pet subject. Sorry JR....but you did start me off again.


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