Telco 9/5/00

Telco 9/5/00

Here is a 5 minute intraday chart of Telco Australia showing the market action from midday 8 May to end of 9 May.

You will note that it topped at 76 cents at approximated 11.30am and also that from 2.30pm the day before, an uptrend developed. What was interesting to see here was that Telco made its 3rd Quarter profit announcement to the market literally minutes before the stock topped at 76 cents. In fact it was at 11.40am according to Bourse Data.

As you would expect, the news was good with Revenue up $76 million and profits up $1.34 million. Of course the trend reversed at the time of the announcement and has continued to fall since, to time of writing. Isn't it interesting how the market knows in advance that good news is coming !!

(Practical application of Dow theory)

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