Jake, thanks. Hotfire and I were discussing it yesterday and we had our target at around 1.20. However, my experience with ARI is that it always over-reaches.
Not the prettiest H&S pattern (and hence may not play out) but with GS most likely shorting those borrowed shares over recent weeks I think the forces of evil are at play here and I doubt they'll stuff this up unless IO spot recovers sharply or the A$ falls much lower.
I took a good trade on this yesterday but have to admit to being very touchy. When it burns me it really burns.
From the 2nd of Dec to now shorts have risen from 16million to 21million. Not a linear rise and they have been all over the shop but they are increasing.
Bones, are you out there for one of your short charts?
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