chart..., page-85

Another load of fake bids on the closing auction. Closed on the low and the support looks around 2c.

I think this is going back to 2c in the morning and maybe lower the down trend will continue and I think we should find support around the 1.8c level. Annoyed with myself not to of made some decent profits on the way up.

I traded the FTSE when I lived in the UK and now the ASX for the last 7 years. I think its taken me around 5 years not to be burnt by spec stocks. I have had some very expensive lessons in the early years believe me. In my early trading days I wouldn't really do much research I would follow the crowd on the forums the top 10 talked about stocks the ones going to the moon , fool me this was an easy way to lose lots of cash. YRR had a good story I got in last week at 1.7c and 1.6c very good entry points and the stock peaked up to 2c I thought to myself I would put in a stop loss at 1.8c make some money still if this has a reversal. I was very unlucky as the reversal was hit by a spike. Many traders wouldn't use such tight stop losses but I felt YRR was volatile and didn't want to be sitting at 1.3/1.4c for months waiting for my money back.

I should of entered the stock at 2c and rode it up but then it spiked to 2.3 and I was very nervous of it dropping again, the continued ride to nearly 2.9c and then people started taking profits easy money has been made this week by a lot of people mainly day traders and swing traders.

But the question is how many people bought at 2.7/2.8/2.9c and read the bull shit sorry Kelsie about it going to 8c /10c the moon on no news just some initial grades of Vanadium. In my early days I would of got all excited and maybe bought in the higher levels , also the people who held the stock all the way down from 2.9c to 2.2 and will still hold all the way down to 1.8c because they are too stubborn to admit they are wrong ( Will call themselves long term holders when they hit the red as they want to justify to themselves they were right )

Guys I wasn't down ramping today I was putting my perspective forward and some holders don't like that they want rainbow and sunshine all the way to a dollar, but if the market was that easy we would all be very rich.

YRR good story , could have a decent deposit of Vanadium but this is the start of the journey

1.7/1.8c a good base to start until next set of news. I could be completely wrong and the buyers all come flooding back but when the tide changes a lot of the buyers get washed out to sea and move on to calmer waters.

GLA.

James