Running discussion on SP, page-4349

Well the probability of s swing up from here is overwhelming in my book if you look at FA and TA together

FA wise
1. Drilling reports a plenty expect for months
2. Metallurgicals in about 2 weeks
3. Prelim Jorc end of June (Run to jorc expected 4-6 week out - starting about now)
4. No Cash worries till end of year
5. Lit sector rising strongly (Tide is flooding back it will lift all boats)
6. JV touted
7. Airguide continues promotion work
8. Drilling ahead and dry season is a upon us


TA wise
1. Heavy heavy support directly beneath us. Support between where we are now down to 9c. See my chart yesterday
2. Inability of Sellers to push it down much yesterday (Finished half tick down "only just" in after market auction) on reducing volume from last down
3. We are well past the 50% retracement level from 38c high now 15.5c.
4. We are in down tern technically but down trends break and given the FA its just a matter of when.

I say a swing/reversal up is highly likely now. You can hold out for lower but it may never come. Ive missed entries on many great stocks by trying to squeeze a extra tick or two that was never there. Countless times.