patterson summary, page-44

HAhaaa!
That was cryptic and funny lol


Good evening all.
I must say its great to see that the reality of reserve ratings has filtered out into the investor community. The entire combined reserve and in gorund resource quantity is 10 times more important than the 1,2 or 3P when negotiating a sale.

Nice market depth too. Some really confident fugures out there with regards to orders and the suddeness of the sell depth thickening up.
The day traders are still all over it and they dont like to risk money for more than 48hrsw tops. You can see they have balanced the depth somewhat and trading liquidity seems to have set in due to us being ASX300 - margin triggers, XT's, conditional orders and recent bulletins between brokers (which i was informed of over the weekend), Newspaper articles from a market guru in the SMH will have received feedback by now.....there is talk on the town to say the least and our numbers should pick up abnormally with any news due to so much discussion and speculation at an increased level.
I expect a minimum of a million shares to be traded daily from now on due to the exposure. We had some negativists and criticism which has been refuted with facts and i can only remind people that there is
"no such thing as bad publicity"...hence building interest levels exist right now IMO.

Lower avge volume today than last weeks - another positive as the volumes are coming from turnover from traders and not modest vol of larger parcel investors dumping.
The Money flow is roaring today according to the intraday indicators- replenishing last weeks bowing down to underpriced buyers. Today it was opposite basically, with less volume and that was the MF indicators with slow volatility.

The tweezer bottom from last 3 days is another excellent indicator of a price reversal. See the 28, 27, 24th of April for the triple tweezer, which is said would trigger a short rally, which it certainly did (about 10cents gain).
Todays compressed trading envelop shows reluctance to sell and some reluctance to buy due to Friday. Trading direction will come from breaking 33 or 38 in the next few days.
The chances of 32c are at best remote IMO becaus we've done more than enough times to test the market in the last 2 mths and mainly because that and it was too cheap according to buyers last week and the test has been sat. So i say anticipate over 40cents by the end of the week.

I think more National Ns/Paper coverage as follow up to the SMH article by the persona "Daytrader".
I EXPECT (i dont often expect so im not disappointed)
a co announcement re some official traffic updates on the open of our SALE inspection data this evening in the USA.
I hope for some fast bites on the sale too.

Pls remember as you consider this post that i am only voicing my opinion on certain facts, my opinion on hunches and my opinoin on rumours.
I hope my signature conveys this.

Cheers,

Lautrec