r u ready to join $1 party?, page-15

Well we hav witnessed a powerful move this morning...1stly the final capitulation (ie..panic selling) of the weaker holders down to 57.5 and the full on bull rush to pick up cheap shares... This has signalled to me the beginning of a new upleg may have begun. There remains some key tests before we can confirm this. These tests are as follows

1. A break of the short term downtrend (on intraday chart) that has been inplace since the 12 mth high. Currently I put that at 66.5c but that number is falling as time goes by

2. A break above previous resistance @ 70c to 70.5c.

3. A re-test of the recent high 73.5c ...it may take a few attempts to break.

So I would also like to see a consistent build up of buyers vs Sellers in the queue so that buyers strongly outnumber sellers about the time we are attempting a new high.


So 1st things 1st ...A break above, and hold at, 66.5c

Now this may take a few days to play out or may even happen today ...who knows?