Must admit that I thought the shorts had control again the day after the finance announcement, when I commented that we need new buyers coming in to sustain the rise. Looks like the new buyers are here, just without the solid news (publicly available news anyway) I was expecting would be required.
Also interesting to note that the last time we got to this level was only on the ASX following the weekend rumours of a TO. This was never backed up with action on the NAS. Now the NAS has taken the lead into fresh territory on high volume and closing high in the bars, which is very bullish behaviour.
Whilst I don't want to get carried away and jinx things, this is certainly the most comfortable I have been as a holder. Fully loaded, in the black, downside risk almost gone (can't wait until the Talbot case goes away), and bullish action to the upside. Not prepared to speculate how high we will end up, just happy to be along for the ride.
UNS Price at posting:
$1.00 Sentiment: LT Buy Disclosure: Held
