Well, there's your opportunity. Congrats if you can pull it off, really.
I have no idea about price direction. But I'm not a bit worried either. While there is high volatility, sophisticated traders will flock to it with their API systems.
I've just been watching an interview at the San francisco conference. It is pretty hard to imagine that all those smart guys are totally wrong.
I've been a market student for a long time, which is another way of saying I've been a human psychology student for a long time. There is just no accounting for why people buy and sell, millions of reason that are changing continuously. Automated very fast trading has multiplied the reasons infinitely.
When I trade on the ASX now, I often see one trade initiate a flurry of activity involving price quotes that are off screen. I don't believe that you can blanket a market with a phrase like 'profit taking'. Its the journalist's way of saying they don't have a clue.
MEJ Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held