sidr
Its very frustrating to toil away for several days pushing towards 42.5c to have it all stripped away in a matter of hours. I agree we could do without the day traders however this last little slip wasn't completely enexpected with the modest trade in dubai so far and possibly some day traders opting out.
If you look at the CTO chart it looks more possitive and that a recovery is in progress, building nicely with higher lows and the ceiling being the 42.5 - 43c mark after the previous up trend was breached. CTO is just so damned unpredictable making it very difficult to trade, the only thing you really bank on is that if POG falls $10 or more CTO will take a dive too, for a week or more, good news is not met with more volumes.
I agree this one is a bit hairy to trade with narrow depths on both bid and sell sides and after some finger burning I'm a buy & hold trader with these guys too, till around the $1 mark where I'll decide what to do next.
Cheers
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