CVN Chart, page-304

To be fair, and you'd be aware of my thoughts on the uselessness of T/A for oil explorers in the normal course of drilling... The giddy aftermath of a discovery is actually one of the few times I advocate using it to maximise profit. I've often said T/A can work when enough people in the market are following T/A rules. In the aftermath of a discovery when people with no idea of the fundamentals are buying in purely on momentum they can have quite an effect.

F/A is the reason you can buy low and pick a winner, T/A can help you know what rules a portion of the market is using to guide their activity and therefore anticipate their movements in the froth of positive sentiment as it gets untethered from fundamentals (remember the market doesn't actually have enough information on the discovery so far to value it properly).

I'd have busted H00ts up all day a few weeks ago predicting anything past target depth but I'd give him his moment now.