I think we may still see a re-trace of some sorts.
When we saw the last run from around 8c to 14c from the start of May, we saw 3 days of volumes approaching or over 80m shares, and we then saw a re-trace to sub 12c. While the volumes have been significant on this run, they have not been as significant as the last run (yet), and there still managed to be a solid re-trace then. So I'm not sure you could say with any certainty that too many shares have been traded (80m Friday and 50m today) for there to be too big a base built around 15-15.5 cents.
The next week will be very interesting to watch. I think anything around 14c and I will be buying back in again. Now with the RIO / Chinalco deal falling through, the Chinese will see it as even more important to play a role in any IO projects that are not under the control of the big 3. The Mbalam and surrounding projects are too big to ignore (resource wise).
SDL Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
