a traders perspective, chart direction, page-10

Reichman that is a very good observation and I will explain my actions here the best I can.

Firstly I purchased at .2 and more at .24 you know the current price. The particular stock mentioned I would see as a hold, the chart I posted shows OBV (on balance volume) as accumulating. Production starts within weeks and some positive anns due out I would say very soon.


You will note though post their presentation on the 30th the stock ran very strongly on high volume for a couple of days. Then on the 3rd I noted a stall and fall in volume and sold half. Today I noted that had opened on yesterdays low and traded down, this was further short term bearish.

I was posting warning of this so that other traders espcially "Johno" would be aware a short term top had been formed, however did not want to make it too much a negative deal as remain overall bullish on this stock overall. I exited and posted a buy order at same time at a lower price, if you read through my sentiment I was indicating that price was going to retest support.

Though very short term; I could see a falter in the price, I did not want to spook long termers out of their position as I have every intention of re entering.

I hope this explains, my intention was to indicate to short term traders caution, and yet for long termers to keep their positions.

Compare the two charts and maybe you will see why I am bearish here even longer term at present yet bullish on the other stock. Basically what I have done is taken profit and plan to re enter and already have my order in. It may cost me if an ann comes out in the mean time.

I had 200,000 shares in the stock all told, and it paid off really well in a short period.