not going anywhere yet

QBE is trying to go up desperately, but sellers keep coming and taking small losses and again the main force instos are absent.
The good thing about instos being not present is preventing sp from going down more but without buying support from them
there is not much momentum to get them to 23.
There are lots of 47shares or some other small odd orders coming in and out from small traders, now untill this changes and grows to 50,000 or 100,000 orders we will see sp moving only slowly without definite force.
I am still waiting for the big boys to participate into buying before comiting into bigger position and in the meatime just watching the action from the side line and getting ready with the cash.
Small corrections are happening all over the market and I don't believe this is going to be a full blown out correction again but you never know for sure and it is prudent to take it easy and not trying to be a cowboy.
Looking into the weekly chart shows me trend line still intact and stochastic looks good but on daily chart stochastic may need to even out a bit more.
Ultimately as usual the KINGs of WALL street will call the shot and when they do go up again with momentum QBE will go up strongly, so we are in the waiting game and some weaker traders got shaken out as always, hmmm it is a game of nerve
Mid term to long term it is worth hanging on if one has the cash and ignore daily fluctuation as QBE is definitely is a winner, as doing a swing trade it is too much effort for small fluctuation.

Cheers,