yes I think volume tapering is a bit of a stretch, still higher...

yes I think volume tapering is a bit of a stretch, still higher than anything else in the last six months bar yesterday ;)

RSI on the daily is looking overbought so I would expect (as allways with VPE) a retrace soon. Possibly not tomorrow as it was a strong day today, but won't be too long IMO, one or two more down days for the market as a whole should get people offloading, hopefully 30c will hold as support...

Weekly and monthly charts both look quite good. My gut feeling is the market in general is going to take a dive, but VPE was the only stock I had through the GFC that went up, so I'm hesitant to sell any just yet... if they reach 40 odd cents and the weekly starts looking overbought I will probably offload some.

I figure the catalyst for this move is the announcement of maiden profit... profit next year is unlikely to be any higher due to a similar 6 months of non-production from the cooper, I could be way off and it might be the CSG that is getting the price moving, but I suspect that it is temporary excitement once more, and we have a way to go yet before we see sustained growth in VPE's share price.

I made the call to sell around the 42c mark last year (with the intention to buy back in around 30c) and was told I was making a mistake.. I sold (some not all) and bought back in via the rights issue and excercised options at 25c... in hind sight I should have waited a bit longer, not buying the rights issue, but I ended up with an increase in my holdings of around 15,000 shares (for the same overall outlay) and the money I spent on the rights issue went towards keeping the company going.

It's too early to make a call yet, but I won't be at all suprised to see the sp peak followed by another return to the low 30's. I've been a VPE holder for 5 years, and although things are markedly different now, some things just seem to stay the same ;)

Tony.