this very basic chart tells the story. Shoulda considered this...

this very basic chart tells the story. Shoulda considered this the other day in hindsight. Everytime I have been involved in a bullish spec stock the chart ALWAYS looks a bit like this. That is to say the MA is rising. Bullish buyers drive the sp to the upside but the sp always returns to the MA line before the next break. In this case, however, we have a minor breach which on the surface isn't good. But the 2 possible underlying reasons could be bad news we don't know about (unlikely) or most likely T+3 sellers near close yesterday.

consider the facts, sell down comes 3 days after the AGM when there is disappointment at no big ann. or presetation. Also selling occurs 15 min b4 close. The simplest explanation is most often the correct one


My guess is that mr [email protected] is either scared or trying to scare. Either way I'm thinking he will disappear b4 open. I am guessing a quick return to 7.8c which coincides with the MA line. Hopefully then that elusive news will come in time for the next break.

So Burnett, you have picked a good day to buy I think.

img src="http://i104.photobucket.com/albums/m181/patlong_2006/gsf.gif">