Garry, I wouldn't be underestimating charting analisys. I'm not saying I'm an expert in it, but imo chart is a reflection of people's emotions about a stock. It's not just simple lines and numbers. It's a mirror into people's feelings, anguish, frustration, emotions. Sharemarket is based on gambling, let's face it. And as in all gambling there are no winners without losers. There are certain correlations in human behavioural patterns. And it's been proven that certain things happen with stocks when they go up and when they go down. And it's all based on human emotions more then anything to do with the stock itself. Let's face it. Nothing really changed with VIL in the past 2 weeks, but the SP almost halved. Has VIL's rise, and then subsequent fall been based on real facts. Probably not, mostly on people's feelings about it. First full elation then total dispair. What about VIL itself? They are still drilling something. I haven't even read the report yet. It doesn't matter as such atm. I reckon VIL is grossly oversold. I don't expect it to go back to 4c but a reasonable bounce from these levels is probable. Can it go down to 1.6c? It certainly can. And if it will I'll buy more. You have to be in it to win it. Things can not go down forever. There's always a bottom somewhere. the trick is not to have a position which becomes overbearing, and to which you can not afford to add when you need to. that comes down to cash management more then anything. Trying to catch a 10 bagger, and not taking profits when you could is the main reason why people lose money. Maybe one in a thousend will be lucky and his stock will go in straight line all the way up and he will make $1mil out of a $10k. It's pipe dream. Better buy lotto instead.
VIL Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
