CEOChair, to be fair DLS still hasn't really passed above that resistance.
What I said about DLS was that there was significant selling at the 1.60ish level, of which their clearly is. That does not mean it can't go up. Would I didn't clarify is that a period of sideways action will help clear out that selling for a move upwards. Sideways action can also mean a period of propping up while selling happens only for a downtrend to start when that support is removed once selling is complete. Remember I had a plan for re-entry but it didn't happen, o well, these things they happen.
This is why I'm in SXY, It hasn't reach my target or my stop loss, I suspect a bit more sideways action is going to take place. It had an entry point I was somewhat happy with (not as good as DLS did though).
I do find it difficult that a downtrend will happen with Cooper Basin stocks, as the interest in Cooper Basin seems to be increasing and I don't think we've hit the climax of irrational buying at all. Hence why I'm floating around CB stocks.
SXY Price at posting:
80.0¢ Sentiment: Hold Disclosure: Held
