There are more people coming to the party. Until all this goes...

There are more people coming to the party. Until all this goes away, MEL will see limited upside. Only the absolute true believers are buyers at the moment. However for MEL to move higher, you need new buyers. They will be far and few with all the issues going on.

The true believers who are convinced more by profit then actual activity have already purchased and so create no upside benefit.

When the community reduces it pressure on MEL, or they find a new issue to carry on about, then there may be further upside. No point buying on hope and holding for months or years for a result. Rather buy on the uptrend, lose a little bit of price but cut my exposure buy months or years. Exposure in this market can be dangerous.

And no I am not trying to buy these, I won't touch them until a clear uptrend is established. If they are as great as everything keeps predicting, then the uptrend should last well long enough to jump on and still get a risk reduced grab.

Uptrends have to fight fear and gravity, downtrends have gravity in their favour. No point fighting the downtrend with hope.

Here are the new group having a go now. Some professional people starting to speak out now. The first link refers to the former CSIRO head scientist.

http://sj.farmonline.com.au/news/nationalrural/agribusiness-and-general/general/csg-investment-folly/2633950.aspx

http://indymedia.org.au/2012/09/08/csiro-makes-lies-of-coal-seam-gas-industrys-safety-claims

http://www.stoppilligacoalseamgas.com.au/?p=1766