Tomorrow should be an interesting day, which is code for "I have even less idea than usual".
On the plus side:
It looks like the markets are less interested in Italy than Greece. Maybe Italy has more assets to strip. Any way, Dow's gone positive and the European markets have improved markedly. Things could change while we're asleep, mind. So it looks like tomorrow will be a flat-to-green day. Gold's bounced back too. Which means we'll hopefully have the "right kind of disaster" instead of the "wrong kind of disaster".
(The right mind of disaster is the kind where everything tanks except gold/mining shares).
Resistance held at 10c and we only dropped two ticks, though that is 8% boys and girls. Still for what should have been disaster day, volumes were middling and the downward pressure not too schocking.
On the neutral/minus side:
Technically we've broken the ascending triangle- to be honest with you I felt this happened a few days ago and today was possibly a 38% retracement for the fibonacci fans (I'm not sure if I'm a fib fan if for no other reason than I'm not sure how to spell it). That's measured from the 5.6c low to the 12.5c high. (Actually that might be a good thing as it's a potential turnaround point.)
And tomorrow is Friday so potential buyers may instead close out, go to the pub, and see what disasters Europe has planned for the weekend.
Personally, on balance, I'm feeling slightly positive. Short term I wouldn't buy but I would hold.
AVB Price at posting:
10.5¢ Sentiment: LT Buy Disclosure: Held
