Looks way too early for profit taking to me but who knows....

Looks way too early for profit taking to me but who knows. There's always some luck involved in timing. They say don't try and catch the falling knife and that was good advice over recent months for LTP. When should you buy then? I think when the selling has slowed enough, downside momentum has slowed and the sp starts to turn. You could wait until an uptrend is established but by the time that's obvious the sp could be 90c or 50% higher than here. It's already up 20% from the low and you certainly can't call it an uptrend yet. However there are positive signs on the chart. Downward momentum has slowed shown by the two down trend lines with the second shallower than the first and now the sp has broken above the second down trend after breaking above the first down trend line earlier this year to form the second, shallower trend line. The next trend line just might be an up trend. It's too early to call but the sp is still low enough to still look like a very attractive entry price.