buyers v sellers, page-6

I missed a few days of the action, due to a busy trip overseas.

Aka,

I agree, charting is NOT Voodoo!
“I would be wary its oversold on most of my indicators so a bounce is warranted but far to early to be calling a bottom of this prolonged down trend (IMO)“

I also agree with the first part of your statement. Not the second part though. I hope your red flagged “SELL” indicators are not scaring the last weak poor souls off into selling.

Underthestars,

Yes, the very negative sentiment during the last ten days in the mining and exploration sector resulting from negative news from Japan and China, as well as the domestic and election budget mumble jumble has led to major selling in the AUSTRLIAN market (incl. BRU).

IMO, there will be difficulties to overcome this sentiment in the Australian market before the election is out of the way.

B U T , for BRU the big turnaround is only days away! IMO, the shorters have practically five (5) trading days left to get their strategy sorted out, before they are forced to stampede in the other direction!

Don't forget: The bill will be passed after 11.June, which, IMO, will free the way to a long series of major announcements by Eric and his fine crew (new rig(s), drilling program, oil distribution facilities, etc., etc. as discussed by many before).

I will enjoy sitting back and watch the stampede!