Sandy Well it certainly did leave $1.10 well behind and I profited very well from it.
Now it's time to go back to basics and look at the GAPS on the chart that in most cases get filled at some future stage.
Gaps at around $1.25, $1.11, and $1.04.
What could the trigger be to get SP back to close these gaps? I have no idea. Another dry hole - another shock from the USA - a digruntled China over Rio deal ???
Whatever it is, odds are it SHOULD happen. There are no guarantees to this strategy - especially if a Co announces a significant positive increase in it's net worth. TAP's market update did not do this.
I'll start buying again @ $1.12 and buy majority if it closes gap at $1.04. Leave 20% to top up on rebound.
The faster they run up, they faster they come back to a realistic price.
DYOR
TAP Price at posting:
$1.25 Sentiment: ST Sell Disclosure: Not Held
