Invest EgateI have been in this game for 10 years now and it...

Invest Egate

I have been in this game for 10 years now and it hasn't happened yet. I am not disagreeing with you that the future prospects may be great. I am only concerned re the short term trend and if you have a look at the sp, it is acting very irrational considering it is speculative atm. The price seems to be moving only up with no retracement (short term). When the sp should go down like all other resources, it some how stays up (very unusual). When it goes up, it goes up by astronimical amounts, unlike others. I firmly believe that there are other forces out there with vested interest who are capable of supporting the sp esp during the closing minutes. The liquidity isn't there yet and this can obviously be done with ease. All I am saying is that in the short term (weekly chart in particular) the SP is overbought and has defied normal retracements. This is not normal but I maintain that it will retrace to around the 14 level and sooner rather than later. If you are in it as a long term invester, then your method will be different to mine as you will not be concerned about short term retracement. If it wasn't for the obvious overbought sp I too would be long and will do once it comes back to a reasonable level (when it is allowed to do so on its own accord). Even when the US lost 400 odd points, the SP went to 1540 level and almost immediately these buyers came in to get it back up. It's almost like the Ozzie PPT version. Very obvious and I suppose having an Ex Broker (at least I think he is-not to interested in the history side of things) may have something to do with it.
Anyway just my opinion and you don't have to agree with anything I say.