Greetings holders, quick update on the chart:Test of pivot point...

Greetings holders, quick update on the chart:

Test of pivot point support S2, S3 at $0.48 and $0.47

Descending triangle warning of potential downside breakout (confirmation with expansion of volume required) - Low trading volumes

ADX & Direction Movements: Weak trend, however DI- gaining momentum that could signal stronger selling strength

Stochastics and William indicators indicating oversold positions, awaiting signal for uptrend (similar pattern to previous two break outs)

The bulls have been providing good support levels, and I am hoping that the bulls will not lose morale if political tensions in SA, global sentiment and the wait for the BFS will not cause them to drop their guard and let the bears conquer them! The streets are becoming bloody again, but the rain will always come and wash away the cycle of bloody stains.

Taking a look at economic data provided from a friend, I notice that there have been strong takeover activities lately due to:
1) July 2010 NFC at $1.84 trillion, 27% increase since 2007
2) Cash as a percentage of total company assets is the highest in 50 years
3) Corporate valuations attractive given profit growth
4) Many corporations in restructuring phase, seeking equity

Xstrata is one of them on a takeover path once more with Cash reserves at record levels. I am bullish on the outlook of precious metals and agriculture. I still see great value for NKP, and a possible opportunity to buy/trade over the coming days as I scrutinise the indicators, data and news for an event of a reversal. Share registry is robust holding through the downtrend, note that NKP SP is falling on low volume (fear, worries, sentiment, superannuation holders switching to cash; you hear of this at the work place hehehe). Low volume selling, top 40 holding despite a recent CR at $0.50. Interesting :)

Looking forward, I will sail this storm with you boys. This is the NKP boat, the skilful sailors is still on board. The fearful is jumping overboard! although the ship is not sinking, although we are still sailing towards the right directions... just that the wind have carried us a little of course... but we will get there.

Gosh, excuse my blabber, well off to bed!

All the best to all holders!

LM