couldn't agree more HS...I pointed out in a post on friday...

couldn't agree more HS...

I pointed out in a post on friday afternoon that what I believed was the significant aspect of recent trading was that 12.5c support had been backtested and respected repeatedly... even on the recent mighty red DOW day PEN bounced convincingly off 12.5... and the friday (manipulated) close on low volume nevertheless was on the highest low for the week (which had also been made earlier in the week), on a day where the SP made the highest high aswell... while 14.5c was certainly rejected on the friday, it does show that buyers are nevertheless willing to step up towards that level during this consolidation phase... the fact that the MA you refer to also coincides with 12.5c simply further adds credibility to 12.5c as strong support...

if moneybags opinion eventuates, I believe it may well be a quick intraday bounce that will provide an opoportunity for those lucky enough in the buy queue to top up... my order for oppies is somewhere in there around 9's, although I doubt it will be filled

thanx for the chart with the MA'a mate