Good to see you onboard, if anyone should take a look at the SIR chart they will see on 5 occasions where volume has jumped in a big way along with the price, the 5th time is in progress, the other 4 spikes in volume have all been followed with retraces and all 4 of them made solid higher low points, all 4 of them then made big reversals to the upside with solid new highs in the price.
The 5th reversal currently in play has the previous low of $1.32 to stay above which if this can happen will set again another higher low point in the chart.
While we are on the subject of technicals all previous 4 retraces were on declining volumes and retrace number 5 currently in progress again is playing out on lower volumes.
Further more on another technical note the voume spikes on all big moves north are aslo dropping with the first big jump on the 26th of july being 56m traded, 3rd of august 25.5m, 27th of august 21m and most recently 3rd of september 13.7m traded.
While these powerfull jumps in price are still happening they are being done on much less volume which is showing a share register thats getting tighter by the week which is obvious accumulation.
IF....and i say if by chance SIR should ever trade around 30m shares again let alone anything around 50m shares because of good news, this combined with an obvious tighter share register is going to set up for a parabolic move up.
Thats enough on technicals, the fundamentals of SIR are well documented by many on this thread a great deal smarter than myself, positive technicals and postive fundamentals for SIR to me is suggesting higher prices as the story unfolds over the coming weeks/months.
SIR has plenty of fuel(Cashed up) for the next 6 months putting a cap raising out of the picture until 1st quater 2013.....
Shield???? I dont need a shield as not 1 SIR doubter from the start is still standing, they've all fallen on their own sword......
SIR Price at posting:
$1.47 Sentiment: LT Buy Disclosure: Held