Johno,juk is using a log scale, whereas you are using a linear...

Johno,

juk is using a log scale, whereas you are using a linear scale. Take a look at his/her chart and you'll see that the horizontal bars are not the same distance apart.

Some people swear by log scale charts. I don't. I'm almost agnostic on the subject, but tend towards linear. On a linear chart, I get similar channels to you:-



Having said that, as I made clear in my previous post, I don't swear by your two-times channel breakout theory, either.

When you look at the fundamentals, every single one of them shows SLR as being overbought. However, SLR is a relatively new company (listed in late 2007), with projects which are only now being proven-up.

SLR, is (IMO) moving into a new range. Is 70c the top of that range? I don't know. However, I would doubt it. Consider: 50,000oz p.a. @ $A500/oz margin = $25,000,000 p.a. gross margin, for a company valued at $75,000,000.

Now, consider that investor expectactions are for a rising gold price and exploration success at SLR's prospects.