dead cat bounce, page-14

It's actually quite the game of tug-o-war going on between bears and bulls right now.

Been slowly churning through the 12.5c's and then there was just a mad dash down to 12c.

A close below 12c may confirm a dead cat bounce and resume the down trend.

On the flip side, buying could push up through 12.5c's which may confirm upwards leg.

Personally I doubt it will push upwards - there's no real catalyst (announcement etc), markets seems more excited to sell then buy (buyers out numbering sellers), negative sentiment in PRR (due to neg announcements), ASX down on a red day. It seems to be more of a 'Hold on rumor' in the hope that there will be some sort of news tomorrow. No real big buys, low volume, doubt its got much huff-and-puff, but lets wait and see.