intellimoney "You got great guts to be shorting it, I am sure...

intellimoney "You got great guts to be shorting it, I am sure there is an insto of some type taking a large postion at the moment."

Yeah, I suppose you have to have guts to be on any side of the market at any time - trading/investing is not for the faint hearted.

I got in at 4.02, stop at 4.40 (last top plus overshoot margin), but only a small position as-

a. I am just putting a toe in the water with CFD's, not having used them before, and

b. my guts aren't that great!

I watched the course of sales on and off all day, and my feeling is there was large insto dumping, and multiple small lot buying. There would be a drifting of small sales, up and down, and when the buy side had built up a bit with many sub 5k share bids, they would be wiped out in a single huge sell. Then it would go quiet again. Nothing like that on the buy action, just many little lots.

I am looking for a resumption of the down trend begun in 2000, which is nice and strong and very chartable. If that is the case, $3.50 will soon be just a memory..