fire up people

Thought it was time for a new thread and today was a little quiet on all fronts, no chat no trades.

An interesting stand off today. Anyone who hasn't bought in the last few days are up around 40% profit but not many rushing to take it. Likewise I assume the 2M shares bought last 2 days above 30c says some people are keen to buy but too shy to jump. All shares need a pause to refresh, a pull back where those fearful of losing recent gains get out and those looking to accumulate get set cheaper before the next run. Most importantly at this early stage punters want to see support at some price so they don't feel a dill selling too cheap or buying too high.

So where will the price settle before drilling gets close and interest rises again with anticipation of a serious re-rating? Given the unsightly scramble of the last few days pushed above 30c for the second time in just over a month I would venture that 25c is now history. At 40c the 25c boys are sitting on 60% profit which for short termers might be too good to let go making it the next significant barrier. I'd say that 30c will find only a few sellers now and suffiecent accumulators to hold. Those who don't want to risk missing out will need to consider buying up towards 35c as they become avaialble.

Who knows what buyers are lurking off screen and what interest this round of presentations will generate. Still a couple of months before drilling so enough might shake out for everyone.

Personally, bought a ticket for the full journey and boarded just as the train was leaving the station.

As always, goodluck all.