Barry,Ill miss your posts too, goodluck with your promotion, i...

Barry,

Ill miss your posts too, goodluck with your promotion, i have no doubts that it was well deserved! Congratulations :)

As a fellow shorter and with a bit of time on my hands this morning, ive decided to come to the defence of our short positions.

Punters are expecting higher prices, but first BHP has to break substantial resistance at $31-32 odd, we all know this.

The more failed attempts the more weakness and more potential downside in the SP.

As a recent example, NAB had numerous attempts to break resistance at $26, indicators where positive and it even formed an ascending triangle!

I was on the NAB forum sprooking the potential downside of numerous failed resistance breaks, and as you could imagine it wasn't the most popular.

Just as this post wont be too popular.

Check the chart NAB below and see for yourselves:




Now look at the similarities with BHP, im not saying its not going to break resisitance but if it doesn't soon, there is considerable downside risk!

So dont count your chickens before there hatched and pay Garry Coleman the respect he deserves, lol