hi JW, good to see you bought a few more, will personally be...

hi JW, good to see you bought a few more, will personally be scrambling to get one more parcel at this level early this week before it moves too much.

mentioned the double bottom from late December 07 to early May 08 in previous posts, 38c was the trigger for RFE to turn the corner on both occasions.

in the first trough the SP hit 38c on 31/1/08
2 weeks later, 14/2/08, the SP closed at 48c
2 weeks after that, 28/2/08, the SP close at 54.5c, approaching the peak between the 2 troughs.

in the second trough the SP hit 38c on 7/4/08
2 weeks later, 21/4/08, the SP closed at 46c
2 weeks later, 5/5/08, the SP closed at 49c
2 weeks later, 19/5/08, the SP closed at 59c

if you look at the charts and on general history the last 2 figures there may have been slightly hampered by the GFC starting to really kick in.

fast forward to what i believe is another double bottom just about to play out.

in the first trough, the SP hit 37c but was only there momentarily, all these figures relate to the last day the SP hit 38c in each trough, this date was 27/5/10.
2 weeks later the SP was 40.5c, some major resistance to turn around here but once it did.
2 weeks later would have been 25/6/10, no trades that day, the next traded day was 30/6/10, SP closed at 50c
2 weeks later, 14/7/10, the SP closed at 63c.

assuming the last time the SP hits 38c in the second trough is last friday, 15/10/10, i believe the SP could be around 52c by 15/11/10 and in the low 60s by the end of November.

this is a very legitamate chance of happening, RFE is probably only one third of its realistic value, once buying starts to accelerate this will pass confirmation of a double bottom, 68c, possibly in early December, this will be a buy signal to investors.
i am buying now.

this is all only my opinion of course, purely TA, but buying certainly appears to accelerate after the 4th week from the bottom.

JW, honestly think 38c is the bottom so dont think you will buy in cheaper.

this is not financial advice, purely my opinion , DYOR etc