It may appear that my prediction of heading to low 54c is on the...

It may appear that my prediction of heading to low 54c is on the card - but did not happen today.

Check out the "SP today" thread where I've posted my view on this SP.

Looks like CR will do the job for the chartist.

It should consolidate shortly or bounce off from 50c support level. Interesting time ahead. From past experience there are 3 likely scenarios with CR:

1. SP will drift up to 10% below the issue price, that means to low 45c. Happen to about 60-70% of stock that has CR most of the time.

2. SP consolidate around a tight range of 49-52c.

3. SP bounce off 51c convincely and started higher high and lower low - this is more the likely case due to the sector being hot and everyone wants a piece (sounds too familiar?)

I'm betting scenario no. 3 and will have my orders in 51c, 49c and 47c.

cheers
pcyc