As identified by minaplaya at 3.51pm today bullish reversal candle & hammer pattern formed, 19c gap closed so onward and upward, 20c bid. See graphs below.
So collyn, steve70 and ichimoko trader how did your short sells go today? oh sorry to hear that..
Have another go tmrw see how much you can lose in 2 days. Sold at 19c bought back at 20c = loss 1c not so good eh! tmrw sell at 20c buy at 20-21c = loss of 1c again, the short sell only worked on the last 2 mondays 26-24 & 23c-21c ie profit 2c, all other days nothing in it.
The candle stick bar and bullish reversal hammer pattern is looking on here - especially that intraday MACD reversal and stochastic reversal is showing recovery signs and more importantly the volume spike up to a 10 day high exceeded only by the volume at 26.5c SP last time is confirmation of a rapid reversal pattern, if you are such a good chartist then go analyse that and what its showing you now.
so why would it reverse so suddenly and why didnt the 18.5c lows hold? Where were all these "panic sellers" and where did they disappear in the arvo and why didnt the panic follow everyone else short into selling lower? Why didnt i or any of my group sell but BUY? Look at the chart and volume and ask yourselves ichimoku and collyn -who bothered buying in at these cheaper SP at the largest volume in 10 days and then chased it up to 20.5c smelling a bargain? Why is the MACD signal in an intraday reversal , why is the stochastic in such a sharp intraday reversal as well in confirmation and why is the stoch diff% going to parity and why is the volume spiking today, why did it hit 21c on the candlestick at 3pm? Why was the volume so low all arvo to closing auction.
Heres some answers buddy -
suckers flushed out again, 1 month spiking pattern of higher highs and higher lows intact, hangman friday 12/9/14 has led to a bullish reversal pattern and support with selling saturation point reached, NP is currently irrelevant to POS as its profitable at any NP right now due to low debt and low capex and massive milling capacity and 3rd largest ore resources in OZ. Youve been fooled into the classic 1 month flush wave pattern 25 degree angle up.. If it holds above 18c which it did spectacularly today with unexpected larger volume upside, and holds 20c next few days expect the reversal from the higher low 20c to the higher high to 30c shortly. 8 days to FMG dividends and the Nickel conference at pan pacs. Still no news from WSA as to BHP offtake! Decision time boys. Sucked in again to the interim low wave..hahah not me or my boys buddy.
To the neutrals readin this - look at the graph below, higher lows and higher highs since 2 July 44% of POS shareholders have been bought out.. Why? Today why did the buyers soak it all up and chase it back up when sellers dried out? The expected conga line of sellers disappeared into thin air like that higgins bosson god particle. WHY? Dont get sucked in, wait to December to see what happens. Make them pay for your hard earned.
