Iecram, you are spot on. The SP is going down, the trend is bearish and all of this is obvious at a quick glance.
To speculate on how low it will go, or what will happen tomorrow is only guessing. You will do your head in trying to read the future.
The fact is we are waiting on news of a JV partener, offtake agreements, mining permits etc. All in preparation for Sundance to step out of explorer into prodcer.
Some are patient and sit on the sidelines awaiting the news. Some are impatient and quick to make assumptions on what is happening. Frustration is obvious when the trend is going againts many in here. But on the turn of the tide, the mood swings positive and the chatter is like a flock of cockatoos.
The bottom line is, if you trade the swings, then you are most likely out of the trade. Long termers will hold and (or) accumulate.
Sitting here quietly meditating with my beer, waiting for the tide to turn "again".
SDL Price at posting:
40.5¢ Sentiment: Hold Disclosure: Held
