It's been highly amusing to watch the spin and back pedalling from the librarian on this thread. How many folks have been dragged into this time?
For over a month now we've been told that the SP was off to .15 cents as "he could see it", and it was "in his analysis" apparently.
Well all that's been proven once again is that his system has real time issues and as I've said many times, no-one knows where the SP is going in these very high SOI stocks, either up or down. All we know is the very short term momentum directions in which we can make decisions on.
Here's a lesson for you Zior, free of charge From the person who in your own words said that is "unqualified" and "does nothing"! Now I know you like longer time frame charts so below is a weekly. Since the big spike early November, the bollie bands expanded greatly but the real magic is what they are revealing. Now I've drawn in an arrow next to the lower bollie that is very significant as from early January when the band dramatically reversed and headed north, this tells us that there will be no higher prices printed until the band resets. So for a while .13 was always going to be the line in the sand.
The only thing that would change this technical situation is if there was news announced that closed down the TA for a while. Therefore for you to spruik to everyone that the SP could go to .15c on it's own steam was just high hopes and wrong.
Technicals alone had a roof of .13 cents on it and so did resistance levels.
Moving to the daily, the only game in town is an ascending triangle with the key numbers now being .105 and .13. I do like the way even the bollies are slotting into the wedge. No-one should ever under-estimate just what bollie bands tell us and more importantly teach us. Incredibly accurate.
Other indications to point out are that MACD has crossed to the negative and the 8ema has crossed below the median level, both things you don't want to see. IMO.
Anyway all good, apparently it's all about the trees and running into forests or is it that we can't see the tree cause there's a forest in the way????
Here's the BIO sector chart which isn't helping matters.
And here's your short / hedge positions.
Cheers
(20min delay)