You asked : “Am I missing something? Why do you find the GSK...

You asked : “Am I missing something? Why do you find the GSK involvement unconvincing?”

I find everything in the market unconvincing except Murphy’s law.

If you look at GSK announcements over the last couple of years you see something like:

Feb 2010: Further agreement with GSK – sp 3 cents to 5 cents.

March 2010 – speeding ticket – previous GSK announcement not material to price – go back to 2 cents within a month or two.

May 2011 – GSK Collaborative Development Agreement – 2.2 cents to 2.4 cents – then continue trend down.

The market doesn’t find GSK announcements very convincing. Neither does the company – going from the speeding ticket response. The agreements create hope thats all.

OBJ is in a downtrend – and the strength of this is shown by the impact of news on the sp. Progress gets even more exciting – expansive – lucrative – commercialisation closer by the day. Sp goes nowhere.

When all this great news and progress doesn’t translate into sp appreciation you know you have a problem. Are these agreements worth the paper they’re written on if they don’t lead to sp appreciation for holders?

So nothing particularly against GSK but coming at your question from a swing traders perspective not only is the GSK collaboration completely irrelevant – its dangerous to even think about it. Its this sort of news that creates the hope that keeps you in a losing position.

Bit like talking to the Directors of spec companies who are the super vacuum cleaner salesmen of the ASX earning 300k a year on a lick and a promise – its all fairy tales before bed-time.

An example of this ramble in action. Around the 16 March this year I accidentally loaded OBJ into my swing trading chart set up. It ticked all the boxes.

Sp above 200 day sma; SMA10 crosses the EMA20 – signalling trend change; Williams %r oversold; Buy on first pullback – usually around 3 days.

So what happened – I let fundamentals into the equation. I thought the run-up might have been something to do with the GLA raising and one of the large JP holdings might have needed some cash.

So confused at entry – meant probably confused at exit – so do nothing. Price went down – so I thought ah ha might have been right about the GLA thing and posted something or other about this. Seeking confirmation bias for my intuition about fundamentals.

Looking back – pure example of what someone 10 years ago said about my trading - slob trading – no discipline. What earth was I using a swing trading set up for something I had never envisaged it for – or set it for – or tested it for - on a share you accidently type into software - that you've posted on in spirited debate. Still a slob after all these years – sheez.

But too old to learn new things - honestly Martin - Ill bet Im older than you and you made me learn how to post a chart :)

All the best Southoz