In retrospect it seems naive to have thought that the SP was going to continue upwards, since it seems that in this climate the short term traders will bring the price crashing down shortly after a nice rise. The chart looks strikingly similar to the previous rise on 11-15 June, so you have to wonder if it will also dive again today like it did then.
I am wondering if this run was deliberately fuelled by someone with the intention of taking profits and driving the price back down again, it would have been fairly easy given the rumours. Does anyone have access to purchaser information and casn see who bought heavily at the beginning of the rise and sold heavily at the top? (probably most?)
I won't get caught out next time.
GMG Price at posting:
44.5¢ Sentiment: Hold Disclosure: Held
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