Agreed!!Few more realities:the buying volume that resulted to...

Agreed!!

Few more realities:

the buying volume that resulted to the increase in SP to 6c+ was mainly coming from hartleys involvement and also from those who wanted to ride the fast increasing hype and increasing SP.

Let's face it that plenty joined pen on short term basis (it's illogical to think that all the spike buying volume was from long term new investors that have seen the glorious future and then all decided to sell when SP started to fall!, long term buy & sell on short term decline don't logically go together).

I see some also balming day to day movement on DOW movements and there is a common similarity in behaviour and that suggests that again most volume drivers (whether up or down) are mostly traders and short term investors!

Conclusion from above: since there's hardly any short term events that would suggest an increase in price then like any other spec in the market SP will go higher on any short term anticipated good news and dies down later until new lot of good news come!

Charts can be good in determining current mass reactions but can never predict future mass reaction to any news! Example: when SP started to go higher few months back, no chartist could see that coming!!

So charts are like speedometers that tell us the speed we're going but can never tell us that we will brake in 1km or in 10 km or if we'll go faster, it reflects the facts but can never tell us any irregular behaviour, such as a change of trend, even that all indicators may suggest a trend reversal, an announcement can come tomorrow and re-direct SP to a totally different direction!

So IMO a re-valuation is what takes any spec to higher level and keeps it in the higher level because more long termers feel safer about long term success of a company and that didn't happen yet and IMO won't happen for another few months!

Right now, traders and short termers are in total control and the real value of PEN is lost in the noisy transactions of traders!!

Cheers,