Hi allI have had a look at the weekly charts to try and get a...

Hi all

I have had a look at the weekly charts to try and get a clearer indication of how the market feels about FAR.

1. It is only the last week over a period of 7 weeks that the price has been hammered. Previously, there was a nice steady rise.

2. The week beginning 3 May, where FAR hit an intraday high of 10 cents, we saw weekly volume of over 131 million shares traded. The following week (beginning 10 May) saw only about 24 million shares traded. This week, we will be lucky if we see 20 million shares traded. So, volume has dropped signifantly as the price has dropped (i.e. most of us are waiting for the joint venture announcement).

3. The weeklies show that since August, FAR's price has been trending sideways. Short term trends have fluctuated, but the long-term money, the majority of FAR holders, is status quo.

IMHO, nothing has changed. Everything hinges on that JV announcement. Short term fluctuations in the price should be expected given this is a speccie and is volatile. While traders might try and exploit these short-term movements, I suggest that there are few traders in the stock at the moment, and that the sudden increases or decreases in price are a result of short-term trading views that have translated into positions in FAR that go as quickly as they come.

Any comments are welcome.

Lots of love

puff