Honestly Jaded, I DO NOT KNOW how this will travel. If I was...

Honestly Jaded, I DO NOT KNOW how this will travel. If I was that confident I would already have protected myself from sp fall and profited from sp rise.

I did have a feeling whilst sp was still in the 0.30's that the gap in the low 0.20's could be closed (which I did indicate in a post) and that has virtually happened.

What I do know is that AXE for the time being is just a speculative stock and it is not yet doing anything of it's own bat. The cash backing is nice but it is not going to propel the stock to any dizzy heights.

It's sp went up with the short graphite boom.
It came down with the release of the 0.30 spp shares and went lower when bad Europen sentiment took over.
It's now rallied (albeit late in the day)off the bluster of SYR announcement (one day phenomena ???) as have most of the other graphite stocks.
However it always seems that AXE sp rises tend to lag the rises of the other runners on a good graphite day.
Also know that it's a pretty deceptive beast. You can be somewhat assured that within a trading day, if sp goes up someone will come along the same day and sell it down. Conversely if the stock gets sold down early, someone will come along and buy it up.

I think AXE will continue downtrend and make new lows if prevailing market sentiment is based around bad news from Europe which to me seems likely. Otherwise if Europe situation stays quiet, a daily zig zag rebound into the 0.30's is feasabile (almost there today).

Until AXE starts to establish it's own credibility as an explorer ie. drill holes, drill results, positive early resource size/quality indications (ala SYR) etc. it will remain a ping pong ball being hit by winds of prevailing market sentiments.

If carefully watched it could be a good trading stock.

Also I think that SYR is viewed more seriously as sitting on a large commercial deposit with genuine development prospects. Thus I think SYR should probably continue as a sector leader whose sp performance will continue to remain a good indicator for the rest of the sector and thus AXE sp direction.

Main risk to AXE is if Graphite fervour takes the same turn as the previous Rare Earths ferver. You might say that Graphite is needed for this and needed for that but that's what they say about rare earths being needed for LCD screens etc etc. but sector still gone cold. Then fundamentals of Sugarloaf and Campoona will mean nothing.

The only advice I can give is caution. As Marcus Padley said, we are trading on the deck of the Titanic.