Hi JB,
Well, I mentioned yesterday that I expected there would not be a re-trace due to the strong close on Monday. Now my thoughts are that there are alot of players beginning to get very much set in this stock and as a result I feel that it will remain VERY strong all the way through to results.
Mali results may not be immediate and Sweden is a couple of months off before results, but I'm fairly sure that everyone is aware that waiting till results are in may be in a BIG mistake as the stock will be completely re-rated and for those who have known about it from now, it would almost be out of spite that you wouldn't enter at twenty cents plus.
That being the case, I see a strong support at the 8c mark for this week and IMO could quite easily test ten cents. It may go a little quiet and volume may go back to the 1-2mill per day for a few weeks, but it will be so tightly held that any volume should result in an upward trend.
Investors that are already in don't want to be out, and investors that are not yet in want to be, the only question is the price they are willing to pay. So it's up to all of us to read into that what we want, but I read into that, that the investors that want to be in will have to pay whatever it is on the table at the time and I can't see that going backwards.
In short, 8-10c close this week, then small steady increases until results. Those waiting for a re-trace, if you want in, just get in. 8c will seem like nothing in months to come. My average buy in is 5.9. I wish it was 4.1 but "you know what" happens!
Of course it's just my opinion and I've been wrong before.
JS
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