new charts , page-55

Ironking,

what you might want to consider is a potential for a "crowded trade".

That is where everyone is in on something expected to be great and suddenly as everyone has already bought in we are left with no new buyers and the price tanks. This happened recently with silver. Every man and his dog got on board. Anyway, I am not saying that this is what is causing a weakness today, ( see previous post for that), but rather I am suggesting that the expected good news that is known by everyone is dangerous to have high expectations from and everyone who believes in the good news about to come has already bought. MNot everyone can make a profit in the market... each winner needs a looser to match the position. So once the news is out we need to find a whole new bunch of buyers. This is exactly why so many shares drop on good news. Buy on the rumour sell on the fact ... blah blah blah...

So I see how you are not wanting to miss out on good news, but you also have to consider how many people are on the trade already...

I would also look to the chart to see potentially better entry prices lower which I will be waiting patiently for.