New Target - $5, page-323

The huge volume spike at 11am today when the SP hit $3.90 shows me that the market firmly rejected that price and produced the hammer candlestick today which, after two doji's and a spinning top, you would have to say indicates a bullish setup.

Makes sense as there is now only two days to the AGM and I think a lot of short term traders wouldn't want to be left trying to buy shares on Friday afternoon and paying a 5% premium or more.

Tomorrow morning's open will dictate terms on how soon the bullish swing begins. But I think we will begin resuming steps towards $5.

Speaking more broadly, the market as a whole has been oversold the last few days, the ASX has been underperforming global markets for a half a decade now and is due to correct north. I think partly because up til now the Australian property market has been such a ridiculously good investment channel that the ASX hasn't even gotten a look in .... but not anymore. Property will flat line for some time and the ASX is ready to rock as investors suddenly realise how undervalued stocks are in general here.

All and all I am bullish on the markets and bullish as hell on BIG given the health of SME's in Australia, social video taking over and BIG's performance to date.