on the way up, page-50

Interesting finish gents. I haven't shorted angel - I've had a core parcel and a trading parcel so the latter I've had on and off depending on the movements but I've been overall long since getting in. I originally found NAD as a technical trade in the second wave of the recent bull run when it was building the pattern to break through 4 cents. I never expected it would still have me in at this stage but here I am. :)

Not sold on the fundamentals yet because I'm naturally suspicious of diamonds but JG has lots of followers and this thing could blow high if they find something decent soon. Consequently I would prefer to have just simply held them all through it all but there's been a couple of times when it's obviously overbought and ready to pull back from outside bollinger bands. On a personal level, I've got a small property development project underway atm which I need to fund cash flow so when there's a bit of extra profit there I have to take it. (If I didn't have the property thing on my plate I would have taken a much bigger stake down low and held it through). Picked them well until this last week when it's been all over the place.

At the moment it's working hard to hold the 18 day ma which has been the support area in it's run. I would like to think that it's consolidated and ready to go again but best not to let optimism rule. What's a rational asessment here? I thought there were some interesting moments in the day today, particularly the first two - solid sell down at open matched by a similarly solid bounce back up to 6. It makes it look like the bears and bulls are fairly evenly matched but I'm still asking questions of myself as to why someone is so comfortable selling regular large parcels if something good is coming and that has me cautious - don't want some nasty bear jumping out and swallowing me up.

Next week will definitely be the test of the current chart. The close today gives it an essentially negative candle and also a negative week but it was drifting lower in the afternoon rather than a heavy sell backdown. I got some of my traders back at 5.6, happy to pay more if it's justified.

A cognac sounds good. I haven't got any here so I'll have to go and grab a port instead.