Well there we go. We are now in 6c territory! Don't think that I...

Well there we go.

We are now in 6c territory!
Don't think that I caused it to happen as I simply tried to warn that it was 95% likely.

Some people seem to think that I can control the sp by what I post. Believe me, I have a very small ego and know that of the thousands of punters on the market each day no one other than a few of us pathetic HC readers even have a clue who I am.

I genuinely tried to protect people with my tiny bit of knowledge only to cop lots of abuse that I was trying to get the price down in order to buy cheaper.
I am so disappointed in this stock now that I would more likely be a seller than a buyer.

What I have been saying regarding my reading of the "gaps" I have explained back in the first few posts that I put up regarding the subject.

It is not hard to follow and is probably the most simple indicator possible.
It takes no more than a sideways glance of a very simple OHLC chart to determine what is likely to happen today, tomorrow, next week , next month or year but it almost always happens.
How it goes with better class shares (ASX 200) I have never checked.

I suspect it is a spec stock thing where buyers tend to act on emotion.

That is what charts do: They show what is the sentiment/ emotion of buyers/sellers.

If any potential buyers did what I proposed and placed orders down in this area, then they are very likely to get hit.

I will once again explain it but this is the last time.

Using a simple OHLC chart check the closing price for the previous day.
Check the opening price for the current day. If this price is higher than the previous close then that share has "gapped" up overnight and is highly likely to cover that gap some time in the future. If there is overnight news that could account for that gap up then use your judgement as to whether or not that news warrants the jump. Even then be careful!
The last few days we have seen several examples of up-gapping which have all quickly filled in.
To determine if gaps from previous times have filled then simply run across to the left until you meet previous prices and see if there were open gaps there.
If today's price then comes down to, and covers that gap then it is filled and no longer a threat.

One problem with charting I feel is over analyzing using multiple inputs that just become confusing.
I am sure you all know the KISS theory, so use it.

Holders are now seeing the drop in prices and deciding to cut and run, and who can blame them.
Hopefully this will exhaust itself soon and we can get back to sp growth.

Remember OHLC chart, no other in order to keep it simple.
If you have a CommSec account then use their charts.

If someone wants to send me instructions on how to post the appropriate charts then I will do so.

Lockitt