Itsa.
I keep telling myself to stay out of this sh#&fight but I am a weak bastard obviously.
" The sp went to 6.4c because Platinum sold big time
Nothing to do with gaps"
Itsa and others.
I am not saying the gaps cause the sp weakness at that point, only that the gap is an indication, or a sign that sp weakness will occur at that point sometime in the future.
Please read that sentence a few times.
My opinion is that at that point on the way up the, buyers became a little over confident and reckless causing the sp to gap up. ( mostly traders I would think )
When weakness then occurs at a later time, probably those same punters cut and run having not made the profits they anticipated making, and they have decided to admit defeat without any real damage by selling back as far as their entry price.
People don't seem to realize that it is all Psychology this business and charts are used to try to read what punters are thinking. Yeah, good luck. lol
Itsa, please don't take everything so personal. I am a great believer in PER but there will always be setbacks from time to time. PER certainly has it's share of setbacks.
I understand that you probably feel responsibility to your "people" but they are big boys now and make their own decisions.
I remember probably a year or so ago, maybe more as time goes so quick, someone suggested that the sp would drop during a point of weakness back to, I think it was about 5c, and the same crowd lambasted the poor bastard and insisted that it would not.
Well it did. Maybe he was one of us ostracized poor simple gap followers.
I have said this before, but I challenge you all to go back through PER's charts and see how many still open gaps you can find over it's entire history.
I bet you find close to FA. Maybe a handful in all those years.
I have said this before also, that if someone wants to explain to me how to post charts on this forum then I will do so, but to this stage no one has bothered to do so.
I use only CommSec charts and do not subscribe to any charting service.
The other reason for my reluctance is that a certain poster is deliberately misspelling my tag to annoy me.
It is probably an underarm thing.
I am starting to get under pressure at home regarding the time I am spending on this forum, apparently I should be attending the garden or something, so if that is what anyone wants, then act now.
GLTAH
Lockitt
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