PLS chart, page-20109

IMO.

My take onthe current behavior is that they are backtesting for supply after the Springwhich occurred last week.

The Springdidn’t find much supply at the lower levels, in fact, I would go as far assaying that at the lower levels it was very expensive for them to establishthat there was little supply hanging around. It was a deep Spring (type 2 probably) where penetration of the lower support goes deep with high volume. The auto rally following was wholesome to see finishing back at the higher resistance level of the previous trading range which was absorbing/accumulating as much as could be from methodical hoovering and retesting every day of the available supply.

I feel thatthe accumulation phase is in its final stages from the behavior, but yet to beconfirmed. The current backtesting of the Spring is part of the ongoing confirmation process.

What do Ianticipate? Continued backtesting for maybe a couple of days to establish andconfirm the findings of the Spring last week. Retracements for fractals, which will happen from time to time, going forward should be short lived until wave 2 of 1 starts developing. This behavior provides a breather, a time to put more water in the kettle so that more steam/energy can be generated to push the mercury/price higher.

I find itinteresting that EWT and Wyckoff are just about running in parallel. EWT – is itthe completion of Wave C / beginning of Wave 1? ; Wyckoff – is it the end ofaccumulation and beginning of markup?

Then thereis mapped over that the commodity price which drives the share price and what ishappening there. Yes, commodities are down, but cyclic. Mysterious supply,mysteries stocking, mysterious goings on with indexes, exchanges, and sovereigneconomics. Who knows how it works and who pulls the levers. I tend to thinkthat most is smoke and mirrors and it hurts when smoke gets in your eyes!Anyway, all things pass and the longer term view is ‘I’m a happy chap, and youain’t bloody well getting mine!!! ha ha ha ha ha ha).

Now havingsaid that, if EWT and Wyckoff are showing life which is a technical way oflooking at what is actually happening, does that mean that our friends knowthat the commodity price will not hold much longer before the cycle beginsagain.

I feel thatthe worm is about to turn, the smoke clearing maybe, the need to restock nowthat inferior quality Li is rejected (on futures), roadbase probably at thebottom of the scoop as stockpiles vanish? Only time will tell.

Then thereare our friends, 615.6M of them. When will they cover? When they know there isno more supply left. Motive is purely financial, they don’t want control, they don’twant a take over. Money, pure and simple greed, and something which they canrinse and repeat time and again to make money. PLS fits the bill nicely – huge numberof shares on issue, diverse register, nice SP price point - not high not low, single pure play, awesome future. 615.5M shorts is a big investment over the journey, return on that has got to be handsome, and it will be, they will want their due – is it coming? Yes.

Well, that’sjust about a wrap – the holiday here continues, hot and sticky, but that’s life– a few weeks still to go before back to sunny Hughesdale. Thanks Team PLS for providing all.

Oh, andwelcome aboard Kathleen, I am sure you will add to the PLS Team with anotherset of experience. Tony, thank you for all those years and steering us throughsome pretty dark times. Good luck to both of you.

Lastly, justremember, it won’t move until supply stops. This has been a major and longcampaign by our friends and they’re not going to go until they are satisfiedthat nothing is left behind. Once it starts going forward, it ain’t going tostop until distribution and profit taking to get their return on investment.One last one – it’s taken time for them to create this environment, it’slikewise going to take time for them to unwind it. Patience is key.

They ain’tgot mine ha ha ha ha ha. Oh, already said that!

Good luckall, sorry about the woffle, my thoughts only, could turn out to be mush! Toomuch time on my hands at the moment.

Sorry aboutthe typing appearance in HC, Doesn’t copy/paste too good from Word.

Enjoy yourday. Osigeee.