proves to be just another spec

for U in probably the hardest State to be a U-spec in. I traded half out into the rise and dumped the other half on return to trading from halt so personal result was Ok, but then again, I was one of the LUCKY ones watching it go into pre-open.

The fact remains that U has been discovered and opens up a new U-spec play looking ahead ....... NOT the first hit bonanza win we were all hoping / (expecting?) based "reports" of what supposedly was said at AGM and earlier rock chip samples ....... which are meaningless in themselves apart from indicating there is mineralisation in area ...... like picking up a small nugget in the ground, doesnt mean u have a viable gold resource.

So what next? Happy to put it on my U-spec list cos I will be looking for a few U-firesale bargains into 2008 market uncertainty BUT IMO, pure techno play from here if u wanna trade technos.

Reality now is no more work up there thru the seasonal WET so IMO price will continue to DRIFT to whatever exhaustion ahead of next bout of real work likely from April onwards and based on what POU and State legislation unfolds.

And if this Captain Blood is the same as of IMI fame, then charts look like unfolding in like manner for mine.

No rush to get back in for mine, technos will alert again, plenty of time IMO unless there are any corporate events likely to unfold.

Trading on a hit or miss (like the oil specs) needs to be a disciplined art if u wanna survive it. U should never place yourselves in an all or nothing situation given how much the odds are against u in fluking a major winner. And as the market mood gets darker, u gotta make sure u r smart enough to stay in the game.

Stage 1 a dud. Stage 2 the fallout. Stage 3 ... regroup ... its a WARZONE ! The game goes on however ........

IMBOOC