Selling a rocket is a bit like catching a falling knife. There's...

Selling a rocket is a bit like catching a falling knife. There's a reason anyone with any experience will tell you to sell your losers and hold your winners.

Definitely, the chart is bananas and it has gone up quickly, and absolutely, just like it's rare to see something crash hard without a dead cat bounce somewhere in the picture, it's rare to see an extreme rally without a pullback somewhere in the story, it's a dangerous play to try to catch the dead cat bounce or pullback at the risk of missing the rally or being caught in the fall.

Having said that, hey, 50% profit in a short time is great, congratulations, and unlike catch a falling knife where you might lose a lot of money, the worst you can do by taking profit is miss out on further gains.

At 7.4c I wondered if we were going to see a pullback; it paused there for a while and that was the point where we'd just moved inside the gap (the lower end of the gap was 7.2c), I did consider the option of selling out to buy back in, but picking up pennies in front of a steamroller isn't a good game to play, so I'm happy to just hold on rather than pick up a pip or two at the risk of missing a lot more. Even if I timed it perfectly, I'd only have picked up three pips, and if I actually tried it probably would only have been one, maybe two.

Once we finish this consolidation, which might not last long, the next target should be near the top of the gap around 9c, and then we can probably expect another pause. QPM's current situation is quite a nice opportunity; plenty of people were disillusioned for a long time and no one wanted to touch it (I'm one of the ones who sold out back in 2022 when an upcoming crash was completely obvious), and as usual, the market hugely overstepped the appropriate target, which killed sentiment. When you have something looking terrible, no one wants to touch it just because no one wants to touch it, but if that lasts too long in a situation where value actually does exist, when the momentum turns it can very quickly run up to (and often beyond) fair value. I think most of us would agree we're currently well below fair value (we ended up there for the reasons I described), and sentiment has obviously just been flipped upside down with FOMO clearly the dominant force after despair just disappeared. These situations are where you can commonly find exceptions to the RSI being overcooked rules.

For you personally, well done on your 50% profit in a short time! Whatever happens next, you've done well.