re: petzl
I have been watching the trading activity in PSA. I agree with you in one respect and disagree with you on another.
Firstly, I agree that it is difficult to buy a good swag when the prices are rising - kicks the price too high. However (secondly), it is possible to get a huge bundle on the fall - over the last week I have seen a considerable number of 1x50,000 bids and they get swallowed on the fall. I think that someone is playing clever games on the technocrats holding.
On the technicals (I am not an expert so I apologise at the start if some of the technical jargon is incorrect) the price broke a penant formation on the 25 November - a buy sign, over 1m traded on 26 November testing the resistance level, this failed and the decline started - traders would start to panic as it kept falling and pass their stocks over to anyone that was accumulating.
I could be wrong and be punished severly. However, it makes sense if an institution was eager to accumulate. Soros said that to play this game you have to read the lies. Let's wait and see.
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
