relax. jorc around the corner. managmnt tight

Common guys, the whole energy sector has taken a back seat to financials and property as the US financials release better than expected earnings. All energy stocks are second favourites after a great run, which all analysts say will continue.

In regards to the chairman's interest. He definately has more to loose in selling. The project targets of JORC, off take agreements, and gasification test will earn both Merrill Gray and the chairman alot more wealth on completion of which these targets are due for the next 6 months.

Read it here;
http://www.asx.com.au/asxpdf/20070810/pdf/313x46nnnhmyz7.pdf

The market sentiment, particular with financials in flavour, combined with the director selling has taken out the momentum no doubt, but this is typical of markets.

The trading history is telling me that some clever buying is taking place, and not too many people selling in the past week. Buyers will start stepping back up and with such low amounts on offer in the depth, I don't think it will take long to get to new highs.

Let energy, coal, and the specc sector attract the money it always does when confidence returns to the market and then you will understand these cycles are very very typical of spooked markets on so much doom and gloom beeing reported.