review of elec car available in oz, the i-miev, page-11

ASX Guru's analysis for 31/12/2010
For info

Two weeks ago I posted about Strategic Energy Resources (SER) securing a non-binding agreement with an as yet unnamed US based firm to develop the Uley Graphite Project.

In that post I noted the strong sell off after the news had been announced. The selling was mostly the result of insiders and short term traders who had bought in ahead of the news. The updated chart shows recent lows of 6.3c being reached after the spike to new 12 month highs of 8.8c when the initial news of the deal was made official.

As predicted, the selling was short lived and the short term traders have now been cleaned out. Over the past three days the buyers have come back. Buyer interest has been so strong in fact that we now have trading gaps in the updated chart shown above. Today we saw highs of 8.5c and a close near the day?s high at 8.3c. Although the previous high of 8.8c has not been cleared yet, we did see a new 12 month closing high today.

The buying spurt over the past three days suggests that good news is just around the corner.

I particularly like this last bit
Cheers
fc