many many times have seen big players come in and traders follow. big players sell for a profit and traders then get stopped out for a loss.
that is normally a good safe buying point for me. if breaks down from there then a valid fundamental reason will be announced but often see a retrace followed by a strong sustained rise.
pem is at that point for me. relatively safe as a buy as long as report holds up and dow treads water. if i am wrong and breaks down then out and rebuy lower.
so yes my order to rebuy has been hit and now either in for the ride back up or out until resettles lower.
bau fms avb ssn ovr ccu jml bpt are all classic examples in recent weeks and months. quality plays but get played with. gradually market takes control and they recover.
now up to market and pem.
PEM Price at posting:
52.4¢ Sentiment: ST Buy Disclosure: Held
