Wow, can't believe all the conspiracy theories being so loosely...

Wow, can't believe all the conspiracy theories being so loosely banded around today. Nucore this. Pala that. And from the so called long term and faithful. Just goes to show how sentiment can and does change. Thought even though I had a busy night, I'd put up a VSA chart explaining what has been happening. Seeing as a few of you are learning the VSA system. The story is still very good. Management are still on the ball. All that's happened is the smart money sensing the sentiment from the likes of yourselves have saw an opportunity to make some profit and have acted upon said opportunity. And realy as long termers your time to sell was the recent highs of 15 or the dead cat bounce. Greed isn't it a curse, along with trading the story instead of the numbers.

Ok. No need to go all the way back to the dead cat bounce. Lets take a micro view from the end of that bounce. The start of the present swing. 2 main areas of accumulation where the selling has been slowly but surely absorbed. Notice the low spread and low volume near the oversold areas. This absorbtion led to a classic upthrust movement and an exhaustion point, cap and subsequent drop off with no demand.

My target price of 76 and entry at 77 were both valid. As stated above I should have factored the US situation further into my strategy. It is that situation and the sentiment towards the expected release of the DFS. And it's subsequent failure that has in effect dropped the SP out of the recognized boundaries. Not management, Nucore or Pala. The culprits are an American economy based upon inability to create wealth and borrowing to pay off debt. And the expected movement and sentiment of the herd.

As I see it. The smart money has ran a classic operation. A further accumulation period must ensue before further upthrust can happen. Likely outcome is a retrace to the 75-77 area to accomplish that accumulation phaze. Further delays and no release of explanation as to why would further agravate the herds negative sentiment leading to further drops in the SP. Personaly I can't see the SM allowing it to drop too far out of the defined range. And seeing as this is a trader controlled stock I find that a valid observation.

Correct strategy at present is to confirm the phaze we are entering. Continuing drop off, Accumulation or distribution. Once you have that with the confirmation then set your entry target accordingly.

Basicly. Forget all the conspiracy theories and negative sentiment and most of all posters who post to book. Focus on the numbers and trade accordingly. Accordingly = trade for profit. Accordingly does not = trade for sentiment.