When I last posted back in mid February there was some...

When I last posted back in mid February there was some indication that the SP was showing signs of a positive reversal and like everyone else I imagine, my fingers were crossed hoping that the incoming half yearly was going to have some positive news as distinct from the half yearly summary. Maybe the preceding modest bullish move raised the spectre of an awakening under way.

As it turned out this wasn't the case, it was wishful thinking and within a couple of days the nascent positive move obviously ran out of puff and I realised it looked like the SP was in the early stages of another move south. So I finally decided that enough was enough. It wasn't just the technicals but the lurking concern that I was staring into a vacuum, at least in the short to medium term. So I bailed.

I don't think that Alexium is a lost cause and the promise is probably still real but at my age there is only so long that I can hang around waiting. So I have decided to go back to shorter term position trading which I have been doing for a couple of weeks now.

I guess I was hooked by the promise of something special in this company which as a former hard core medium term position trader is way out of character for me but looking at the evidence as I saw it at the time I decided to let it run over the longer term but it didn't work out in time this time, it just has taken too long.

I don't make a habit of on going posting on stocks that I don't hold and won't do so in this case either. I will pick up any positive moves with Alexium going forward in my regular daily and intra day scans of the market and when it decides to get a wriggle on it will pop up and I would happily rejoin the fray if it qualifies.

So Bon Chance and Au Revoir, at least for the moment......