technical view, page-25

I do agree with Disco Stu about the TA. If you're trading based on TA alone, then you don't even need to know what the three-letter code stands for. You trade the charts. I've done it, and made quite a lot. I have a friend who is extremely disciplined and does pure TA - makes heaps.

Incidentally, like me, he hates short selling, and never does it. Long only.

BUT - and this is where I also need to come clean - I hold LYC (a lot of them) using a different strategy. It's my buy-and-accumulate strategy. I started buying them - on funnymentals - back in the 30c days, and have averaged up to a buy price just over 40c now.

But here's the rub: all the true believers on here are convinced that the SP will fly if we get a good clearance from the IAEA report. I'm not so sure about that.

First, there's the old "buy the rumour, sell the news" effect. Price might be drifting upwards in the next few days, then the announcement, and bang - down she goes. Seen it all before - many times.

Second - even a good report is no guarantee that we will get the operating license for the LAMP, and it is also most certainly NOT a guarantee that the protests will suddenly stop. They could be a thorn in our side for years...!

I'm a long term believer in the fundamentals of LYC, but a bad report from the IAEA could see me selling out (and taking a large profit, I might add) and then waiting to get back in once production looks to get under way.