Thank goodness for that.

Thank goodness for that.

Stocks that go up in a straight line make punters nervous.
So long as we close above 5c, I see today's action as a very necessary psychological pullback.

It reminds me of those times (and heaven knows I've been involved in dozens of these in the past) when you've watched a stock go up and then it has one of these hiccups. Those who haven't done in depth research fear capitulation and sell at break even or at a loss. The stock then settles and buyers tiptoe back in and you see a small rise. For the ones who just sold, "sellers remorse" kicks in as they realise they responded too quickly and emotionally and they buy their stock back again. The next leg up gathers pace and a new higher high is recorded.

It looks as plain as day on the chart and time will tell whether that is indeed what plays out.




Note: I will not be adding to my bloated holding during this time. I already have plenty and if I dare go on the bid for any more, I will have to answer a 'please explain' from Mrs Gottalove.