Great to see another green on PDN.I bought 500K @ $0.555 and...

Great to see another green on PDN.

I bought 500K @ $0.555 and sold ave $0.57. Was busy this morning and didn't pick up that U had a turnaround based on Japan's decision. Those in the know has already bought up yesterday based on Northern US stock running yesterday.

Buy/sell depth is pretty even ~7M each. Today's slight tail and the sell depth tells me that there'll be resistance around the $0.57 region. Constant selling in this area.

As with PDN, many would be familiar that the stock will spike and over the next few days it will drift backwards again - e.g. the asset sale to China (spike up to 65c and drift back to sub 50c).

I expect a retrace slightly back to 52.5c before consolidate and moving higher - this will require the U price to spike up prior to next move.

Unfortunately PDN sold off the 25% stake which was just untiming.

I'll also be monitoring a few other U stock incl BMN (previously Hanglong takeover), ACB plus a few others to keep in mind.

My view about the retrace is based on that I'm one of the shorters and most ppl wouldn't pick up shorts have entered the market before it was too late.

I posted my view about PBT prior to the trading day which saw the stock gapped up at $1.15 and drifted lower to sub 90c. I wrote on the forum that ppl needs to be careful when buying into the news as the smart money and pros would have shorts ready to sell.

Today's PDN candle with a tail tells the story.

I'm looking at a few days consolidation before moving higher - hopefully more news in the sector - wouldn't surprise if some of the major is now running the ruler over some juniors.

cheers
pcyc