GZ, I know you don't like charts but please indulge me as...

GZ, I know you don't like charts but please indulge me as speaking my philosophy out loud helps me think better. There was a time, early in my share market adventures, when I did not look at or even really understand TA. After all, everything I needed to know was in the fundamentals. This proved to be disastrous because by the time I found out the difference between what I thought the fundamentals were and what they actually were the market had gobbled a lot of my money. Then I discovered charts and I became too cool for school. I didn't look at fundamentals at all anymore...after all, everything I needed to know was coded into the charts. That turned out to be doubly disastrous........

The best approach I find, after many battle scars, is not to totally dismiss either. I love what 1pg are trying to do fundamentally. IMHO they have the potential to become the next Linked In which has a market cap of 33 billion USD although I would still be over the moon happy should 1PG eventually just become a mere Seek with a market cap of 6 billion AUD. Make no mistake it is the business model of 1PG that I find attractive and nothing to do with the chart. That said one eye on the chart can't be a totally bad thing. See the chart below. On the way up 1PG hit some head winds at that 90 - 93c mark. From a technical perspective it is no surprise to me that when it pulled back that this is also the area where the price has found support. IMHO if anyone tried to now tell me which way 1PG would break based on the chart I would say they are fooling themselves. But with that said each time 1PG comes back to that support line and bounces I become just a little more confident that it is finding a base. On the other hand if for some reason 1PG was to break down through that level now then I would expect a high volume day and a big drop down to the 80c mark maybe over a couple of days. There is no sign of that happening here of course and 1PG looks stronger with every bounce but just saying that over the years I have saved a lot of $$$$$ by noting these support lines and many times have leapt out of a stock, with the raiders of the lost ark theme song blaring in the background, just as the stock was bursting into flames.

So in case you were wondering this is the line in the sand that I have been monitoring now for a few weeks. And my biggest disclaimer of all is that my techniques are by no means fool proof and I have been frustrated by left field events many many times.