todays action, page-23

thelynxx,

Curious about your views regarding the sp over the past 6 months or so. You wrote that you sold your holding at over $2.08. Well done! The sp actually visited nearly 2.50 if my memory is correct.

Considering the fact that the market factors in known issues, the cap raising exercises that were known even back then don't explain how the price spiked the way it did. So too the trading after the suspension earlier in the month, when a quick dip to about 1.52 on the morning it opened was followed by a surge up to over $2 again.

If the "lithium market" was what made all that happen, then the "1000's" of hours you've spent should expain that. The dilution doesn't explain the gyrations either.

You mentioned the dismal state of the charts, and I agree with you. But charts tell us about the past, and certainly do not predict the future. Any chartist will tell you that.

My take is this: the price is wandering around looking for a home. Some will be buying with a view to the medium/long term future, which is rosy in both your and my estimation. Others will be getting out with long held profits, and still others will be trading short term. Add to the mix the invisible forces that affect the market. Some call them "manipulators," but I call them traders.

Again only my view, but if I were in a position to move the sp by 10s of cents at will, and if I wanted to buy now with a view to holding until after production commences, I would be capping the price and driving it down as far as I could. I am impressed by the relative resilience of GXY over the past week, and I know that you might chuckle at that. But every time it looked like it was going to fall off a cliff, there was some gallant trader ready to rescue it. It happened repeatedly all week. Looks like accumulation to me, not a sell-off. When we consider where GXY was on the 1st of March of this year (under .30, there are lots of folks out here who are quite happy to take their profits. As those are replaced by the new holders, the price will stabilise and head up.

I appreciate your thoughts and scholarship. However I still think that picking the bottom for GXY is a very dubious guessing game. Even your thoughts about Monday are questionable to me. I've been with the company for most of this ride up, and oft has been the trading day when the rest of the market headed into the crapper and GXY soared. There is no direct relationship between the ASX's movement and that of GXY at present. Just some more musings for a Saturday morning.