weekly macd turned positive, page-44

Folks, just to reiterate, it is odds on, in my opinion anyway, that once this rally is over the sp will be coming back to 30c. It will probably be a slow drift downwards to around 28-29c to put in a higher low. I highly doubt a new low. In the meantime the question is how high this upleg? Some Fib levels of the downtrend to watch are 61.8% at 46c and 50% at 52c.

I really wanted that consolidation under 30c to happen before the breakout but it wasn't to be and therefore we are in for a frustrating period ahead imo. I really have no doubt in my minds that the sp will be coming back to under 30c. I hate to mention it but I will as it is one of the reasons for my thinking. Yes, that's right, as some of you may know I have my "top secret indicator". All you need to know about it is it has an excellent track record for predicting minimum pullback points and unfortunately it is predicting my stated pullback after this upleg is complete. Believe me, being a shareholder I don't like to hear this but those are the facts as far as I'm concerned.

Also, one last thing for those that mock TA and put all their faith in FA. A smart technical analyst by the username of Voltaire who posts on the XJO forum often says "news has nothing to do with the market". I agree to a certain extent and while more relevant to the indicies is relevant to stocks as well to some degree. How to explain the move in CHN yesterday when nothing fundamentally changed with the company.

Now there was the Africa presentation earlier last week but that is not a fundamental change with the company. If todays buying is an extension of that then that gives me more confidence that the sp will come back. I find when the sp rises on the back of a presentation, tipsheet recommendation or something similar that is not a fundamental news announcement, the sp nearly always comes back to where it started from - in this case 31.5c.

El Capo