I am overly optimistic regarding potential rates sdaji so you're not being autistic and I also don't overly believe in T/A, but it does provide a realsitic glance of SP performance. I was just summarising what T/As would say, given little interest is being shown in PYM and let's face it, HC is mostly a d/t short term snatch and grab type of culture rather than hanging in for 6 months to a year so T/A appears to be the main backdrop for others to take a short term position.
eg. the drop from 9.9 to 6.3 in Nov would have bundled many out (hence the drop) & the drop from 13 to 9 in January would have also bundled traders out - ironically,t within a few days we hit 14. Those who sold during technical breakdowns and stop losses have missed out on the multiples, assuming they bought from May - Aug 2012.
Therefore by me stating T/As would state that last Tuesday's run was very bearish when analysing the candlesticks - it was, in fact - it probably couldn't be much worse, but occasionally, it serves to push the technicals aside to bag the real money.
We'll see whether I am right here within a few weeks. A slim chance does exist that this drill could be a monster and I'm happy to wait it out. I've been lucky in that I was initially buying under 3, so this is why I am biased to the upside. * T/As would like to see a firm close at 12.5/13 before re-entering I feel.
PYM Price at posting:
11.2¢ Sentiment: Buy Disclosure: Held
