what was that!!, page-21

I have no problems with the fundamentals of this company at all. Long term holders won't be bothered.

Technically, however, things are not as clear cut short term. Sentiment is edgy as we saw last Friday. Reconfirmation of half year guidance last Monday was quickly forgotten by Friday with a falling DOW.

The 50 Day MA is arcing down now (not experienced with IDL since last March). This is bearish. Shorters know this and will capitalise when they can.

The descending symetrical triangle formation that begun last October broke downwards last Friday; confirmed with a close below 42c support two days in a row. My projected target based on this pattern is 33c.

Until I see bullish indicators start to emerge, I will look for trading opportunities and accumulate where appropriate.

If price fluctuations don't bother you, many smart investors will be accummulating now. Unfortunately I don't have the nerve to disagree with the market irrespective of my belief in the company. Something called the GFC made me that way.