If he can nail all those predictions in a market that operates on possibilities and at best probabilities, then we should all chip in and buy his crystal ball. It'll be worth every cent.
You may have a handle on this or maybe not, but those statements feed our minds with everything we want to hear to give clarity to an uncertain situation. If we don't actively critique those statements our minds will be happily seduced all day every day.
I think the sellers are just exhausted after eight months of downtrend. If you check the chart on the previous large correction, it took 21 months of predominately sideways action to correct the high of Jan 2014. This correction only took eight months but was hurried along by a concurrent 75% reduction in price. By finding support at the same bottom trendline, we've reached the same level of exhaustion and we're just due for a meaningful run up. From here we all should be looking for as many clues as possible as to whether this is the start of a very significant run up, which may evolve into dividends as is often discussed. But it's not impossible that it could be just a large correction up in a deeper downtrend so keep your wits about you.
Have to say though if we get sniff of success in these tenders, my money is on a significant new bull run.
NAG Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
