Folks, from todays daily reckoning ....it seems quite fitting...

Folks, from todays daily reckoning ....it seems quite fitting due the general theme of this thread.

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--Why all the action in nickel stocks? We took a look at a five-chart for nickel and then asked our new technical analyst and trader Gabriel Andre what to make of it. First the chart.

--What does it mean? We'll let Gabriel explain. He's the technical analyst and trader.

--"It could be a good time for a rebound. The nickel price has reached a long-term support line. This support is a former resistance line with highs in 2000, early 2004 and 2006. The break of this line during August 2006 triggered a strong bullish trend."

--Sounds good so far. He continues, "As usual in the markets, the new high became-and remains--the main support line. Indeed, the price rebounded sharply on this support after the sharp sell-off in last August, which confirms the validity of this technical line."

--But is nickel a buy right now? Gabriel says there is a risk. If the support doesn't hold, the price will fall further. "Since the beginning of December, the price is just above this strong support. Technically speaking, the break of this support should trigger another big sell-off with the other long-term support line (through the lows of 2001 and of 2005) as the new target."

--Words matter, as we mentioned yesterday. A sure sign that the minerals boom is maturing is the filtering down of specialist knowledge to the retail investors. It is not enough anymore to know that resources in a bull market. Or that nickel has made what looks like a double technical bottom and has found long-term support. You have to know more.

--For example, there are two kinds of nickel deposits. Nickel sulphides are harder to find but higher grade. Nickel laterite deposits are easier to locate, but harder to process. Nickel competes with zinc as an alloy for making stainless steel. Is the nickel price forecasting demand growth, or supply constriction...or nothing of the sort?

--By the way, before he became an iron ore Baron with Fortescue, Andrew Forrest nearly became a nickel baron. His master plan was to use a new process for turning laterite ore into nickel in Western Australia through his vehicle at the time, Anaconda.

--Prophets are never honoured in their own time. The process Forrest trumped for treating the laterite ore didn't quite come off the way anyone expected. He parted ways with the project, which has since become Minara Resources (owned 40% by Glencore, the behind-the-scenes partner in Xstrata).

--"Minara trades at less than half the P/E of the rest of the resource industry. The question going forward-and it's worth a look-is whether the company can contain costs," says Outstanding Investments editor Al Robinson.

--Determining resource quality is also important, as Minara and other firms ramp up brownfield and greenfield exploration all over Australia. Incidentally, Al has also written an article on how reserves and resources so they are compliant with JORC.

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I contunue to hold, although I have taken profits along the way as I have been in this stock for a couple of years now.

Best of luck to all holders ..

Kooyong