No problem, Bobcat.
We are here to exchange perspectives, ideas and information - none of us claim to be always right.
Well, there is one or two like that - haha.
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Who is this big seller trying to pop the stops!
115c was always going to provide some resistance. As soon as there were bidders at 115, and a single trade went though at 116, the selling began. 115 was last Wednesday's support base which last Friday became the new resistance (after the sp was driven down from 120 and straight through 115). That resistance was tested Friday and has been confirmed today.
I suspect we will not see the sp rise above 115 again today but, unless the NBI tanks tonight, will IMO be busted tomorrow on its way through to 120 which is where I'm expecting more aggressive resistance.
Trading to it, with an offer currently sitting at 119c.
Meanwhile, support now coming in at 111c (previous resistance now turned support) again after a single trade went through at 110c.
BC
So just who were the buyers this morning from $1.09 up to $1.16 surely not the same person who dumped all the way down from $1.16 down to $1.10 in such a hurry.
OK Im going to go against the trend here and remind all that at that time it was VERY uncertain what the markets were going to do--and we are not out of the proverbial woods yet IMO--I feel it could have gone either way.
Alot of traders will sell on a rise to get out after a root like we had.
Last night was more of a confirmation,but it was not a real rally.
If I was holding ,I would be relieved--but not to Cheeky
If its more of the same at weeks end(thurs) maybe then get out the champaigne
No reflection on you BC,just my 2 cents--You set a stop loss and stuck to it and that is commendable, and so far you are on the money--credit where credit is due :)