Daily Murmur 17/06/11

by Gary Glover

Although we covered this in the stockwatch video this week, I thought it pertinent to cover this stock again.  These blow off type of trends (vertical markets) all end the same way, with a 90 day last gasp move.  The last couple of days tells me time is up and also it has struggled to go to a new high the last two days which indicates it has run out of puff. 

Once this breaks lower the first stop is the last swing low before the last drive which is $12.00 in this case.  I think you will surprised at how fast these things normally fall after these moves complete.  I am expecting a fast move down from here.



Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?