about to break upwards me thinks.., page-26

Dear Mitis,

I do apologise for my post; I was looking for the dog to kick when I came home. I know you have been involved for RIV for a long time. So let me have another go....

I know nothing about RES. I will look into the company and post my thoughts on the RES thread. There were a number of inaccuracies in Weinherschnitzel's post on RIV, so I, hopefully, have set the record straight for you there.

As to the short; there was a time prior, September '08 when RIV was oscillating in a trading range of 8.50 - 6.00. There was good money to be made trading the parallel pattern. Your strategy would be valid, if were return to those conditions. I do not believe we are there yet.

This current rally is too strong. ASX followers tend to focus too narrowly on the DOW. You should be looking to the S&P. The real leading indicators of the S&P are the NASDAQ and the DJ Transportation AV. Both of these have broken above and tested the 200 MA's. There have been successive bull flag patterns, that suggest that this rally will continue. The longer it continues, the more money, that has been waiting on the sidelines, will come in to play. Also watch the USD Index v. the S&P. While the USD continues to weaken the US market will raise.

Give this, the risk/reward of a short in the general market would not be worthwhile at present.

As to RIV specifically, they will be coming out with some great updates on mine financing; transport-to-port agreements; and resource upgrades over the coming months. I hope you are holding. Watch for additional off-take agreements (like TATA), with their other leases. Just pray there is no TO, as there is still an ENORMOUS amount of value still to be unlocked by RIV.


barrabob......LOL, no I am not racist, nor a retard. Better not tell my Lebanese wife I'm a racist, she'd give me the boot..LOL. I love the sound of Schnitzelboy....might even change my login name to it. I am not "politically correct".


Cheers, Skip