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PD, according to my TA, the immediate trends are all upward (both weekly and monthly trends)!

Personally, the only two occasions (immediate term) when the SP will retrace is when spot price of energy (oil & spot coal) retrace big time. Currently, the oil price is only being held up (very weak though) by the talk of Hanna thus the chance of a big retrace of oil is very limited (spot coal will also held ground).

The next retrace is ex-dev date ie if the recent buyers were all short term traders.

For example, the 9.8% drop last week was on the basis of 15.7M shares change hand. The raise of the previous week was on the basis of >70M shares. On this basis alone, there is still plenty of bullish momentum to push the SP back up. On a bigger view, this upward has started back in Mar 07 and the biggest fall to $2.91 in 14 Jan 08 dent the trend only slightly (ie only kept it down for 3 weeks), and in the space of only 6 month the price had more than doubled to $6.35 high reached on 24th June.

For the long term view, the trend will push the SP to at least doubling every year (quite easily and regardless of how many retraces in SP), and I still see my previous 7 bucks target will still be reach within this yr.