G'day Ramen,Thanks for your question.The short answer is that...

G'day Ramen,

Thanks for your question.

The short answer is that I'm not a believer in setting SP targets because I have no influence over achieving them. Hitting a bulls-eye with a .22, grilling a steak to just the colour I want or driving a rally-car over a special-stage within a time-limit are all things I can control ... but not where a SP goes.

I essentially watch the interest (or lack of it) in the stock by the numbers of buyers and sellers. That's why I mentioned the shortage of numbers this morning compared with what I usually look for (>100 buyers with a 2/1 buyer/seller ratio or better).

We started out (I think) with 37/17 and now (1515 hours FRI) we're at 40/14 ... and the price has increased slightly to 81 cents - having got to 82 earlier today.

That's a good result but there still is only light interest; so far just 37 trades with only 311,000 shares changing hands.

The stock has done what I thought it should do (as I mentioned) based on the pattern it had finished with yesterday afternoon. Provided that it doesn't sell off at the close, it will show an even stronger climbing candle when I update my Pro-Trader charts tonight.

All that said, this stock is at the beginning of an up-trend (long may it continue!) so I'm looking at the first and second levels where breakouts will occur. They are at 86 and 93 cents in sequence.

If the stock closes at 86.5 and then 93.5 cents in the near future you have breakouts ... and they almost always lead to higher SPs.

SXE has done it very nicely today so far (thank you very much) and I'm looking forward to seeing the chart after up-grading this evening.

Hope that helps, Ramen. have a great weekend.

Stops in place, always!
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