Agreed Assyrian, there is much to be bullish about with VBA. But perhaps also some caution. As we all know, prices don't nicely head up in a straight line.
Some back of the envelope calculations - at today's close (70.5c) VBA is up 542% from last March's lows. Since hitting 53c on 5 Feb 2010, VBA ran up to 80c until seemingly running out of steam (up 50%), pulled back to 66c (still a 24.5% gain from 5 Feb) and recovered some ground to today's close at 70.5c (up 33% from 5 Feb).
The XJO has also had a great run since 5 Feb - up 432 pts (and up 1776 pts in total from last March's lows).
However for the past six months the XJO has been trading sideways, between approx 4500 to 4900 and is now back at the upper end of that range. This time we may push through. Or maybe not.
IMO the uptrend for VBA remains intact -- just not so sure of the market's overall direction in the coming days/weeks. I'm not discounting the possibility of further short term weakness for VBA before it heads up again.
The Govt travel tender announcement could be the catalyst to propel VBA upwards. Does anyone know when that is expected?
big potential , page-12
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