We appear to have suffered from the Curse of the Bollinger...

We appear to have suffered from the Curse of the Bollinger Bands.

Note how when the SP gets to the top of the band, or god forbid, it dares to stick it's head outside, it often gets beaten down. During an uptrend … like us … you often see the SP in the top half of the bands. Conversely, during a downtrend it tends to trade in the bottom half, and bounce when it hits the bottom of the band.

We now have a clear uptrend line, with a clear resistance level at 1.8. We're rallying the troops to have another crack at it - possibly early next week. If we get through there, we will find the next level of resistance at 2.1. There were 70 million shares traded around this level about a year ago. When we hit 0.009, these poor souls were down 57% on their investment, so when they get the chance to get their money back, quite a few will oblige.

All of this means stuff all if we get the big announcement that we have our fingers crossed for, and these lovely charts will get trashed.

Alternatively, if we get to the end of January with no announcement, and also with little cash, this could also affect the prettiness of the charts.

I'm hoping for the former. Very nice little nearology play - with no guarantees of course.