MOY - Bullish Weekly Chart, page-16

If 20 cents goes, look out above.

I read the Far East Capital newsletter by Warwick Grigor last night. Very, very, very bullish on resources.

"
A major buy signal on the Metals and Mining Index chart
The most telling of our chats is the big picture on the Metals and Mining Index. It has broken through a long term resistance line that augers very well for the future. It first broke though this in early December, then it experienced a regulation pullback. The move since then, the very strong move since Xmas, confirms the breakout. We are now in a new world of expectations where the market will be performing â?oabove the lineâ?.

It is important to recognise that we are not talking about value or fundamentals. While these are important over time, they play a secondary role in determining daily stock prices. Fundamentals influence the sustainability of movements, but they donâ?Tt initiate them. Sentiment is the emotional ingredient that moves markets and that takes it to its extremes. "