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volume much better today. we should get a clearer picture today.

Sweeping Stateside statement on the short term speculator thing. I agree it's better for your health, but not necessarily your wallet! Pro's and cons both ways. Having said that Stateside investors are most definitely quids in here.

Anyway Gentlemen, ladies, I believe we've hit the bottom.

chiva, i'm still not sure . every time there is demand for the shares the price moves up quickly and kills off any momentum.

There seems an awful lot of investors sitting on the sidelines waiting for the right moment to get in. 20p, seems the favourite level. This will only take a small nudge up and all those waiting will start to jump back in and precipitate something of a buying spree. Herd mentality will kick in, frightened they will have missed the 'bottom.' Last three days have seen pretty much buys equal sells, so no real reason for a continued decline. Also beginning to look oversold now, so hopefully won't fall much further.

I tend to agree with Seq vis-a-vis MMs. Everyone screams that the MMs are playing games when their share falls, when more often than noy they are just doing what they are paid to do - make a market. But it does look like they are playing with this one.

pth

pt- agree its just too much ` off pat` , the way it keeps see-sawing, whats happened to the 40+m shares floating around anyway, this must have a bearing surely?

Couldn't wait any longer, topped up this morning and up already!!!!!!

Damn & Blast - one of my CFD's triggered its stop loss this morning @21.75 - which I had forgotten. - took my eye of the ball there.

Baza

Andy - good timing mate - wish I could have said the same about my CFD.

Baza

nice one AndyS. had another small flutter myself this morning.
Seq, I don't really think the 40M shares are much of an issue at the moment. Wherever they were placed, the holders do not seem to be going for a quick profit, rather hanging on for the 'real returns'. I would expect them like all the rest of the shares to be sold when the time is right and perhaps not for some time yet.
If the SP can gather a little more momentum, an awful lot of people will be piling back in today. Come on you herds, don't miss the bottom!!

pth

must admit I didn`t bother with a stop loss this time, just as well probably,
- good to know pth

Grim baza - I've been watching like a hawk, I've learned that harsh lesson more than once - had to move one or two of mine down a couple of times. I hate doing that goes against my normal logic of these things. Hopefully I'll be glad I did!

Nice to see blue, I believe we'll see more of this again on a build up to Monday once again

apologies for doubting you, chiva. looks like you called it right.

I agree with you, ptholden. I would think that the 44m shares were bought for long term investment. I don't expect them to be sold for a long time.

You should check out BOR. Up 17% and further to go.
wilbs

Just about 1M buys in the last 30 minutes and NO sells, bound to change of course, but are those sitting on the fence about to miss the bus?

pth

I hope so Bos! This has been quite a retracement from the high, so I favour its due a lift up again.

Looks like we may be turning up, but there was a recent 600,000 sell at 22.25 - could be part of the 44m which could indicate more selling into strength to come which will keep the SP capped until whoever is selling has offloaded enough. There may well be a sell programme as we move up as each placee takes its money out at pre-determined profit levels. But it's only 5% of the issue, so won't hold us back for long much eventually.

I'm still happy to have topped up on the way down at the beginning of last wek, missing the best price available today by only 0.38p.

Mid to long term view, don't wait for 20p - it's irrelevant. If you want in, buy now. DYOR

sd

Well said Stockdog - 20p is very irrelevant - waiting for the optimum dip can often leave you wistful

sd

Not sure the 600,000 was a sell. Timing of the trade placed it mid price, so who knows? Probably doesn't really matter.

pth

I see stockdog has got his clock wrong - thinks its evening; I wonder what he was up to all night!

Agree the comments re MMs but they will be influenced by what they know in terms of lines of stock in the wings. They do seem happier to move sp down to bring buyers back in and presumably discourage selling. The 600K could well be a buy given the timing of the deal. We are back in the 23p to 20p trading range but with a new strong support at 21.25p. Doesn't seem likely therefore that the sp will retrace as far as 20p. Seems evidence of shorting once the price rises and some enthusiastic buying when it falls. A real bull/bear battle - Waterloo with the bulls the good boys because they will be the ultimate winners! I wonder what happened to The French Connection.

baza: my advice is not to set stop losses. blue index, for instance, love you to set them. But they call your position, if negative, on a Friday which basically has the same effect; but it gives you the chance to review what you are selling. I have had to sell SEO on the way down but that mans I am now much less vulnerable although any buying back will be into strength on the way up.

I think the investor/trader contrast is somewhat artificial. I am something of a hybrid (not sexually!). The argument is rather between the fundamentalist and the TA. At present, the fundamentals remain strong but the TA is weak although with strong support at just below the present price. For those trying to judge their actions, I suggest the 3:1 rule, i.e. upside to downside. The support is [probably 21.25p and the resistance around 30p so that makes a buy on TA at up 23.5p. On fundamentals it is an on-going 'accumulate' as funds are available with no discernable limit to the upside potential.

Eric