Developing phosphate interests in the Georgina Basin, Queensland, Australia

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Message: Exciting morning - profit taking - strong volume - price substantiation

Exciting morning - profit taking - strong volume - price substantiation

posted on Sep 21, 2009 01:19PM

All,

In watching nearly a million shares change hands all in relatively low volume trades this morning, I for one am encouraged to see that some profit taking and short selling is having little impact on the new price substantiation that was was established on Friday.

I am willing to venture that $1.00 is the new floor for the share price and that the profit takers and short sellers activity will dry up within a day or two. The float is too small to support this level of activity for too long.

Any other thoughts on this topic ...

Please share your opinions

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