Voltalia Ord Shs VLTAF

RE: RE: Like I said the other day.....

[VentureTrader1]

We're victims of the seasonal influence, some political instability in the region, and now a protracted downtrend that will turn off all the momentum players until it turns in a definitive way.

The market has been ignoring the drill results because they're infilling an existing resource, not a new discovery.  I don't think I've ever seen infill drilling generate a big price jump.  What it does is for those who know a little more about the play, is increase the probability that when the resource estimate comes it, it will be a nice bump over the current resource estimate, and it will be that + a move into August-September that moves the price (or a new discovery at Nassara, which is also a possibility).

I still feel that the volume increase last week was very bullish.  There are times when the best bet is to cut losses and move on, but for me this isn't in that category (at least not yet).  But I also think that the entire sector is probably going to sell down now into mid-to-end of June, and Volta will probably retest the 1.20 lows (or worse) right into the timing for the revised resource estimate, and then we'll see the big pop, at the same time the entire sector bottoms out and reverses.  I'd love to see a really brutal down day on high volume after a week or 2 of low-volume selling.  I'm setting cash aside to buy into those lows.  If it doesn't happen, and the price just goes up, that would be fine too. 

GLTA