RE:RE:This move is not a surprise !TX, you are actually making my point on TA. When you say the “market suspects”, what you are talking about is the collective knowledge, sentiment, believes, hopes of thousand’s of investors in the market.
You can’t know what the insiders know. You can’t know what everyone working in the area knows. You can’t know what everyone perceives is going to happen on the next news release. But collectively all of these investor’s knowledge or perceptions leave a FOOT PRINT in the price action of the stock. It is that Footprint that can be pickuped and it shows what this collective body of people are doing. I’m not just talking about a price pattern I’m talking about other tools that have to be used with the patterns to determine what they are saying. And everyone has to realize collective wisdom can also change rapidly depending on all the factors.
So yes I agree with your statement—“ the market suspects NVO are in the process of unveiling a complex alluvial system at Comet Well. Kilometers of strike. And it appears they are finding multiple strata rich with gold. It's an open surface operation and word is getting out what appears to be a massive find.” What you are describing resulted in as PanamaJack pointed out the breaking of a down trendline, the stock price going sideways in a consolidation and the money flow indicators showing that there was accumulation going on. This was the Foot Print and reflects this believe that we are finally getting somewhere with this project. It reflects the second and thicker conglomerate.
I know my words will probably be wasted because people either understand what TA is telling you or they don’t and they just throw it off as so much worthless VooDoo. I’m not trying to convert anyone to TA I’m just posting my views on what the VooDoo tells me the Foot Print of the market is right now.