Sxx

Interesting post Jackozy, thank you for head up on this.

Just one question, not been following this news wise recently, is there a reason for this big drop??

Have the fundamentals changed on this?
Anyone up to speed on the news with SXX?

Thanks,
Trendfriend.

Basically planning permission application for the mine in North Yorks has been shelved until August 2014.

Thanks SRB - I didn't know it had been shelved for that long! All the more reason to treat and long trade here with extreme caution and bank profits if you get some. There's likely to be a lengthy general market correction between now and then...

This has been yet another lesson in selling major resistance and/or not buying until it closes above that resistance. A close above 30p was required to open up new highs here and it just never happened.

Another spanking for AIM investors I'm afraid...take profit, protect capital by using stops and don't be greedy. Easier said than done mind!

We're getting very close to the key support at 6p here now. If this bounces there it will have been a perfect play from the 30p double top target. Here's the daily chart from yesterday's close:



dl.dropboxusercontent.com/u/20815047/FTS...SXXdaily07_11_13.png

Make sure you have stops as this drop has been severe so there's no guarantee that it will hold here.

Hope some of you managed to get into this near 6p. Should be a free trade now.

Possible negative RSI divergence in play and 8.5p resistance held (previous support) so stops should be at b/e here.

I'm now waiting for a trendline hit at c. 4p or for a 123-low breakout on a close > 8.5p.

This moved > 30% in two days so plenty of profit should have been banked here - if not then you've just been greedy!!