Quartet Resources LTD (QRL.P)

[Long Jon Silver]

Queenstake's chart exhibits a bullish piercing line pattern on 9/14 and 9/15/06. By definition a Bullish Piercing Line Pattern is a bottom reversal pattern. A long black candlestick is followed by a gap lower during the next day while the market is in downtrend. The day ends up as a strong white candlestick, which closes more than halfway into the prior black candlestick’s real body.

Recognition Criteria:

1. Market is characterized by downtrend.
2. We see a long black candlestick.
3. Then we see a long white candlestick whose opening price is below previous day’s low on the second day.
4. The second day’s close is contained within the first day body and it is also above the midpoint of the first day’s body.
5. The second day however fails to close above the body of the first day.

Perhaps it is time to take long positions... let's see if we can't get a white candlestick, a large gap up or by a higher close on Monday!