Polymet Mining Corp (PLM)

[Imperial Whazoo]

EDIT: Not changing the comment I just posted, but I also need to add this.... the volume on the 6/12 was higher than that of 6/11, which would tend to mean that the days after 6/12 would have continued down. BUT THEY WERE NOT!!!

So, if today turns out to be both down in price and up in volume, it does not necessarily imply that there is going to be more down action in the days to come. After all, the news causing yesterdays price move is the best yet.

JMO, folks. JMHO.

Original post:
I've got a yearly chart up and it looks to me like this: the price move of 1/31/18 was at a daily chart high.... It was a big daily price move, just like yesterday. There had been a relatively steady 2 month climb in price, so, ipso facto, the 1/31 price move was a topping action.

As would be expected, there was no continued climb. Price declined from there until 6/11/18. That was a big price rise in a day, just like yesterday and 1/31.

What I'm doing is comparing the chart behavior of each recent "Big A$$ White Candle" day. So, when the BAWC on 1/31 was at the top of a chart range & the one on 6/11 was at the bottom of a long pullback, the question is: can we extrapolate something helpful from these evidences?

I say "YES". Look at the BAWC yesterday. It began, like 6/11, at the bottom, not the top.

Here's what I'm hoping is true: the 6/11 BAWC was followed by a pullback (6/12) but, in that the BAWC was at a chart low, it just so happened that the next week saw a climb.

I look at the action both 1/31 and 6/11 and conclude that it matters WHERE the BAWC occurs. At the top, there is a pullback over time. At the bottom, there is more upside than just the one BAWC day.

My guess, and I'm counting on this because I did not bail at 1.25 today, is that the pullback of today, WHICH IS AT A BOTTOM, is a pre-cursor to more upside in the near future.

And this matters: THE ACTION YESTERDAY WAS ON THE BEST NEWS OF THE PRIOR BIG MOVE DAYS.

So, here's hoping that the chart tells the story, not the level 2 action and the smash down artists.

Not guaranteeing anything. Just trying to read the charts.

Imperial Whazoo