Looking at the PINK trendlines I have drawn on this chart, we can see the break of trend, then an immediate Re-test of

the break level. Should we see a close on or above the trendline, then an open the following day higher again, we would have

a buy entry. We entered this trade on 7th July 2003 @ 28c. Target will be the longer term downtrend illustrated in blue.

(aprox 45c, which will yield a nice 60%)

Stop loss will be a close below the PINK downtrend line.

DISCLAIMER: These are my thoughts only and NOT advice as I am NOT a licensed advisor.

Please consult your stock broker for advice.

Update 5th August 2003: OOPS ! Placing orders in the market at pre determined levels is a good idea, however, it definately

pays to keep an eye on them. In this case I placed my sell order in the market @ 44.5c, but as time goes on, we have to lower the

level as the downtrend line comes down with time. If you look closely at the chart below, you can see what I mean.

I should have amended my sell order to 43c in which case I would have   been filled today. All i can do now is HOPE the

stock opens positively tomorrow ! The first sign of weakness tomorrow I will take my profits.

There is an old saying among wise traders that goes like this:

"Never let HOPE play any part in your trading plan, the minute you find the word "HOPE" in your trade.........EXIT!"

Update 6th August 2003: The stock has been placed in a trading halt pending the release of an announcement. What this means

is that the company has some news to announce (which could be either positive or negative) and you cant buy or sell shares until

the announcement has been released. So we have to wait until then to decide whether to sell or hold, hopefully it will be positive.

Update 8th August 2003: Today the company released their announcement, and as you can see, investors were initially keen

to buy it up, so much so that it opened at 50c, which is good for us considering we still had our sell in the market at 44.5c,

so we ended up getting more profit than expected ! After the stock opened up so high, investors immediately took profits,

nocking it all the way back down to the price they were trading at before the announcement. So we ended up with a nice

77% !! Interestingly though, the price has now broken a long term downtrend, even though it sold off aggressively, we will

be watching this one closely for another entry.