This is just technical trading between news releases. Its also similar to price movement of other agri stocks. Compare pps movement of LGDI to say...POT. Almost exactly the same thing. In my opinion, the pattern seems to be:

1. news release or optimism pushes stock to new 52 wk. or recent high: positive drill results, info on high volume IFCO stock purchase, Wengfu parnership, Australia market debut, positive analyst report, positive potash analist report, increased exposure in articles, etc...

2. there is some slight profit taking, followed by resurgence of buyers who feel like they missed out. This pushes up price but can't break previous high and forms a double peak

3. when people see they can't break the recent high, excitement wanes, and price gradually falls for a while. It is supported by previous recent high which is now bottom support. For example: upper $.6 high established in April, $.73 high in July falling back to $.6 support, $1.06 high in September falling back to $.73 support, and recenly $1.5 in Dec/Jan falling near old high at $1.13 support.

4. This is when people who are accumulating start to buy some more, at the lower recent price.

5. news release causes another price jump that breaks previous high.

My assumption is we'll be technically supported near the previous $1.06 high support back established back in Sept/Oct. I just bought some more at 1.13 and have another open order in case it falls closer or slightly below past support.

Of course this assumes the next release won't be bad news. But I am very optimistic, especially on a macro scale. Australia was one of the only countries to not enter a recession during the world crisis, and China and India seems to of weathered the storm extremely well. We're definately in the right market region & industry. Its also interesting to note that the PPS recently increased significantly while the USD increased (compared to AUD). USD increase is generally headwind...while USD falling is tailwind to PPS.