Movement in a stock price and the direction of that move is a function of the imbalance of buy and sell orders.More buy order mean higher prices, more sell orders, lower prices, which in turn translates into upside or downside volume.These price movements , over time, establish trends and trend lines and in the process create important support and resistance lines.The major trend lines, the 50 day and 200 day moving averages (MA's), can be obtained free of charge at stockcharts.com.A study of these charts can be helpful in making investment decisions.So much for 101.

Now, for Which Way Omagine. How does the above relate to Omagine?The activity in OMAG has been so weak of late that it's been meaningless in providing any real clue as to any meaningful trend. The Ministers still appear to be in charge. The stock has been hovering around its 200 day MA having dropped below its 50 day MA in mid January. There is little buying interest in the stock right now.Fortunately,there has been little selling pressure thanks to our patient, long suffering shareholders who never abandoned ship, recognizing the huge potential that exists for the stock. At the moment, it's pretty much a standoff. In spite of the current investor apathy that exists, the stock's potential has not been lost to the investment world which is aware of the $2.5 billion Omagine Project, its land estimated to have a value of $700 million and its Book Value estimatedto be in the low to mid 20's.

I submit there is a ton of money just sitting on the sidelines in the hands of new "smart money" waiting for the Ministers to finish mulling things over.This smart money will remain on the sidelines, patiently awaiting clear confirmationof the Government of Oman's commitment to the Project,thereby avoiding jumping into an empty pool.There will be plenty of water in the pool when the yellow light turns green ( A positive sign, similar to white smoke seen rising from the chimney in the Vatican).

On an earlier "conformation," October 2, 2014, upon the signing of the Development Agreement, OMAG jumped from the Oct. 1 closing price of 1.64 to a high of 3.94 on Oct. 3.This is a good indication of what "smart money" envisions will happen witha real confirmation.With aBook Value in the 20's, this $2 stock could become a 10-bagger. Something worth waiting for.

Which takes us to "which way Omagine?'I don't have that answer.if you want an answer to that question, ask the Ministers, the ball is in their court.