ABY - Aditya Birla Minerals

[newanimal]

Technicals/Pennant looked promising so I jumped in at .55 before the break. Copper trend looks good too.

 

[wtang89]

First of all, Congrats man SkyQuake, i was looking through your portfolio (i also was in the competition) and damn....you racked up some brokerage . Alot of day trading eh. You going to their award ceremony?

and yeah, i have a good batch of ABY stocks too, hoping for a third run although we shall see if ABY can break the 60c barrier which is proving to be difficult.....Also ABY went down despite the market gaining like 60 points? Any ideas anyone?

 

[fureien]

wow congrats skyquake. the reason why i was so surprised was because i was watching you throughout the whole game, and started the mimick your portfolio lol. i must say i made some nice killings...shame only half of it was in real life. alas better luck next year XD

back on topic though,

a few other stocks went down despite a nice market recovery. i belive it was mostly profit taking, or "dirty action" as skyquake likes to put it =)
remembering its only been a day that the stock has recovered for over a week.

ive been seeing this pattern all over the market in all sectors. heaps of downward or horizontal movement, and recovery during this week, but very weak recovery, mostly from profit taking by people wanting to get out. take gmg as an example.

 

[wtang89]

I agree with you fur about profit taking being the reason for ABY's slight fall on friday. But GMG is in some serious financial trouble, i for one will not go in it for a while (i bought into it a while back at 38c and sold it a few weeks later for 45)...i was hoping for news that its debt due at the end of may will be extended or met...buh the news did not come and so i sold it. Luck i did coz last time i checked it was hovering at the 25c mark ^^. Will be interesting to see how ABY performs on monday if there is another market increase. What prices you guys think ABY will hit (in the SR)?

 

[adobee]

ABY written up as best performing small cap in Financial review yesterday since the economic meltdown.. something round 500% return.. wish I had the kahunnas to pick them up and hold them at 20c as I was thinking to.. Suprised nobody else is on it.. Still looking pretty positive at this stage..

 

[4fundamentals]

Hi Guys,

I'm a beginner investing within Small caps.

I bought this one alittle while ago, I sold on Friday (12 June) for $0.735.

Any guesses where this stock is headed?

I hope not too much further up......otherwise i'll look like an idiot...hahaha.

Thanks for any input.
Regards,

Boh

 

[wtang89]

A pretty sharp fall to the low 50cents these last couple of days, believing it to be a combination of profit taking and commodity price fluctuations, i buy back into ABY. What do you guys think?

 

[adobee]

Anyone on it ??
Potential breakout today at 90c..
I am considering dropping a few now cause I am not confident it can close this high.. that being said limited sellers..

 

[adobee]

$1.05 ... resistance broken... hope it can stay up around here..
jack all sellers now.. hope it doesnt get dumped come the end of the day..
who knows where to from here ..

 

[OZInvestor]

Guys,

Any idea, why ABY is been going down for the last 4 days, even when the market was 50 points up ..
Any information will be GREATLY appreciated ..

 

[adobee]

maybe cause it has been going up for past nine months and needs a break.. maybe cause people think the copper price is getting ahead of itself.. maybe cause there were some profit takers at 1.60..

 

[skc]

Guys,

Any idea, why ABY is been going down for the last 4 days, even when the market was 50 points up ..
Any information will be GREATLY appreciated ..

ABY started turning south from 14 Oct when the announcement was made to market that PAT would be $28-32m for 30 Sept half year.

This number is actually not bad, but perhaps market was expecting more. An uneducated guess of doubling that figure for the full year gives $60m, and puts ABY on a PE of ~6.2 at $1.2.

On the chart, it's entering the downleg with some vigor so pick bottom at your own peril. $1 zone seems to be the next support area. The copper price will determine whether it gets there or not I suppose.

 

[tommymac]

I sold out today with a big profit as it was getting close to the $1 zone. If it breaks that who knows where it could go.

When the market stabilises I may look at getting back in again because I think the potential for this company is big, the market just doesn't like it right now.

 

[skyQuake]

I sold out today with a big profit as it was getting close to the $1 zone. If it breaks that who knows where it could go.

When the market stabilises I may look at getting back in again because I think the potential for this company is big, the market just doesn't like it right now.

Shorting am i right? Where did you get borrow on that?


Bought a parcel today. Goldman's average selling price for the last week on ABY was $1.49 lol; All the other brokers are like 1.25~1.30

 

[skc]

Shorting am i right? Where did you get borrow on that?


Bought a parcel today. Goldman's average selling price for the last week on ABY was $1.49 lol; All the other brokers are like 1.25~1.30

Based on his wording it is certainly long.

Based on his post count I would say "Show us the trading statement!". although I have no intention of donating $500 to ASF...not after this week anyway

And SkyQ - what's your thinking behind today's parcel? Just a quickie? I can see a gap fill to $1.15, but not much after that. Depends on the overall market of course.

 

[skyQuake]

Based on his wording it is certainly long.

Based on his post count I would say "Show us the trading statement!". although I have no intention of donating $500 to ASF...not after this week anyway

And SkyQ - what's your thinking behind today's parcel? Just a quickie? I can see a gap fill to $1.15, but not much after that. Depends on the overall market of course.

General market bounce possible, even if the dow craps itself tonight, there should be a decent squeeze tomorrow. ABY was a good candidate because 26th looked like decent capitulation. 27th was the mopup of whatever big order that sparked it. 28th was higher high, higher low green bar that suckered people in.
Today everyone got stopped out when it just collapsed.

Based on that, most of the sellers have been flushed out imo. Good risk/reward. (unless that big seller is still not done which is unlikely)

 

[skyQuake]

And imo that break of 123.5 prev swing high was a false break. Out and happy

(But will probably put on 30% after i sell as most things do)

 

[skc]

And imo that break of 123.5 prev swing high was a false break. Out and happy

(But will probably put on 30% after i sell as most things do)

Well done! What R R did you get?

I looked at it in the morning and thought a 10% gap up was pretty good but haven't followed it since. It does look heavier above $1.25.

So many stocks at the low end putting in island reversal today.

 

[skyQuake]

Well done! What R R did you get?

I looked at it in the morning and thought a 10% gap up was pretty good but haven't followed it since. It does look heavier above $1.25.

So many stocks at the low end putting in island reversal today.

Agree very much so with the island reversal. Even NAB put one in. But the big end of the market feels a lot heavier. Most have closed gaps rather than forming the island.

Expected RR 1:2 - had a 3c stop but assumed it could gap down 6c the next day so had risk = 6c
Pleasantly surprised by GDP figures, sold 1/2 at gap fill. Rest at test of prv swing.
Using a 3c as risk felt wrong as did using 6c. So in my log i put it as 4.5
I'm sure theres a better way to do it though lol

 

[It's Snake Pliskin]

Anyone following this one at its current price?
Fundamentally how does it stack up considering one of the main holders increasing a stake mid last year?