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CEY - Centennial Coal

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Do you think CEY canbe a takeover target like EXL?

thx

MS
 
Well, I'm not sure about a takeover target but....

I have been watching this one since the capitulation seen in mid November and whilst I am on the sidelines at the moment, I have a feeling this one is going to recover. The lows down to 2.45 attracted heavy volume and it wouldn't surprise me if some of the longer term holders took a stake at these levels. Since then, the stock has been in a sideways pattern. Sideways movement like this, whilst they can last a long time, builds pressure - a break in either direction would commence in a strong fashion. I favor an upward movement here.

Cheers
 
CEY are still the largest suppliers of thermal coal to NSW power stations. The recent bullish article on thermal coal prices for 2007/8 will give some confidence at Centenial. Once the company gets itself straight it will become good value at the present price, imho.

http://au.biz.yahoo.com/070119/19/125j6.html
 

Thanks, thats what i think as it well, CEY might be a FLX, like when it did badly and went down to $1.60 but now at $4.50+

thx

MS
 

Well said.

:iagree:
 
nomore4s said:
Anyone know what's up with CEY today? Up 5% or so
Click to expand...

Noirua, CEY will follow what FLX did, i.e. do badly for a yr and share price crashes, but then the recovery sweater!

thx

MS
 
Up through the $3 barrier this morning, will be a interesting day for CEY
 
michael_selway said:
do u know why it went up?

takeover maybe?

thx

MS
Click to expand...

No Idea Michael but its been building for a while (imo) as before the correction it was starting to edge up and it held up quite well through the correction and now seems to have headed north again.
I only own a very small parcel, was thinking of adding to it but there just wasn't enough volume to convince me to buy more.
 
Chart looking good, can't really find any resistance on long term charts till $3.25, maybe a little around $3.10-$3.15 but imo it will be around the $3.25 mark. Not really sure what has started to make it move up, but I'm not complaining.
 

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3 year, weekly chart with likely resistance for anyone interested, once it breaks $3.10 it could run to $3.25???
 

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Yep, agreed looking nice.....

I managed to get on at about 2.88 after the break out of the range....

Should be good to go on, successful completion of sub debt issue and coal stocks generally looking a little better... it will be interesting to see where it goes from here....

Cheers
 
Now at $3.33 as coal stocks are seen as cheap in Australia. Look at the rating of Consol Energy (CNX) in the States. Interest from AMCI recently, in other coal stocks, seems to have given CEY a jump start. A long way to go yet, imho.
 
Nice movement here today, CEY has now well and truly broken out........

This was a nice little trade, it will be interesting to see where it goes from here....

Best of luck to all holders...

Cheers
 
It's Snake Pliskin said:
I went long at $3.22 after the $3.20 mark was smashed earlier.
Click to expand...

For those wanting a lesson in how not to let your winners run consider this:

I went long on CEY at 2.88. In changing over to I.G. Markets and not seeing allot of action on CEY i decided to exit for a small profit and transfer more funds to IG. That was yesterday!

Moral of the story....trade the bloody plan!

Cheers,
 
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