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ERG - ERG Limited

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ERG wins $60 million in new contracts.

ERG up 14% on open, great support building. ERG about to smash the resistance at .30. 2007 will be a great one for ERG.
 
No selloff this morning, ERG still holding the open price, having opened a 3cent gap and support well on the way. We could see this retest .30 shortly, momentum is on our side and the ERG bulls are ready for a charge...This one in play Macd has just triggered a buy signal .. I wish i could buy more +
 
I took some time out and put some candle sticks on and results were more than pleasing. Like I've said before good news follows good news.
 

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hello buda

what charting platform do you use? havnt seen this one before.

totally agree, erg looks pretty good on the charts. should see a new high in the near future.
 
buda

you have three trendlines on your recent chart. i did not like the recent breakdown of a significant trendline (9 touches) and subsequently sold at this point. initially on @ 0.15 break. what have you used to calculate the other two trendlines shown?? just curious. shall look to buy at .31 break on volume in near future.
 
79 Speed Resistance Lines, also called 1/3 - 2/3 lines, are a series of trendlines that divide a price move into three equal sections. They are similar in construction and interpretation to Fibonacci Fan Lines. Speed Resistance Lines are used to define price support levels. For example, if a security is in a rising trend, its price will usually stay above the 2/3 Speed Line. If prices do penetrate the 2/3 line, they will generally fall all the way to the 1/3 line before regaining support. As far as trading the stock i am always buying on weakness, if you look at the stock on monthly chart its quite clear for the past 4 months the bars have higher highs,a higher high will be achieved in dec, .45cents to be exact.
 
Looks like bears have run out of steam, good support volume, will the bulls take charge and run ERG to .45 The macd has ticked up.
 

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Buda said:
Looks like bears have run out of steam, good support volume, will the bulls take charge and run ERG to .45 The macd has ticked up.
Click to expand...

ERG starting to run again.
 

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Has come up a lot today on pretty big volumes...

Anyone got any explanations? Can't find anything myself.

Cheers.
 


Hi folks,

ERG ..... it matters not HOW we make any forecast, if it keeps us from
burning up our capital, then it has given us valuable service ... and if
it helps us to time our trade entries and exits better, then it is well-
worth the effort to do the simple mathematical calculations, required.


FWIW, the following astroanalysis is based on Gann's astrostuff:

21052007 ..... likely to test support early ... ???

25-28052007 ..... difficult time cycle expected here

01-04062007 ..... positive move expected ... finance -related???

19-22062007 ..... sets up 3 difficult cycles here, including 2 that form
a "Finger of God" aspect pattern ... and may bring significant news.



09-10072007 ..... significant and negative cycle - finance related ... ???

20-23072007 ..... positive spotlight shines on ERG, at this time.


03082007 ..... mixed cycles may bring positive news, but a significant
and negative cycle may easily keep ERG trading flat, at this time.



This period 10-17082007 is likely to be a VERY negative period for ERG ...??


13-14082007 ..... looks negative ... finance-related ... ???

17-20082007 ..... 2 x negative spotlights on ERG

04092007 ..... a monior and positive time cycle.

24-25092007 ..... 2 cycles bring in more difficult time cycles.

happy days

paul





=====
 
With regard to Tcard look at Budget estimates, check out the transcript page 14 onwards.

The term "I will take that on notice" is used often. Aspects of the project and contract are commercial in confidence. Questions on notice are supposed to be answered within 21 days.

On a very short term level it could be argued that ERG is trending up, but I would step back a little and look at the bigger picture. Ask the question "is there a better place to put my money". I find it very difficult to pick a turnaround at such an early stage.
 
Yes, huge trouble for ERG. It might be interesting to see what they can get from the NSW Gov after the contract was broken. But the rubbish project performance might see them with not a penny... it's tough to say.
 
NSW Government will be taking ERG to court for the $95 millions taxpayer's money lost. I heard that this was their largest project so if this is gone so is ERG.
 
anyone have any idea when this one is back from suspension?
Been a while, I'm guessing they are mounting their case over the NSW project?
 
b4subi05 said:
anyone have any idea when this one is back from suspension?
Been a while, I'm guessing they are mounting their case over the NSW project?
Click to expand...

I'd say you are right... but I am also keen to find out what is happening with ERG. No doubt this may take some time. Am I right that if they lose this one, it's all over for ERG, and if they win, they live to fight another day?
 
Kelpie said:
I'd say you are right... but I am also keen to find out what is happening with ERG. No doubt this may take some time. Am I right that if they lose this one, it's all over for ERG, and if they win, they live to fight another day?
Click to expand...

I'm curious about this one. Does anyone win cases like these against the govt?! Are ERG getting any new work?
 
No one seems to have answered the question on the last post. Is there any hope for the survival of erg?
 
My opinion is that:

If the restructure is not approved at the AGM, ERG will be worth zip.

If the restructure does go through and the case against NSW govt fails, ERG will be worth zip.

If the restructure does go through and the case against NSW govt succeeds, ERG will be worth nearly $0.30 a share (on my back of an envelope calculation). This would enable ERG to buy back into its assests and return some cash to its shareholders or invest in new enterprises.​

Sensible governments do not lose cases like this - they reach a settlement to cut their losses. Is the NSW govt. sensible? A settlement might be a fair bit lower than the 30 cents a share I calculated, but anything over $115m will get back an interest in ERG's assets.

A punter like me thinks that, at one cent a share, it is like backing an outsider in the Cox Plate. Outsiders do sometimes come home, so I've put my General Election winnings into ERG shares. I look at it as gaming with a different bookmaker.
 
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