Australian (ASX) Stock Market Forum

FGE - Forge Group

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Bit strange the last two days, the price has spiked on reasonable volume. I wonder if there is a announcement pending?
 
robusta said:
Bit strange the last two days, the price has spiked on reasonable volume. I wonder if there is a announcement pending?
Click to expand...

Well if the price is going up with an announcement pending, it begs the question: how does the market know? If the announcement is good news and the stock price goes down, we may just have our answer.
 
Not surprising to see that the company got a speeding ticket today given the rise in price since it's (lows on 11/12 December - 46.5 cents) have increased by 120% to close today at $1.025 on increasing volume - it has gapped up the past 3 trading days.

Is this increase warranted or just day traders pushing it up in trying to make a killing?

This is the link for the speeding ticket:-

http://stocknessmonster.com/news-item?S=FGE&E=ASX&N=663103

FGEEs.gif
 
piggybank said:
Not surprising to see that the company got a speeding ticket today given the rise in price since it's (lows on 11/12 December - 46.5 cents) have increased by 120% to close today at $1.025 on increasing volume - it has gapped up the past 3 trading days.

Is this increase warranted or just day traders pushing it up in trying to make a killing?

This is the link for the speeding ticket:-

http://stocknessmonster.com/news-item?S=FGE&E=ASX&N=663103

View attachment 56008
Click to expand...

No idea, I got out at $0.95 at the open, bought in at $0.66 a month ago. Left a bit on the table however $0.95 was the days low could have got $1.03 easy.

Either someone is building a position at a strange time, as you say the day traders are playing games or another company with deep pockets have decided to buy the order book.
 
According to The Australian this week Forge Group is announcing another Joint Venture worth 90M. Should be a big week for FGE. Up 15% on Friday, news maybe already leaked. Watching closely.....
 
That's weird. I figured I'd jump in with a punt and momentum trade it, but only part of the shares actually appeared in my account after my order went through. I have the confirmations that the trade was carried out in full and everything, and everywhere I look it says the order was properly carried out, but still only part of the shares are showing up. This is in Commsec, and of all the trading I've done I've never had this happen to me before, shares always show up in my portfolio instantly after the order goes through, so I can sell them immediately after I get them.

I couldn't set up a stop loss, I couldn't sell when I wanted to, all I can do is watch as the value of the shares I apparently own are now dropping back down again, straight through where I tried to set up my stop loss :banghead:

Maybe it'll keep going up, maybe this'll turn out okay (it was only a small amount of money anyway) but I'm not sure I'll ever trust Commsec again with trading.
 
I called them up and got it resolved, but obviously it's too late now for my stop loss. They said this happens occasionally when a popular stock leaps up in price very rapidly.

Very frustrating, but at least now I know what to do next time this happens.

So I guess I'm going to be holding FGE for a bit then. Not too bad, I think it's been beaten down way too far, and I think it's got ground to recover as contracts come in. Then I'll sell!
 
Sigh... I saw a few entry opportunities but I was at work and something kept coming up. My first entry was a pullback when the stock was just 9% up. At least I was out of the market so could not lose that 40% in 5 seconds flat that some did! I missed out on some insane returns though kicking myself for not pulling the trigger.
 
Well it just goes to show that I shouldn't let other posters and fear influence me.

A very costly decision to sell out quite a substantial holding for circa 80 cents instead of hanging on for a while.:banghead:
 
Intrinsic Value said:
Well it just goes to show that I shouldn't let other posters and fear influence me.

A very costly decision to sell out quite a substantial holding for circa 80 cents instead of hanging on for a while.:banghead:
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I think too that sometimes you might get half the strategy. E.g. someone might sell at x since they think it's going to go down but then they are planning to buy again at y if momentum begins upwards again. There is no rule that you cannot rebuy at a later point in time. I wish I did... if I even took the last entry I saw I would be up 20% or so right now. If I took the first one this morning and sold when people were going crazy I would have made around 80%! I wish I took those trades.
 
Lol after missing out on thousands yesterday and even got my order at 3:59:50 yesterday not fulfilled since there was lag and missing out on more money this open, I managed to shave off a grand total of $70 this morning. Yay, Valued is eating this week.
 
I sold out for about an overall 7% profit. Not great, but considering my technical difficulties that stopped me from doing the trades I was meant to do, I'm just happy I got out unscathed!
 
I bought in at 0.54.. was going to sell the other day when it hit 1.90.. back down to 1.43 now :banghead:

Will just hold for the time being i think..
 
"Forge was forced to respond to two price queries from the ASX as its shares rose a total of 127.3% over the short period between December 20 and 31 (which included an incredible 54.6% one-day gain). Forge responded that it knew of no reason to explain the sudden spike in trading volume"

Q) Does this mean that the ASX could take action (punishment) for Forge not being honest? Or could they argue they were not aware of the stock being bought up by BlackRock the Worlds largest money manager!!

Thanking those in advance of their reply;).

Regards
PB
 
Got out at 1.28. Bought in at 0.592. Was going to hold it for a tad longer but decided to spend the proceed elsewhere. GOOD roller coaster ride for the shareholders.
 

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