I'm all out today at 24.5 cents and time will tell if it was the right decision.
There could some profit long term, but i'm counting on a retrace, i'll pick up a small package at lower levels and wait for $1... LOL!I also put in a sell order at 23.5c after buying at 13c last week, but then decided to withdraw it. It probably will weaken a bit, but this should be an opportunity to acquire more. I see it as a long term hold based on the prospects this company has. regards. regards. YN.
I also put in a sell order at 23.5c after buying at 13c last week, but then decided to withdraw it. It probably will weaken a bit, but this should be an opportunity to acquire more. I see it as a long term hold based on the prospects this company has. regards. regards. YN.
I'm all out today at 24.5 cents and time will tell if it was the right decision. The reason I sold is I think it may of hit some MEGA resistance at 25 cents more or less. As soon as it was pushed to these levels the sell orders pilled on, for a moment there where millions for sale, stacked up from 24 cents i think.
Just profit takers... like me? Possibly...
Profit takers or not, it still formed resistance on depth, we're in uncharted territory now and runs like this usually come back to fill the gap.
Thanks YT, you got a gift buddy, I bet your wallet loves it.
Also thanks to Mick for his input, you helped me with a very succesful day trade
Thats what I mean, "a stock can only move so high", and I think 25 cents (give or take a cent) was "the" high. I don't expect it to go higher than this, soon anyway. Do you?I don't think it hit "MEGA" resistance at 25c; the stock had 20m+ turnover in the first hour, up 20%+ from last close. A stock can only move so high (or else would you expect the sp to increase, indefinitely).
There are very few people who will ever get that perfect trade in a life time.
I dont see myself as a freak who can buy at complete bottom, and sell at complete top.
All just trying to make a buck. Some will lose on FNT however, and thats the game.
Thats what I mean, "a stock can only move so high", and I think 25 cents (give or take a cent) was "the" high. I don't expect it to go higher than this, soon anyway. Do you?
You are making the assumption that the people that bought in around 24 cents are the 'smart' money. Well, that could be, but it is equally possible that the smart money had accumulated the day(s) before and unloaded at that price. So you now have a lot of people that bought in on the (temporary?) high hoping for a profit. In that scenario you have the smart money patiently sitting on the sidelines refusing to buy at these prices. The short term effect is likely to be down (probably with a short spike up first). Long term it may not matter, but not everyone will keep the faith if the shareprice drops to about 18 cents.And whom exactly do you think has been buying half the company's issued capital in the last two days - day traders?
It defies logic (technical, fundamental or otherwise) to suggest that a stock has exhausted itself after rising this amount on such large volumes...
It is a case of the shares going from 'weak' hands to 'strong' hands.
By all means take some 'smart' profits but if you consider FNT has some quality assets, as I do, be short this stock at your own peril.
If Elo produces some good early results (or even the remaining batch of Kodu holes) the sky is the limit. The MD of FNT has already gone on record as saying that Elo has the potential to DWARF Kodu (and the soil anoms seem like very good indicators in this environment of what lies below).
Ok, Kodu is 200mt minimum, Elo could potentially be multiples of that number.
Then there's the Bukuam (sp?) trench results due any time. Results drive these small cap stocks not the hocus pocus of charts!
Finally, don't forget P. McNiel took up another 580k odd shares in the recent placement - says it all really.:
You are making the assumption that the people that bought in around 24 cents are the 'smart' money. Well, that could be, but it is equally possible that the smart money had accumulated the day(s) before and unloaded at that price. So you now have a lot of people that bought in on the (temporary?) high hoping for a profit. In that scenario you have the smart money patiently sitting on the sidelines refusing to buy at these prices. The short term effect is likely to be down (probably with a short spike up first). Long term it may not matter, but not everyone will keep the faith if the shareprice drops to about 18 cents.
Ok, Back in at 20 cents, and now i'll wait for a few days to see what eventuatesOnly have half of what I had before.....
Thats what I mean, "a stock can only move so high", and I think 25 cents (give or take a cent) was "the" high. I don't expect it to go higher than this, soon anyway. Do you?
The answer is yes. A large percentage of the FNT stock is now held by investors who have bought at prices above 22c. Those selling today are still making a profit as they probably bought at 13c, are saying to themselves that it is a pity they missed out on 25c but are still prepared to sell. The announcements we have seen should make the SP about 26 to 30c in my estimation and I believe the SP will achieve that in a matter of days.
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