SOM - Somnomed Limited

[Snakey]

This stock looks like it is turning around after long down trend. Appears to have broken out of down trend on high volume current price .028

 

[watsonc]

Re: SOM

What could be brewing behind the scenes to push this up?

 

[constable]

Re: SOM

graph looks ok , great volumes . I just skipped over annual report seems they are still 12 to 18 months from generating any profit though.
Cant explain recent volumes tho except what they detailed in the response to the asx volume query(reguarding cost cutting). Doesnt seem to warrant the increase in trade imo

 

[Snakey]

Re: SOM

12 month chart looks interesting

 

[Snakey]

Re: SOM

6 month chart ...sorry about crude charts

 

[Sean K]

Good questions in regard to the reason for the increased volume. Extraordinary really.

Perhaps they've picked up some big contracts for this device? Perhaps Resmed might be interested in them??

Day traders?

 

[watsonc]

If they have picked up a contract or they know something, do they have to tell the ASX in the query???
They said they don't know of anything!
What if tomorrow they release ann stating of a new contract??? Will SOM be in big trouble???

 

[constable]

Snakey you holding this one ?
I've got my feet wet with 200000 @ .029.
I reckon somebody somewhere knows something about some things that are goin up with this company!! That's my valued explanation.

 

[Snakey]

Snakey you holding this one ?
I've got my feet wet with 200000 @ .029.
I reckon somebody somewhere knows something about some things that are goin up with this company!! That's my valued explanation.

agreed and yeah constable 750k .029
i recon your right and i like this chart.
might be medium term because we may have to wait a while for an announcement doubt it will be tomorrow
looks to me to be still at a reasonable price (not over inflated on hype)

 

[bigt]

I've taken a small holding, purely speculative...there has been some...interesting...activity in the last month, both volume / sp / director / substantial holding wise...will take a punt some good things will happen...completely against my normal practices, and I've just had my works leaving lunch and several beers, so will probably regret it once sober.

 

[Snakey]

I've taken a small holding, purely speculative...there has been some...interesting...activity in the last month, both volume / sp / director / substantial holding wise...will take a punt some good things will happen...completely against my normal practices, and I've just had my works leaving lunch and several beers, so will probably regret it once sober.

would not expect results from this one straight away but if nothing happens from this i'll eat my contract notes time frame 1.5 months

 

[Ken]

I like it.

I think 4 cents is the next stop.

Massive volume.

Something definitely up.

Could be the start of something.

 

[Ken]

note to self...

SOM's highest ever volume has only been 4 million since 2005.

In the last 3 days I believe there has been more volume than in the history of the stock.

Everyone wants a good nights sleepright.

I am in tomorrow.

Best of luck to all.

 

[dubiousinfo]

note to self...

SOM's highest ever volume has only been 4 million since 2005.

In the last 3 days I believe there has been more volume than in the history of the stock.

Everyone wants a good nights sleepright.

I am in tomorrow.

Best of luck to all.

Prior to the recent rights issue the company had only 115mil shares on issue and 80% of those were held by the top 20 shareholders. So there were very few shares to be traded.
385mil new shares were issued at 1c in late December as part of the rights issue to raise funds.
The rights issue was not fully taken up, a shortfall of about 7%, so the underwriter & subunderwriter were forced to take up the shortfall. (at least 1 of the substantial holder notices was in relation to this)
If the underwriters are looking to get out it could put some pressure on th SP.

 

[Snakey]

Prior to the recent rights issue the company had only 115mil shares on issue and 80% of those were held by the top 20 shareholders. So there were very few shares to be traded.
385mil new shares were issued at 1c in late December as part of the rights issue to raise funds.
The rights issue was not fully taken up, a shortfall of about 7%, so the underwriter & subunderwriter were forced to take up the shortfall. (at least 1 of the substantial holder notices was in relation to this)
If the underwriters are looking to get out it could put some pressure on th SP.

why would the underwriters want to get out now, when the price and volume is increasing?

 

[Snakey]

have sold out of yml and used funds to top up here... now hold 1mil but I dont expect overnight miracles

 

[Joe Blow]

have sold out of yml and used funds to top up here... now hold 1mil but I dont expect overnight miracles

Snakey I do not understand the purpose of these kind of posts.

This information is completely unverifiable and serves no real purpose in this thread. Rather than telling us what you have bought, why not tell us why you bought it? Surely that information would be far more useful to others?

IMO this kind of material is more suited to a journal or a blog (or the ASF chatroom) instead of a stock thread. Stock threads are for the sharing of information and analysis and for the discussion of fundamentals and price action.

 

[noobs]

You might not have to wait overnight for that miracle Snakey - Jeez you have been doing well lately! Although we never hear of your losses?

 

[Snakey]

You might not have to wait overnight for that miracle Snakey - Jeez you have been doing well lately! Although we never hear of your losses?

yes i have losses dont like to advertise them as much
well up this year already
I tell you what i buy and price and volume ...you can see your self what the share does after the post
but thats all going to change... right joe

 

[Snakey]

Snakey I do not understand the purpose of these kind of posts.

This information is completely unverifiable and serves no real purpose in this thread. Rather than telling us what you have bought, why not tell us why you bought it? Surely that information would be far more useful to others?

IMO this kind of material is more suited to a journal or a blog (or the ASF chatroom) instead of a stock thread. Stock threads are for the sharing of information and analysis and for the discussion of fundamentals and price action.

sorry joe i will clean up my act
reason for purchase was purely volume and price action
see previous charts