SOM - Somnomed Limited

[dubiousinfo]

Only if everyone was dumping their issued shares, but what was the record date? 7 Dec? Sometimes this actually makes the sp go down....Perhaps day traders saw the volume and just jumped on (like me ) forcing the sp up without consideration?

I'm not sure if they have got another speeding ticket but with over 100m shares traded Friday and up 100% last week, you'd think they have some questions to ask. They only have 115m shares issued that I can see, so how does 100% of the company change hands in a day??

Prior to the recent rights issue the company had only 115mil shares on issue but 385mil new shares were issued at 1c in late December as part of the rights issue to raise funds. Total shares now is around 500mil.

 

[Sean K]

Prior to the recent rights issue the company had only 115mil shares on issue but 385mil new shares were issued at 1c in late December as part of the rights issue to raise funds. Total shares now is around 500mil.

So, in the past 5 trading days I have about 250m shares having changed hands or about 65% of the company? Day trading, surely......Has to stop somewhere.....

 

[Snakey]

So, in the past 5 trading days I have about 250m shares having changed hands or about 65% of the company? Day trading, surely......Has to stop somewhere.....

People please read the following ANN's :

11/12/2006 Shortfull Rights issue
27/04/2006 USA Investor Presentation

464 600064 Shares available in this company.
last traded market cap 15.8 million
Wow I own nearly half a percent of this company....Coooool
Still cheap people... last traded 3.4.....Please read your 5 year charts and look at price history.
ASX code first active 5/8/2004
SomnoMed is USA- tested, approved, patented, in production(in China), operating in the US and selling to the public
Are the hard yards over for this company???????
I wonder if a satisfied US customer has invested in this company?????

 

[Ken]

Bit of a sell off today..

Buyers disappearing a little.

I suspect it could go either way in the afternoon.

Don't think it will stay around current levels.

Choices will have to be made...

 

[constable]

Bit of a sell off today..

Buyers disappearing a little.

I suspect it could go either way in the afternoon.

Don't think it will stay around current levels.

Choices will have to be made...

Looking a little like a one hit wonder!
Would you hold on with an upbeat bias for its fundamentals?
Would you call this finish of a wave 1, and wait for some further consolidation/breakdown b4 going back in?
Would you sell in belief that someone has cleverly set this stock up and now the shows over?
Or would you just sit in on the sidelines and wait for some clearer indications?
Hmmm I want to buy back in but I think I will wait!

 

[Snakey]

Looking a little like a one hit wonder!
Would you hold on with an upbeat bias for its fundamentals?
Would you call this finish of a wave 1, and wait for some further consolidation/breakdown b4 going back in?
Would you sell in belief that someone has cleverly set this stock up and now the shows over?
Or would you just sit in on the sidelines and wait for some clearer indications?
Hmmm I want to buy back in but I think I will wait!

I would not expect this to sky rocket every day but i would expect this upward trend to continue. Still very early days for this one .....current price .031 I would top up now but i am fully loaded and can not afford to spend more money....still holding and i am not scared of down days.
down days are healthy for a steady climbing stock IMO
Ideal day to buy back in constable IMO but this time give the stock more time. One month on this could be very lucrative IMO
Remember MLS took two months to get from 2c to 10c

All time lows are over for this stock now and its time the price went up IMO
DYOR

 

[constable]

well waited long enuff! picked up 100000 @ .031 and got the 150000 at the close for .03 ...avg .0304c.
I just cant help looking at the graph and volumes.
Could still be a set up as beforementioned but will keep a tight stop .

Snakey @ half a percent what are your plans for the company! Your probably having dinner with the directors tonite! lol

 

[Ken]

One bad day and a lot of people will get spooked.

Hopefully people are supporting 3 cents. I bought in @ 2.9c, still hold.

Hopefully they hit all times highs by next week.

And I can retire.

 

[constable]

Son Of a Mitch out at .031c no volume coming. Looks like its going to come back without ann. Still like the stock and will be watching closely.

 

[Moneybags]

Son Of a Mitch out at .031c no volume coming. Looks like its going to come back without ann. Still like the stock and will be watching closely.

Cons,

There seems to be a contradiction between your sig and your last post.

MB

 

[constable]

Cons,

There seems to be a contradiction between your sig and your last post.

MB

Thanks mb fixed that now !

 

[Moneybags]

Thanks mb fixed that now !

Nice one Cons.

MB

 

[constable]

Hmmm bit of a retrace now, reduction in vol (although still unlike anything we've seen in the last 12 months)and all is quiet on the western front.
Can you apply elliot to this chart and call this a wave 2 im not experienced in this and would appreciate anyone else opinion (kennas are you out there).
My idea is that retrace should be up to 60% of first wave which in my understanding would be .034c - .0084c = .0256cents (counting 2c as the start of wave 1). Therefore we should be expecting more correction if elliot can be applied to this stock. Im only new at using elliot having just read nick radges book and look forward to someone elses interpretation thanks!

 

[constable]

couldnt help but notice the similarities between som and rtl. Both companies seem to be coming of their respective lows with positive ann. Still would appreciate some comments on my above post ta. My first graph posted too (only took mrs constable to show me)

 

[Sean K]

Hmmm bit of a retrace now, reduction in vol (although still unlike anything we've seen in the last 12 months)and all is quiet on the western front.
Can you apply elliot to this chart and call this a wave 2 im not experienced in this and would appreciate anyone else opinion (kennas are you out there).
My idea is that retrace should be up to 60% of first wave which in my understanding would be .034c - .0084c = .0256cents (counting 2c as the start of wave 1). Therefore we should be expecting more correction if elliot can be applied to this stock. Im only new at using elliot having just read nick radges book and look forward to someone elses interpretation thanks!

Mate, I can't see much in this. This downward move might be a wave 2 if the wave 1 started from around 2 cents, or it could be a wave 4 if you start the count from the low in Nov.....With it being traded so lightly before this I'm not sure if there is any market psychology in it...As far as retracements go it could go anywhere IMO, but I'd be looking for support lines around the 38, 50 and 62 fib marks. Unfortunately there's just not enough in the charts to see these. Although, perhaps $0.03 ish is a support line, maybe, and it will bounce from here....clutching at straws....Good luck.

 

[constable]

yes i guess it just simply hasnt really traded up until a few days ago. anyway appreciate your comments ta.

 

[Snakey]

well that was a long wait but finally some movement in the camp

 

[constable]

well that was a long wait but finally some movement in the camp

Some biggish buys went thru this morning when it looked as tho it should have tanked. Someone imo seems to be buying themselves a large holding!
I was back in at the close "again" yesterday ...(after selling tas), with 500000 units. Feeling a little chuffed he he. But bought in for medium term, so as much as i'd like to cash in im holding with a stop where i bought.

 

[Snakey]

Some biggish buys went thru this morning when it looked as tho it should have tanked. Someone imo seems to be buying themselves a large holding!
I was back in at the close "again" yesterday ...(after selling tas), with 500000 units. Feeling a little chuffed he he. But bought in for medium term, so as much as i'd like to cash in im holding with a stop where i bought.

yes nice buy constable ....wise stop...i also topped up yesterday after selling out of jms by 10000 ...yes tiny for me but i squared up holdings here to 2 mil.
and then put the whole lot up for sale at .098

constable your becoming quite the trader i like your style...fast and furious... nice work.

 

[constable]

thanks snakey, i appreciate your comments. Now if i can just get the rest of the portfolio to go like som.....
Anyway som seems to be hitting resistance at .034 ....whoops they're gone she's off again. I cant see this stock ever seeing the underside of 3 cents again!