kennas said: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??
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.....dubiousinfo said: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.
kennas said: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.....
Looking a little like a one hit wonder!Ken said: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 said: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!
constable said: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.
Thanks mb fixed that now !Moneybags said:Cons,
There seems to be a contradiction between your sig and your last post.
MB
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 said: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!
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!Snakey said:well that was a long wait but finally some movement in the camp
constable said: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.
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