SRI - Sipa Resources

[spottygoose]

Lioness, speculative stocks are going to suffer the most at the moment but having said that this one has a lot of news due over the coming months so I I am definately staying in. As you point out it won't take much to gap up to where it was before this correction and hopefully an upgrade of the resource at Kangaroo Caves will be just the thing to do it. I imagine we will be back in the teens before too long and back in the twenties within 2 or 3 months. Well, that is my theory anyway!

 

[lioness]

Spotty, looks like that capper is gone at 10 cents, it might be ready to move real soon, sparse sellers on the board, with great news this will take off AGAIN.

 

[lioness]

Next to no volume last 2 days, maybe turning around spotty goose??

Several news due on all fronts

 

[spottygoose]

Lioness, I think some results from Woodline might be due pretty soon. Newmont has secured a rig and drilling was to commence about now. There has certainly been a little interest lately keeping it in double figures and it looks like the holders are set and waiting. Be interesting to see what happens next hopefully some good results and not more market jitters.

 

[explod]

With a nice jump in the gold price at the close and the SP showing it has bottomed we should now move back up a bit this week.

Positive news on a number of fronts expected soon

 

[lioness]

Explode,

Why have they not announced gold drilling commenced at Woodline with Newmont??????? News is overdue on 3 fronts and still they keep quiet, is this the clam before the storm and do your charts indicate a positive or negative move and when is the move due to happen??

Much appreciated.

 

[shinobi346]

I've been watching SRI since the crash. Unfortunately I've put investing more into portfolio in the sidelines for the moment and this share keeps going up. I wish all my other spec resource stocks were like this. I missed the momentary close at <10c the other day. hopefully it will reach that level again when I'm ready to invest more.

For now I'm putting more into my bank account to balance out my investments.

 

[explod]

A healthy move today, a bit of resistance at .13 but once clear should see it return to value. With NEM behind this one gives some confidence in its potential.

 

[lioness]

A healthy move today, a bit of resistance at .13 but once clear should see it return to value. With NEM behind this one gives some confidence in its potential.

Explod,

A question for you on gaps, as it gaped up to 13, it should come back to touch 12, am I wrong??? Yes it was a healthy move but with no real volume behind it also. Would like to see much more volume for a stronger move.

What are the chances on this trend as it always seems to run out of gas.

 

[explod]

Explod,

A question for you on gaps, as it gaped up to 13, it should come back to touch 12, am I wrong??? Yes it was a healthy move but with no real volume behind it also. Would like to see much more volume for a stronger move.

What are the chances on this trend as it always seems to run out of gas.

Probably not far from a reverse hammer however it gapped up like this back in late Dec 06 and went on to a higher level.

It is very sensitive to the gold price and should follow, which is up more overnight.

There is news due out on a number of soil tests so we will see what pans out.

 

[saichuen]

Explod,

A question for you on gaps, as it gaped up to 13, it should come back to touch 12, am I wrong??? Yes it was a healthy move but with no real volume behind it also. Would like to see much more volume for a stronger move.

What are the chances on this trend as it always seems to run out of gas.

Well, what do they say about gaps? Aren't they meant to be filled?

Also, this stock has ran pretty hard for the last few days on above average volumes. Time for a pullback before continuing as traders may lock in profits soon?

My 2 cents worth.

Happy trading!

 

[Sean K]

Well, what do they say about gaps? Aren't they meant to be filled?

Not necessarily. A breakaway gap, by definition, breaks away and won't be filled in the short to medium term. Won't know if it is though, until the sp has run away! Not saying that will happen of course!

 

[lioness]

It did what was expected and closed the gap at 12 cents, great news, now we can move forward from here. Also retracing on low volume, a good sign.

 

[spottygoose]

Ok here is an update from a contact of mine who rang the company this morning.

Kangaroo Caves – The new resource estimate is due soon. No later than two weeks worst case. They are meeting with with the consultants today.

Woodline is being drilled currently but that is all expected to take 2 months.

The next target will be drilling at Kangaroo Caves again early November.

The director sounded positive and upbeat (within the realms of asx requirements of course!).

Judging by the recent interest in SRI, my guess is the new resource estimate at Kangaroo Caves will be very nice.....

 

[Uncle Festivus]

This is the long term chart I've been going by for a while, so as long as the up trend continues and higher lows to the trend line isn't breached then slow & steady as she goes maybe.

 

[shinobi346]

do both graphs use the same date range?

Seems like its the start of forming the other half of a bowl.

 

[explod]

do both graphs use the same date range?


Which graphs are you referring to???


Seems like its the start of forming the other half of a bowl.

Yes that is what Uncle Fest. asserts here. A prime feature of charting is continuation patterns. It will be found that some stocks have their own particular pattern characteristics. I find it both interesting a useful to look at a stocks chart right back to their inception.

 

[lioness]

This is the long term chart I've been going by for a while, so as long as the up trend continues and higher lows to the trend line isn't breached then slow & steady as she goes maybe.

Uncle,

do you mind explaining this chart in detail for us dummies.

I presume you assess it on a long term basis as a rounding saucer pattern and upon breaking resistance at 13, it should move higher in an uptrend.

Can you explain why this stock has taken a long long time to eventually lead to a break out and because of this length of time does that mean when it does break out, it should lead to very large gains???

More detail is very appreciated Uncle.

 

[Uncle Festivus]

Uncle,

do you mind explaining this chart in detail for us dummies.

I presume you assess it on a long term basis as a rounding saucer pattern and upon breaking resistance at 13, it should move higher in an uptrend.

Can you explain why this stock has taken a long long time to eventually lead to a break out and because of this length of time does that mean when it does break out, it should lead to very large gains???

More detail is very appreciated Uncle.

First up, I'm definitely not a technical analysis expert so I really can't explain the chart in any terms that an accomplished ta would, and certainly don't want to start the usual ta v fa arguments all over again. All the chart portrays is the disappointment from previous ventures coming to an end and the increasing optimism of the current multi-faceted exploration prospects being priced in for the future.

As time advances and each project advances, each pullback in the price is met by buyers not willing to sit by the sidelines for a lower price and so each wave of weakness is met by support backed by improving fundamentals. So we get the saucer pattern. An no, if it breaks out technically, it is still no guarantee of huge gains, without some good announcements to accompany it or precede it or support it.

The fact that this one lines up with some of my favorite indicators eg fibs, OBV, & symmetrical parabola curves strongly supports the fundamentals - that is, until the fundamentals change? I'm sure a ta would be able to explain it better, but for me after a while you get a 'feel' for some stocks if you watch them on a daily basis eg watching how fast the bidders fill the depth gives you a feel of the sentiment etc and having a look at the course of trades at the end of each day if you get really keen.

It still comes down to drilling holes, getting lucky and hitting pay dirt in the end.
UF

Another advanced spec, RED, is looking interesting too.

 

[lioness]

Thanks Uncle, a geat explanation, but I have been patient with this little gem which is failing to deliver whilst everything around it in gold goes skyrocketing.

What just do we expect from Woodline. I have done heaps of research with IGO and Tropicana next door with Anglo Ashanti and their ground cover is 2nd largest in Australia and prime too. BUT this company never shoots on with no interest, WHY?

With the price of au shooting what is the real issue here??

Time will tell, just getting fed up with the slow snail moving here.