Well I sit looking at the chart right now, and I must say, I am shattered.
SRZ has basically broken all support lines for me.
I got this one completely wrong.
The stock has been traded down on bascially no volume, but none the less that is what we have when a stock is bearish.
The trend will continue untill we get some news.
I think best case is that we have a cracker of an announcement and the share price spikes.
I think 20 cents is most likely. There is absolutley no support for this stock at the moment.
Question.
How would the traders out here play it.
I have 100,000 SRZ shares they owe me 29.5 cents. What has been the Should I wait for this one to bottom, and then try and pick some up when its in an uptrend?
That way I lower my entry level.
If SRZ goes through 20 cents, 11 or 12 cents is possible.
Question for people with more experience than me.
When there is no buyers out there the stock has no liquidity, so when the buyers come back into the market lets say 2-3 months, will this mean the rise will be faster, cause the stock will appear over sold??
How have traders dealt with stock with low liquidty?
I am thinking pick some shares up at 18 cents, and then 15 cents. Try to get an average entry price of say 22 cents.
I am okay to hold long on this. But figure if it drops I might as well take advantage of the tough times.
SRZ, AXT, VMS, TOE, all south australian companies well off their all time highs of the year....