VAU - Vault Minerals
- Thread starter Uncle Festivus
- Start date
Tech it's not a penny stock anymore and you'll have to put into perspective sooner or later.
The reason why it's $2 is the same as with plenty of other stocks consolidating and for a good reason.
Maybe this not good for a daytrader as yourself dealing with penny stocks such as PEN and i can see your point with the punters dropping off due to the $2 price tag.
As you said it's a story unfolding and in the end as RED progresses so will the interest and rise in the sp. My thoughts
tech/a
No Ordinary Duck
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Well I dont know so much.
RED
There were 1000 trades today with $1.3 million traded
Average $1300 a trade
PEN
Had 37 trades with $237000 turn over at an Average of $6000 a trade.
MAD
Had 286 trades with a T/O of $1.275 million
or $4500 average trade
To me its certainly trading like a penny.
Hi ML if I read Reds 1/3/12 announcement correctly we may get an a report that RED's official declaration of "Plant Commercial Production (30 continuous days at an average of 60%of the interim ore throughput rate of 750,000 dry tonnes per annum -anticipated by end of March 2012."
This should be a hugh posative for the company (if they can do this on time.) Cheers.
Tech/a This was clearly a lot of Bot trading on Red today! The question is why?? do you think it is for accumulating shares or selling of shares? My money is on the former.
IF you think along lines of it being a penny share due to it's subdue trading then there's a bucket load of $2 companies in you so called penny stock section selection.
It simply is'nt a penny stock no more. Back to realality and RED which given lack interest for now can certainly change down the track. Noone can predict that at this point in time.
Originally Posted by tech/a
Ill bet there are clear technical buy signals.
As For RED.
I'm opting for the Blue option.
Attachment 45710
Thats right $1.20
Anythings possible but unless something is seriously wrong with RED i'd be fairly confident that at its $1.58sp it would hit $1.90 before ever dropping to $1.20.
And if you had to stake your reputation on it which would you truely choose Tech?
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Garpal Gumnut
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I would be careful with RED.
Tech makes a lot of sense above.
gg
Tech makes a lot of sense above.
gg
How's that gg. Are talking about his technical or fundamental point of view? As there isn't any fundamentals in the above post it's a bit lop sided.
Tech back in Jan. was calling RED @ $1.20 and that made sense too at the time but it didn't happen.
I respect Techs analysis but he's not always correct and calling a $2 stock a penny stock? Well.... it just aint... and dat gg dont make sense.
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I too have called it a 20c stock, thats the reality, it is a 20c stock that has had a 10:1 consolidation.
RED is trading around $2.18 and BPT is trading around $1.45, look at the pics below and tell me which one makes sense.
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Garpal Gumnut
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I just feel that without volume, it will drift, and drift down.
It looks toppy on the chart.
gg
Im with you on that at its present state without volume it should fall but say if i were to sell all my RED shares on that basis and it just stayed around the $2.15 to $2.20 mark and then an announcement came out with an upgrade in resources or production. Volume then may incease and it's sp rise. Then i've missed the boat.
Im sure Tech knows what he's doing and is successful at it but i'm sure as hell the moment i sell the sp jumps for one reason or another. Its happened to me in the past and i aint chasing it unless it drops back down lower.( Thats why i trade in & out with only a portion of my holdings) As i've said before im not confident with charts and happy to take a loss on a bad decision but i dont think RED is a bad decision yet.
As a gold producing stock in it's infancy i see RED less and less of a risk. RED in 2010 had a higher sp when it WAS a penny stock and that was with nothing finished or set in concrete. A lot has changed now that it's finally in production and so as RED is updated along the way so should the sp given POG stays positive. Anyway we'll see what happens but my call is RED will be at the end of the financial year a $3+ rather than $1.20 share.
You obviously dont read between the brackets. ( A portion of my shares are traded in and out). Game of golf sounds good tho.
tech/a
No Ordinary Duck
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Do you honestly think anyone or any organization which is capable of designing a system which can be run as a " bot " is going to trade a stock that turns over an average of 1 k a trade?
I'd be thinking more currencies indexes or commodities.
Tech/a All I know is there was 599.000 Red shares traded on Friday and thats about the average daily trading amount per day over the past six months,ie the volume was normal. How do you then explain all the wierd trading amounts then? There are a lot of $1 to $100 trades going on for a lot of the day,this has not been a normal trait for Red shares of late.
Garpal Gumnut
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No worries jancha, you may very well be correct, as long as you've considered the converse.
Best of investing to you.
gg
Hi ALL RED followers.
I read with interest all the posts on RED, interested in the technical commentaries which assumedly have some charting foundation and possibly forming the basis for the following days trading. But of course I read them all with a grain of salt, as I know that the underlying share price at the moment is substantially discounted to the fundamentals.
And regardless of the "demand, the effort, the supply, the momentum" etc discussed technically, I know those factors can change in an instant. And it could happen any day now.
I wonder which day is take-off, which day it will break that resistance at $2.35, which day it will break through its historic high of $2.60 (on a consolidated basis). Call it a 20 cents penny dreadful or whatever, it doesn't matter to me, its gonna break through, is it today, is it this week. Keep watching guys, you might be surprised one day, coming soon IMO!
I read with interest all the posts on RED, interested in the technical commentaries which assumedly have some charting foundation and possibly forming the basis for the following days trading. But of course I read them all with a grain of salt, as I know that the underlying share price at the moment is substantially discounted to the fundamentals.
And regardless of the "demand, the effort, the supply, the momentum" etc discussed technically, I know those factors can change in an instant. And it could happen any day now.
I wonder which day is take-off, which day it will break that resistance at $2.35, which day it will break through its historic high of $2.60 (on a consolidated basis). Call it a 20 cents penny dreadful or whatever, it doesn't matter to me, its gonna break through, is it today, is it this week. Keep watching guys, you might be surprised one day, coming soon IMO!