This sounds like a warning?
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.....LOL hoop! Hey hope they come right for you m8........I really thought they might have got hit a bit harder today with this nonsense being pushed by the media (in fact I was hoping they were going to cos I wana buy back in!).......really "scratching-the-bucket" stuff I think?
[QUOTE=Dej;391706]More buyers accumulating at 49c, bait for the TA fish...eh?....I will hold off as long as I can if it does fall to 49...a have a manual stop to avoid getting duped by a shake out at 49c (although with the present depth this seems an unlikely action). I will watch for possible reversal of the TA indicators around the 50c mark.
The theoretical play is to buy at the bottom of trading ranges ...not a great reward and the risk seems high at the moment so this option doesn't thrill me at the moment... but what I love about investing is how rapidly situations can change and the exitement in being in and able to ride along with that change ..a bit like the excitement of surfing a wave (sigh...brings back memories of my younger days...Whale Bay :))
From a fundamental point of view, this company isn't any different when it was 64c. They just managed a capital raising exercise in the wrong fashion, which has resulted in the faithless profit taking (because they can - who blames them) which has driven the price lower, and lower. Now people are jumping ship as they have lost faith. I made a few phone calls today to reassure myself - but even then I have my doubts.
Milford is still holding. 2.2% in active growth fund, one of their biggest NZ holdings. They had 1.5ish% before the capital raising so even they took a hit, but they are holding. That has to be a sign in itself.
My point of view anyways. Hoop, went surfing this weekend at Whangamata, never been surfing there before but wasnt to bad! Choppy though, but still a wave or two. Get back on the board!
:)
..........From a fundamental point of view, this company isn't any different when it was 64c. They just managed a capital raising exercise in the wrong fashion, which has resulted in the faithless profit taking............
A cynic may say the share price should never have been up that high and was manipulated to 64c to facilitate a capital raising that allowed the founding fathers to realise some of their profits.
Disc. I acquired a substantial shareholding from the capital raising and am holding for the medium term.
I'm with Sparky on this one. I'm not concerned what happens in the next three weeks, it's completely irrelevant as there have been no announcements. I'm very confident that the profit update will set things straight, leaving those selling now with a red face as they sold their shares at a ~20% discount. Time will tell though!
I'm with moosie on this. Looks bad. I hold