I don't think the August announcement will give things a big boost Q3 results will be the tell tale factor IMHO
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This is the time when well paid directors and the CEO should be stepping up to the plate and buying shares and demonstrating their confidence in the future of SUM.
Instead we had Norah Barlow selling heaps in early April 2014 one day or so before the poor announcement of Q1 sales and the sales and marketing manager also selling in recent months going back to late last year.
Lets not forget the company isn't prepared to give forward guidance but others in the sector are:confused:
Let's see if Q3 results are turning growth into sales as management have told us will happen,I'm holding them to it.
A warning sign was triggered when SUM broke it's 28 month old primary up trend line (started 2 months after IPO) in Mid April 2014...
It ranged in price for a month (giving investors tim to get out)...
In Mid May SUM began its downtrend..For many investors it seemed SUM was too good to sell so the downtrending phase was gentle...However todays short term support (318) break has put an end to a small rally and has reinforced the view that downtrend is still in progress and has steepened...
Unless SUM regains above 318 at today's close it will look like that small rally is of the sucker variety that would indicate SUM is in a bear market cycle and shareholders should expect a fall to test 310, the next level of support.
If it's true that the "trend is your friend"...logic says SUM has not been your friend for 2 month now.
I only have friends in my portfolio...
Yes it hit my stoploss this morning, only bought the other day in the "sucker rally". Only a small loss but seems to happen a lot these days, hard to find good shares in nz to place your capital.
Rock star economy, what a load of bloody crap. Won't stop he who is expert with the rear view mirror from giving us all another bludgeoning with his interest rate hammer tomorrow. Where do they find these myopic "bankers", or should I have spelt that with a "W".
A group of bankers is described as a "Wunch", "a wunch of bankers".
ref http://www.urbandictionary.com/define.php?term=wunch
Heehee , very good
Not looking good at $3.09 already