i f you believe in what you have said BERMUDA sell you CSG YOU MENTIONED YESTERDAY AS A LOT BETTER FUTURE THAN NZOG:confused::confused:[/QUOTE]
I would, but the CSG leverage is better. Are you getting more?
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sold nod nog at $1.84 and been moving MY BUY ORDERS DOWN EVERY NIGHT FOR LAST 9 TRADING DAYS GOING DOWN AGAIN TOMORROW do,nt like catching falling knives[/QUOTE]
You have read the market well. I would say this is about the bottom. Depends a bit on tonite with oil but I reckon about now is about right. What will be your buy signal?
I agree - but now is not the time to do it. While NZO is in a downtrend with the price falling rapidly, it would pay you to "muk around". Why not wait for NZO to show a little strength before buying? Why not wait for a technical "Buy" signal? What's the hurry? Look at how the volume is increasing as the downtrend gathers steam. In my opinion, this downtrend is not over.
The support at $1.52 - $1.53 may hold, but I for one would not be prepared to put money on it.
Wouldn't you rather have sold out of NZO at $1.66 and now be watching and waiting for an advantageous re-entry point?
http://h1.ripway.com/Phaedrus/NZO721.gif
You say "When I look at the chart it has just hit the bottom line". What bottom line is it that you are referring to here, Bermuda?
phadrus--- thank you i was looking for DEVINE HELP NOW THE POPE IS GONE FROM OUR NEAR SHORES-- my thinking has been the over EXCITED PIPE DREAMERS streatching there arm----[/QUOTE]
I must admit that now that I have really started listening to him, it does make sense. Wait till the bottom and then buy on the upside. Yes, makes sense.
As do fundamentals .lols
[QUOTE=Phaedrus;213681]The support at $1.52 - $1.53 may hold, but I for one would not be prepared to put money on it.
Thx for the interesting post Phaedrus. I find the reasoning educational and its much appreciated .
I think we all agree (apart from Duncan ) that nzo is grossly undervalued and not surprisingly have many reasons for guessing the bottom line of the current downtrend .
My guess is that only small volumes will trade under $1.52
My reason is partly based on my own emotions and stubborness- I find it difficult to sell at a loss when I am convinced an asset is worth much more.
Recently a lot of options (often 5 million a day )were traded in the 2cent to (I think )15cents . Personally I bought at prices between 2 cents and 13.2 cents.
Whatever happens this week I expect NZO will take off before the end of the month -the reason being based on the quarterly report .
Apart from anything else, the company has an extra $190m in the bank since the end of the month. Nothing is happening in a hurry with the money (which is not a bad thing) and meanwhile it earns interest. OK, it's not the primary function of the company, but it keeps accumulating.
My 2 cents worth is that this fall is very much like the one we had after the OC's were converted.It is now feeding on itself and will force out the margin holders.I see no one in particular doing this but the collective wisdom of the crowd will make it happen.In other words it will happen just because enough investers have an inkling that it will,so everyone holds back to not catch falling knives.In the end it will matter little that the company is earning nearly 900000 a day.Fundamentls are not part of the equation at this stage.
If making money is why you are here, it is easy to see what Warren Buffett means when he says be brave when others are fearful and freeful when others are brave.The game is you pick the bottom---your call.
I wonder if the board has considered some level of share buy back? If NZO is the best buy on the block ATM...
it very much looks like its following last post option conversion,last time i had a ridiculous amount of options to convert and used margin lending,i was right on the border of thier lending % and needed the price to increase to get a good buffer on the risk of margin calls,i think from memory i had about 4-5 different margin calls over a couple years and they always forced me into selling head shares in the falling market,its not nice