No response doesn't really surprise me, the email was near extortionate. Demanding info 'or else'.
I am not saying the topic doesn't need to be addressed but it was worded too aggressively in my opinion
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No response doesn't really surprise me, the email was near extortionate. Demanding info 'or else'.
I am not saying the topic doesn't need to be addressed but it was worded too aggressively in my opinion
ANZ securities were a mess last night. Got sorted about 1745. Problems starting to show up again this morning so suggest it is a NZX problem.
Normal transmission to resume at 11.15. Market halt at moment.
And a NZX problem it is :
https://www.nzx.com/regulators/NZXO/...cements/251396
I'm out at 89c.
90c proved earlier this month to be of stronger resistance than 85c. Do not be fooled by sellers temporarily removing their 90c offers (currently only 10k is showing). That also happened when the sp rose to $1.20 after bouncing off $1 for the first time last month. No obvious sellers then wham-o.
I wonder if that large seller from a while bag finished offloading, or has been waiting for the price to drift further north ... ... anyone got any inklings?
I thought this is interesting enough to share....Responding to a PM last night...I mentioned the squeezed BB on the short term chart (Note:..BB's very wide on the medium term chart)
Quote;;;
......the bollinger bands are squeezed up again suggesting more short term action this week....As it is in a long term downtrend the trend investor assumption is it will go down again...However a surge upwards past 105c would make the intraday 68c low be perceived by investors as a bottom and a cyclic reversal point and they would start buying (hence the buy signal being triggered)...
So...lets see which way the price will go with the short term Bollinger band squeeze...we won't have to wait long..
We didn't have to wait long...less than 12hrs from writing
As PEB showed slight weakness near the close yesterday I personally assumed PEB price would more likely go with the long term trend, downwards rather than upwards...Wrong!!
The short term chart showing the first hour of trading this morning
Bobcats 90/91c as well as 85c resistance levels is evident here on the chart..It is now PEB's next hurdle to contend with...(not drawn in)
http://i458.photobucket.com/albums/q...EB10062014.png
Thanks NG, although I probably should've waited until it reached 90/91c. It's by the grace of God I haven't lost money on this stock. For what it's worth, I'll stay out now until either:
a) a positive announcement that improves its fundamentals, or
b) the sp drops into the mid 70's.
Uncertainty around ongoing NZX50 inclusion, sales progress, RoI from its USA operation, etc provide IMO medium term downward pressure for a few months. What could help to turn current sentiment around of course are the regular monthly updates to which DD earlier alluded. An end of June update could bring a needed boost. If that doesn't appear, I would say it's not a good sign.