ADY - Admiralty Resources
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G'day Ezza .... yes i am still in this one
.... not sure if i'm doing the right thing by holding or not .... this is the first big correction i have been through .... it sure is giving me some grey hairs! .... however, i've taken the attitude of riding it out (remains to be seen whether its the right thing to do or not) ... i'm prepared to be in for the med-long term meaning up to a few years.Anybody with experience have any advice on how to trade during corrections with a medium to long term view?
G'Day Aussie Paul. I sold out of my short term trading ADY's recently. Am still in with a position however as I believe the long term prospects for this stock is very good. Have now (in accordance with the longer term view) switched my trading bias to a weekly view, and don't be surprised to see a further retracement down to resistance turned support at $0.25. If this holds, it may make another assault upon its new highs, but bear in mind this may be a while off yet. Still structurally sound graph (higher highs, lows), however if the June lows are broken, I will be out for sure.
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... i'm prepared to be in for the med-long term meaning up to a few years.
Anybody with experience have any advice on how to trade during corrections with a medium to long term view?
You don't have to get up and dance to every tune the band strikes up. Sit it out for a while. regards YN
rub92me
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Never thought we would see as low as 20 cents for ADY ever again. I may regret it later, but I bought some more at this level. This is my only long position remaining. The next couple of months will be interesting. Average price I paid for ADY is still around 10 cents though...
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Definitely my strongest recoverer from the recent chaos. Just wish I had had the guts to buy more at 20c. Had I not been badly cut trying to catch the BMN falling knife I probably would have and would be laughing now.
Anyhow, there definitely is a rebuilding of confidence out there with this one. A good sign.
Anyhow, there definitely is a rebuilding of confidence out there with this one. A good sign.
I am, but only as a small spec buy. There appears to be interest in this on another site. I have been a sheep on this one, buying at a low, 24 cents. One of a lonely few not red at the moment.
rub92me
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Yesterday was a good price test for ADY - plenty of buyers stepped when it dropped below 36 cents. Short term I'm expecting it to hold above 35 cents now. Looks like it will gap back up again today to 40 cent plus.
Long(ish) uptrend is still in place as far as I'm concerned in line with Lachlan's observations . Less volatility would be good for my heart though
Long(ish) uptrend is still in place as far as I'm concerned in line with Lachlan's observations . Less volatility would be good for my heart though
rub92me
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Well, 35 cents didn't hold and drifting down further on low volume. Next support between 30 and 32 cents (previous gap up). We should get some news soon on new iron ore sales contracts, and financing arrangements, which may give it a bit of a kick-up. The minor production delays should also be close to being resolved now with more crushers arriving. The real kicker will be the Lithium of course, but that's still some time away. Car producers are getting more serious about electric cars which bodes well for future Lithium batteries demand.
rub92me
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Announcement out. Another smart strategic move to lock in low cost Sodium Sulphate which will significantly reduce Lithium production costs in the future. I really like the way the managing director of this company thinks ahead.
rub92me
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Volume looks okay today though.
Probably a bit too early for the real big (institutional) buyers to come into this one. Once (if?) it gets a market cap of over 500 million it will get on a few more radars imo.good point RUB92me re market cap over 500 million. the more i read into the company the more excited i get about its potential. seems like they have proven resources compared to a lot of other speculatives that are still trying to show us something. i initially got interested in them because of their iron ore reserve but the purity seems very bad compared to what else is out there in small - medium sized iron ore's. their lithium find is amazing/incredible.
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Very good volume today pushing SP up over 0.40 and finishing on an intra-day high of 0.41. SP up over 9% today.
Does anyone know if there is an expected announcement due soon?
Does anyone know if there is an expected announcement due soon?
Knobby22
Mmmmmm 2nd breakfast
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I doubt it.
It just has a good expectation going forwards.
Less risk than most, still pretty good value.
rub92me
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I'm expecting them to announce two things in the next 2 weeks or so:
1) Details about debt arrangement for further Rincon development
2) New iron ore sales agreement.
It wouldn't surprise me if the two were somehow combined; i.e. using the trade partner(s) to partly fund the debt.
Possibly already factored in the recent price rise though.
I'll wait to 2010 anyway before I think of selling, but it's fun watching it do its thing in the meantime
michael_selway
Coal & Phosphate, thats it!
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"I'm expecting them to announce two things in the next 2 weeks or so:
1) Details about debt arrangement for further Rincon development
2) New iron ore sales agreement.
It wouldn't surprise me if the two were somehow combined; i.e. using the trade partner(s) to partly fund the debt.
Possibly already factored in the recent price rise though.
I'll wait to 2010 anyway before I think of selling, but it's fun watching it do its thing in the meantime"
Hi do you know what its resource base is currently?
thx
MS
1) Details about debt arrangement for further Rincon development
2) New iron ore sales agreement.
It wouldn't surprise me if the two were somehow combined; i.e. using the trade partner(s) to partly fund the debt.
Possibly already factored in the recent price rise though.
I'll wait to 2010 anyway before I think of selling, but it's fun watching it do its thing in the meantime
"Hi do you know what its resource base is currently?
thx
MS
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