wonder what pikes take on red is now that beetles dissapeared.....
Last Friday had gold spike so why is it misleading or delusional to say that anyone who bought on REDs low Thurs or Friday could take a profit on the following Monday? I posted that on the weekend not after Mondays close. Monday had a high of $1.33.
Nothing that wasn't unexpected, just breakout below the min area today.
Next step on the current trend is 1.16 on the way down unless something amazing occurs that would create a convincing close above 1.295 (which might get me interested).
Main target remains at just above $1.00.
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Boogo you mentioned NGF in one of your post... from a chartists point of view you said they were heading in the right direction. How far in the right direction is NGF looking on the charts as they have a takeover offer of 25c + .02c special dividend. With directors advising on taking the offer i dont see NGF sp at 24.5c going much further than what it is. What is your chart telling you if you say it's heading in the right direction. Just curious so if you could post it?
If it turns down I will get taken out at my current stop (now 24.5) which will be almost break even and will hopefully eliminate the possibility of me becoming an 'investor'.
Excuse my ignorance, but if there's a takeover at 25, plus a 2 c dividend, why put a stop in at 24.5?
Not sure how far in the right direction it will go as there are potentially many external (potential = fundamental) influences but I am ignoring those and sticking with the internal (actual = technical) behaviour.
If it turns down I will get taken out at my current stop (now 24.5) which will be almost break even and will hopefully eliminate the possibility of me becoming an 'investor'.
Charts below.
Cheers Booogo.
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Boggo, there are perhaps time to look a little bit at the fundamentals. NGF with a 27c takeover offer due to conclude around Nov is being priced exactly as it should. You will see price rises in line with the approach to the completion date. There are no further upside to that, considering the bidder owns a large part of the company already.
Yet the down side if a deal falls through is probably 50% lower. If you are not in the game of merger arbitrage, I don't see why any directional traders would hold on this on a reward / risk basis.
Boggo, there are perhaps time to look a little bit at the fundamentals. NGF with a 27c takeover offer due to conclude around Nov is being priced exactly as it should. You will see price rises in line with the approach to the completion date. There are no further upside to that, considering the bidder owns a large part of the company already.
Yet the down side if a deal falls through is probably 50% lower. If you are not in the game of merger arbitrage, I don't see why any directional traders would hold on this on a reward / risk basis.
I do agree that there is a lot in what you are saying skc and in the case of this stock it may be an example of just that.
Apart from knowing when a stock is within two months of paying a dividend I tend to just work on the price behaviour with a separate account set aside just for this type of speccy hit and run approach that NGF has turned up in.
One current example of this approach without looking outside of just the price action at fundamentals etc is CSE where I am long again for the third time since 17th April with a finger on constantly on the trigger (ie tight stops), I haven't got a clue what is driving it but its profitable fun so far !
I was surprised that boggo use NGF as an example to REDs volume & price situation. Cant see the point.
andInverted head and shoulders. Neckline at 62. Bought at 59. Gold index up 2.2%.
59 breaks a longer term down slope trend line from 27/2 - 6/7.
averaging down to 58.2.
Nothing that wasn't unexpected, just breakout below the min area today.
Next step on the current trend is 1.16 on the way down unless something amazing occurs that would create a convincing close above 1.295 (which might get me interested).
Main target remains at just above $1.00.
I suppose I could do what you kiddies do and average down on a falling stock, that should work
Here is an example, two posts from last week on the IAU thread, it is currently trading at 24 cents as I type this.
and
Back to the topic that this thread is about, ie RED.
So far today it got to within half a cent of its first target of 1.16, not seeing anything would get my interest in this stock yet and I definitely would not like to be holding it.
Yeah stick to the topic of RED Boogo. You were the one that brought up NGF which anyone could see to where they were heading given the circumstances of a take over.
Who's averaging down and for a stock that does'nt interest you why do you bother with the Posts?
Have you traded any RED shares or do just like to post on how good you are when your correct?
Yeah stick to the topic of RED Boogo. You were the one that brought up NGF which anyone could see to where they were heading given the circumstances of a take over.
Who's averaging down and for a stock that does'nt interest you why do you bother with the Posts?
Have you traded any RED shares or do just like to post on how good you are when your correct?
Anyone could see where RED was heading too(well almost anyone)
RED
IN the RED
Holders with RED faces
There is a good reason why we ( BOGGO and I ) take interest in threads like this.
We supply a balance.
Some have saved a great deal by applying some balance.
By the way BOGGO posts before he's correct.
So currently your $30 k profit is less than $ 15k .
Not the smartest investing I have ever seen.
Seriously you should be learning and not knocking.
If you want to be helpful and keep the so called balance just posts your charts and refrain from your little snipes.
Yeah stick to the topic of RED Boogo. You were the one that brought up NGF which anyone could see to where they were heading given the circumstances of a take over.
Who's averaging down and for a stock that does'nt interest you why do you bother with the Posts?
Have you traded any RED shares or do just like to post on how good you are when your correct?
Honestly you should try and grow up a bit with your little snipes your like a little terrior yapping and nipping at the heal.
Yes RED was down like most other oil and gold stocks today. So what.
By the way why bring up IAU on the RED thead? Are you trying to put RED in the same boat as IAU?
Agree,i don't see any reason to inflame the other posters here Tech. You have made your point.
CanOz
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