Looking for a double bottom yesterday.
Todays action a little dicey as it finished toward it's lows of the day and has not managed to break back up over 2.90 which could quickly become new resistance.
Volume was very light however so possible double bottom still in play.
Next few days will be interesting.
As per last post... you got to have a Tinkler-sized stop if you take a position in WHC.
He might struggle to find a buyer/buyers for his stake. If he's margin called and stock gets dumped on market... then watch out below.
As per last post... you got to have a Tinkler-sized stop if you take a position in WHC.
He might struggle to find a buyer/buyers for his stake. If he's margin called and stock gets dumped on market... then watch out below.
Can't see a takeover happening fast...too much baggage. Once Tinklers problems are resolved one way or another it'll happen. It'll be dragged back to 3.10 by the impending market fall.
Agree.
WHC is one of those stocks where surprises will come, and the price will go up or down quickly, on events unpredictable by commentators or analysts.
There are too many shaky players in the mix.
gg
and like tick follows tock...there it goes back down
ANZ have pulled funding for the Maules Creek project, however I've no doubt someone else will step in, perhaps from China?!
**KILL/TAKEDOWN NOTICE** **KILL/TAKEDOWN NOTICE**
EDS: Please kill story slugged WHITEHAVEN, headlined WHITEHAVEN
LOSES MAULES CREEK FUNDING, ex MELBOURNE at 1218 AEDT.
Hilarious
apparently it was sent in by some anti coal protest group.
I don't hold WHC, but I'm wondering how many traders/investors may have been stopped out due to this hoax, and is there any recourse for them? Good buying for some, I guess - do they get to keep the shares bought due to the sudden decline in price? No doubt ASIC will investigate, but the perps may not even be in Australia, so I assume the ability to control hoax emails/announcements is very limited. Didn't the opposite happen with DJS last year - fake takeover bid or something?
Hilarious but also sad. It took ASX/WHC 22 minutes to issue a trading halt when clearly a real announcement of such implication should have been announced straight away.
I wonder if the anti-coal group has their legal advice team approve of this hoax??
Of course the buyers get to keep the share, and the sellers who sold in panic or auto stop loss - too bad. Some will choose to blame others while some will choose to accept that you've got to expect the unexpected sometimes.
The fact that neither ANZ/WHC made any statement on the supposed withdrawal of funding means that it didn't smell right... but not too many people thought of it as a hoax immediately either.
Thanks for the info. I'm reluctant to leave stops in the market for that very reason, and work off eod data for a medium to long-term strategy. I'll take today's events as further validation for my reasoning
Agree.
WHC is one of those stocks where surprises will come, and the price will go up or down quickly, on events unpredictable by commentators or analysts.
There are too many shaky players in the mix.
gg
Hoaxer's defence
In a later phone call, Mr Moylan admitted the hoax, and claimed it was justified by the environmental destruction he said would be wrought by the mine, near Narrabri in NSW.
"We considered the decision to run a spoof very carefully before we did it, but we believe it is justified,’’ Mr Moylan said. ‘‘We think it is a bit like the Chaser getting into APEC, or the Yes Men announcing that Union Carbide had shut down."
Asked if he had qualms about lying to the public to achieve environmental ends, he said: ‘‘Our primary concern is the impact of this mine on the environment at the end of the day. A lot of people were taken in by it, but when you compare the cost of that to the health of our forests and farmlands, it justifies it.’’
Asked if the anti-coal group had considered that Whitehaven might pursue legal action it, Mr Moylan said: ‘‘I’m not prepared to comment on that at this time.’’
Read more: http://www.smh.com.au/business/mini...aven-plunge-20130107-2cc47.html#ixzz2HH0b3FZS
Thanks for the info. I'm reluctant to leave stops in the market for that very reason, and work off eod data for a medium to long-term strategy. I'll take today's events as further validation for my reasoning
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