i'm back..., page-7

plough...

So you are serious...lol

I stand by everything I have posted...but I suggest you remember this; at times, the market cares little for ones interpretation of "value".

If you are upset today, you obviously have little understanding of market dynamics...CAZ's share price will rise, but not necessarily exactly when you or I want it to.

Had they opened at $1.20 today, you would have seen a massive run on the stock...the same would have happened, but perhaps less so if it had opened at say $1.50.

The fact it opened at $2.30 today, undervalued or not, it meant it was always going to suffer from profit taking.

The fact it finshed substantially up however, is a good result.

I tried to post something this morning, along the lines that any open above $2.03 might be a bit hot...but unfortunately I couldn't, thanks to stolwyk

CAZ is a good stock, in time and if things go to plan, current prices will seem very, very cheap...even so, it doesn't mean we wont see lower prices first, especially if the profit taking continues..

Profit taking is normal and healthy...many shares changed hands today and most buyers will have higher targets. The volumes were also significant, in particular, some of the individul orders that went through over $2.00...I'd be expecting the odd "change of shareholding" notice in coming days?

For an example of what to expect, the best comparison I can think of is MNR when they first announced Prominent Hill.

By memory...

The first run took them to about $1.65...they then opened the next morning near $2.20, before being sold off gradually all day (similar to CAZ today) and finishing near $1.70.

I think it traded sideways or slightly up on lower volumes for a day or two before eventually staging another rally which saw it over $3.00 (or there abouts) within a couple of weeks.

Could very well see a similar scenario unfold here?

Cheers!