Sorry about the delay in response... its fairly hectic trying to trade, post and everything else that goes on between the hours of 9 and 3..
I think there are some very important fundamentals you need to learn about the share market in order to be successful. Have a read of some of the Jessie Livermore rules, I think its right on the money and close to what I do.
Trust me I have seen the lows and highs since I have been trading.. Anyone who has experienced the last 12 months will know what i'm talking about, even the best traders i'm sure have come undone!
I spotted CXY last night when I was charting, this morning I posted a chart which showed the closing yesterday above the resistance line. With the gas sector running hot over the past few weeks, it seems fairly obvious that this stock was lagging behind the rest of the herd. Ill be honest, I dont very often take notice of stock fundamentals unless im looking long term. I suggested that it could easily run to 8c which was based on the closing price when it spiked back at the start of January. (see the chart below)
I'll be honest and tell you I took profits today, as I feel that we are nearly the end of this bear market rally. Some might disagree, but many of the indications suggest that this is bear market rally and nothing more..
Learning when to jump on stocks is the trick.. if you can get good at that, you can make good profits. Waiting for someone to say buy, usually means your getting on late. Its like seeing a police man with a radar up ahead on the side of the road... you hits the breaks because your speeding, but you know quite well he saw you before you saw him.
Hope this helps. and good luck if you decide to hold long term.
Cheers Kevi
CXY Price at posting:
7.8¢ Sentiment: None Disclosure: Not Held
