Nothing much more to really comment on that mate , as I was only following on from those who through their posts today have asserted that the ' Market ' couldn't have known about this or that. So I interpreted this to be a ' sight hand ' back at the Wyckoff example I showed with the example of FMG.
The fact of the matter here is that the Market did most likely already know and price in the fact that either Sayona was completely stupid ( which some were trying to say ) , or that the ' Supply' contract could never have been priced in a ' disadvantageous ' manner .......or indeed that the Supply Contract outside of it's obvious connections to fill and meet Piedmont's back to back arrangements with Tesla ....were never going to mean much in the longer term sense of the Contract because Sayona would well and truly be on its way to most likely producing Li Carbonate by 2024....which would effectively leave Piedmont ONLY ONE year in a ' Multi Year ' lithium spodumene supply contract.
Similarly the Market was also aware and expecting an announcement in regards Piedmont appointing a BOD member to Sayona's BOD. So nothing new there. Debating what the market thinks of this is a different issue again, but i would assume that the Market would have expected that Piedmont would have looked after its interests here with the highest regarded candidate.
So this brings us back to the Wyckoff 's Composite Mind theory of markets which would have started their accumulations like I did back in December and even September when Piedmont did its deal with Tesla. So whilst it wasn't immediate , the accumulation by the BIG players would have firmly and quietly been in motion. In fact I believe there was near enough a billion shares accumulated in that December QTR. So they ( the omnipotent players ) knew that the NAL bid was in favor of Sayona and would go ahead despite the narrative of uncertainty which they were also in control of ......good or bad they control the narrative to suit themselves.and to continue with the most optimum accumulation' prices as best they can.
So whether that was in part purposefully designed to shake those off at pre or during 1 for 6 rights issue pricing period or not - it did actually happen this way.
Again , the point here is that not everyone had seen this and not everyone had enjoyed the benefits from the December accumulation lows ......and at other points as well along the uptrend. Remember that there were posters who were in complete denial and disbelief of where it was suggested the SP valuation would go.
So whether you even decide to jump in or jump off NOW , the Phase One trend is still undeniably intact until they ( the market dominant controllers......ie the ' The Smart Money ' ) decide that its not.
And everyone is free to consider whatever research or history they like in terms of markets.....or running their comparisons , but the learnings of that example I gave are still very much relevant.
To support this , we can even look at some famous stock market quotes which are based around this very issue. And one particular fellow I would like to highlight is one of the most renowned and famous stock market traders of that particular time of the Wyckoff era.
So obviously this is not an exhaustive list of expressions and quotes you would have all heard if you've been around markets for any length of time.
> Buy the News , Sell the facts
> Follow the ' Smart ' money
> Patterns repeat because Human nature hasn't changed for thousands of years - Jesse Livermore
> Markets don't just go up
> BIG movements take time to develop - Jesse Livermore
> Never sell a stock just because it seems high priced - only sell when the sentiment or buying interest in a stock has clearly changed. ( and not just measured by changing volumes)
> Markets are Never Wrong , Opinions Are - Jesse Livermore
> Only follow the directions of the Stock or Markets.
> Only enter a stock after the actions confirms your opinion and then enter promptly - Jesse Livermore
> Go long when a stock reaches new highs , go short when it hits new lows - Jess Livermore
> This is just Market Hype or Fluff
> Trade only when the market is clearly bullish or bearish - Jesse Livermore
> Trade whats happening and not what you think is going to happen
> The trend is your friend - Authur Ziekel
>End trades when it is clear that the trend you are profiting on is over - Jesse Livermore
> When its raining GOLD , reach for a bucket , not a thimble - Buffett
> be fearful when others are greedy and greedy when others are fearful - Buffett ( BUT WHEN EXACTLY ? - because I don't reckon 2 or 3 Hot Copper negative views count in the context of that statement )
> As long as stock is acting right , and the market is right , do not be in a hurry to take profits - Jesse Livermore
But one of my favorites of Buffet is " when its raining gold , reach for a bucket , not a thimble " .......
And another one I like is this one by Phillip Fisher :-
“ The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.”
But you can see that a lot of them have this common denominator which clearly tie-back to Wyckoff who postulations endeavor more to explain the reasons why these expressions have become more common place and accepted lingo in Market speak circles.
SYA Price at posting:
17.5¢ Sentiment: None Disclosure: Held
(20min delay)