re: re:rembrant - any thoughts? ... debono
Hi Debono, been out yesterday and today so catching up a little ...
NCP tracking NWS ... earlier this week I called the $11.90 following NWS overnight tank.
Yesterdays action again copied NWS and at open NCP dropped to $12.78 although firmed later to close $12.95 or down $0.03.
Technically, NCP has topped and indicators show a retracement overdue ... RSI converging strongly which usually indicates a breakout/reversal.
Against this, NCP seems unstoppable for what so far (yesterdays close) is a 47.8% rally ... the higher the rally, the more likely the probability of a reversal and the more difficult to pick the short term moves.
Overnight, NWS closed down USD27.80 which is about $12.45 here ... today's action seems to be following this. Note the nasty $0.40 gap at open.
NCPWOG I/Vol I have as 50.4% and is at the lower end of the offerings.
When underying peaks, the danger is that the Issuer will tank the I/Vol as the herd scramble to exit ... they ramp on the upside (Ask) ...
Haven't detected any 'nasties' with NCP lately ...
I am parked on the bench (NCP) looking for the next trend.
