I thought I would post a few thoughts after the excitement yesterday.
1. The options are better buying than the heads - a rise of 32% against 19% for the heads. 2. We had this jump without any news or any fundamental reason. 3. There has been no real fundamental information since August and Tim's gutsy presentation which said that we were going mining and that the price should be 20 or 30 times the then current price. I know that he didn't use those words but what he said meant that as plainly as he could say. This announcement had no effect on the market but now we have this jump without any announcement. 4. I have seen this before with stocks in the micro cap area, where we have an announcement that shows a massive increase in value without any reaction to see a huge jump months later without any announcement. 5. The share market is a queer beast. 6. We may, at last, be on the road to a reasonable value. 7. The best promotion a share can get is to be at the top of best rises for the day. Every trader in the market will have a look, many for the first time.
Monday will be interesting.
ESS Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
