YES AND NO. trading is not a precise science. but i will elaborate.
the last buy was because of the leak, its been trading in a band of 2.5c then it ran up, its done this before. hence that rationale for this buy...conversely you had a chance to buy it at 3.6c when it ran up....
and YES, i tend to buy on breakouts after consolidation. thats a majority of the way i do it...
but in another instance with ESI, when the SP was smashed to low 2s early this year i bought because i thought the CON note holder was responsible for the SP falling from 3.5c to 2.1c/
you will find, its hard just to have 1 rule for all and sundry, but generally the charts lead the way, sometimes i go on news and instinct....
your correct i dont think i will pick up much stock today if any, i will wait for something to start happening, closer to news, the chart is not saying to put in serious capital, but i may just put in a small amount, just to have a voice...but it will be under 5% of any position i do take.
I think its better to be open, than just say, buy and hold for 15c, you might win tattslotto before anything happens with this stock....
PS i thnk 2.1c to 2.5 is the band next, but we have a raisign coming up, so thats why you need to be careful and not go all in!
Cheers and happy trading
ESI Price at posting:
3.4¢ Sentiment: ST Buy Disclosure: Not Held
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