SUM

4.44%

23.5¢ summit minerals limited

SUM next WA1, page-787

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JandJ

10,324 Posts.

2653

07/06/24

12:06

Post #: 74213434
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Originally posted by bigpelican: ↑

Mate you seem sensible but I add this… never ever absolutely ever fall in love with a stock. Fatal to your capital.

As you can see there are heaps on this thread and all over Hotcopper absolutely hooked on a fairy tale ending. You don’t have to look hard at various company’s threads to see how fantastically promising each project looks.

You will see people deluding themselves that the usual day trader sell-off’s are ‘tree shakes’ implying the ‘big boys’ (forever anonymous) want in, when in fact anyone or any entity of substance would have gotten in early. You will see people saying the company is severely undervalued when in fact the collective wisdom of markets rarely miss or miss for long.

You will see people getting excited by ‘line wipes’ saying accumulation/re-rate has started when in fact it’s not uncommon for day traders to grab $50k-$200k worth of shares at a level in one hit and offload them a day or two later (remember the ‘tree shakes’?) a couple of pips above or park them at their exit level when there’s good liquidity, which usually invites the inevitable call that there is a ‘capper’ who must be ‘accumulating’ because this fits neatly with the pre-approved rhetoric on most threads that feeds the fairytale ending mindset.

I know you get the drift. In other words beware the hype (generally not just with SUM).

Do pay strong attention to what the ‘downrampers’ have to say. I have saved and made more money over the years pressure testing what they are saying, if only at times to discount them and confirm my strategy, than listening to the hype of a fairy tale ending.

I have bought SUM because of the low capitalisation, low SOI and as a spec could absolutely fly if the goods are there and grades are good. As a holder I would love this to replicate WA1 but there is a wayyyyy to go before that becomes a legit possibility. I wish you all the best with your investment. Cheers

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Well I gained by reading that post too mate, everybody would, as its a timely reminder that 'sentiment' on the market is as powerful as 'fundamentals or technicals'

Thanks, and GL.

Last edited by JandJ: 07/06/24

SUM Price at posting: 27.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 23.5¢		Change 0.010(4.44%)		Mkt cap ! $16.89M

Open	High	Low	Value	Volume
23.0¢	25.0¢	22.0¢	$456.5K	1.971M

Buyers (Bids)

No.	Vol.	Price($)
2	32222	23.0¢

Sellers (Offers)

Price($)	Vol.	No.
23.5¢	97209	2

View Market Depth

No.	Vol.	Price($)
1	22222	0.230
3	125373	0.225
2	93000	0.220
4	240428	0.210
6	268500	0.205

Price($)	Vol.	No.
0.235	97209	2
0.240	23000	2
0.245	20000	1
0.250	226081	4
0.255	36000	1

Last trade - 16.10pm 19/07/2024 (20 minute delay)

SUM (ASX) Chart

SUM next WA1, page-787

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Featured News

Buyers (Bids)

Sellers (Offers)

Featured News