Good time to purchase fundamentally sound investments at a discount.
AGY isn't completely fundamentally sound (currently), but from a technical standpoint it is looking like a good buy between 0.019 - 0.021c for a short/medium term trading opportunity. As much as I've insisted on cutting my losses on the next eventual pump, I will seriously be considering betting a bit more should it drop to those prices.
Most institutional and sophs have been liquidating their positions the last month. UBS, Canaccord and Morrison are amongst the highest. Argonaut and Citi still net sellers but on less volume than the other three. JP Morgan the only "larger" insto with net positive transactions, albeit only $19k. Most of the buying volume has been retail (commonweath/IB markets).
Follow the smart money. It will be interesting to see how the insto/sophs react should AGY drift further down. Will that cause them to start buying? That's what we want to see.
IMO
AGY Price at posting:
2.7¢ Sentiment: Sell Disclosure: Held
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