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Ann: Capital Raising, page-90

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Stu T.

168 Posts.

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13/03/18

18:19

Post #: 31724560
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Originally posted by chillicapital ↑

I find that SAS threads have too many posters with rose coloured glasses on.

Sadly, I too was sucked in by the "sexy" story of SAS, and have nearly broken every trader's rule for self-preservation, having entered for the first time at 26.5c. Last week I drew the line in the sand, and took a loss of nearly $3,000 on my small lot of 50,000 shares. (My redeployed capital since has already clawed back almost all of my losses elsewhere.)

Call me a heretic, I admit that I have lost my faith in SAS presently. There are better opportunities out there. And before you shoot me down as another downramper, please have a look at the SAS chart.

View attachment 1008853

Last 10 months have been nothing to crow about. In fact the trend lines point in the wrong direction! Presently sub-10c, even 9c cannot be ruled out. There will be some heavy lifting before this sinking ship rights itself.

Please note that SP for the last 10 months has spent mostly under the 50 day MA, and until that changes, there's not much to be done.

Disclosure: Will reassess my position once/if SP touches 9c, or crosses above 50 day MA.

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Warren Buffett, Peter Lynch, and Benjamin Graham aren’t fans of charts. Buffett once remarked, "I realized technical analysis didn't work when I turned the charts upside down and didn't get a different answer."

Last edited by Stu T.: 13/03/18

SAS Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Ann: Capital Raising, page-90

Top Stories

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BCI reaches close of funding facility for salt-first part of Mardie project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

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