Am long, and got slaughtered today. Very depressing. With the benefit of hindsight the massive Bearish Engulfing Bar of week 18 Feb should have been a signal, not to mention a double top, with the upper shadow of that candle rejecting the prior high (week of July 28) of $5.28. See chart below.
And if I was permitted to short (which I'm not permitted to do with CommSec), what about it?
People DO have to understand that shorting is a legitimate practice, and stop blaming them, stop blaming anyone (unless there is obvious evidence of corporate malfeasance).
Blaming others for financial loss is not a useful practice, but is endemic to many HC users, day after day, week after week, year after. I've seen it since 2015.
Which is one reason I left the site a couple of years ago.
Oversold?
At this point technical analysis is useless, except for one thing - you have to respect a massive red bar like the one of this week (which is almost complete, the week, that is). This is not a "flesh wound", from which there will be an immediate "V-shaped" recovery.
This fall is based on fundamentals, business practices which have failed (if anyone bothered to read the Announcement).
As I said before, there may be a DCB on Monday, or later in the week, or there may not. If so, depending on where folks got in, it's a chance to get out with reduced paper losses.
Anyone who is badly underwater - as I am - has to understand they are now in defensive mode.
It's no longer a matter of how much you can make, but can you loses less. The pain will still be great, but perhaps less than it is at the time of writing.
SBM - WEEKLY
- Forums
- ASX - By Stock
- Ann: Gwalia Mass Extraction Feasibility Study, Guidance & webcast
Am long, and got slaughtered today. Very depressing. With the...
- There are more pages in this discussion • 218 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SBM (ASX) to my watchlist
(20min delay)
|
|||||
Last
26.0¢ |
Change
0.005(1.96%) |
Mkt cap ! $212.6M |
Open | High | Low | Value | Volume |
26.5¢ | 27.0¢ | 25.5¢ | $1.276M | 4.863M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 504936 | 25.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
26.0¢ | 186006 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 504936 | 0.255 |
24 | 790497 | 0.250 |
6 | 622210 | 0.245 |
13 | 362091 | 0.240 |
6 | 407476 | 0.235 |
Price($) | Vol. | No. |
---|---|---|
0.260 | 186006 | 7 |
0.265 | 309552 | 13 |
0.270 | 695490 | 7 |
0.275 | 577667 | 8 |
0.280 | 278431 | 9 |
Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
|
|||||
Last
25.8¢ |
  |
Change
0.005 ( 0.00 %) |
|||
Open | High | Low | Volume | ||
26.5¢ | 26.5¢ | 25.5¢ | 2707697 | ||
Last updated 15.59pm 02/05/2024 ? |
Featured News
SBM (ASX) Chart |
The Watchlist
RDN
RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
Dusko Ljubojevic
MD
SPONSORED BY The Market Online