What next?
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From a weekly perspective, KNB remained flat on 4.4. It made a high of 4.6 and low of 4, so seems to have stabilised after a big volatile week of recent times. Volume, very high because of cross trades on Tuesday, but now stabilising.
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So what is happening? Punters still trying to understand what is happening. Most have no clue. Price action and trading pattern reflects that..
Personally, I exited this week in my third play this week. My first play from 3 to high 3s. Second play, a big one to 8s from early 4s. 1 bag. My third play, last week at 4.4, I got out this week at 4.5/4.6 - mostly brokerage and some pocket money.
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Why am I not playing KNB anymore? Mr Datt and one another big holder were key for my play here. But mostly Mr Datt. I don't know why he exited. I have read recent posts, so I may be missing something. The major reason I was playing KNB because of Datt, and it was going up. You don't want to play a stock which people are deserting, and its going down. Simple. Full stop. Blunt.
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My big concerns? Yes, Mr Datt and another big holder who was to happy to cash out. If KNB was going to going great guns, why would they - you don't have to accept, but have to think. a least. My gut feel - If money is to be made, people find a way, so doesn't look good. KNB rose from 3 to nearly 10 on back of Datt.
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My main concern - If money was to be made here, and after Datt put so much here, he would have stayed. If he had felt his money will make more here than elsewhere. I felt the same. Gold sector is doing all right. Its better to play some Gold stocks which will run on good Gold sentiment then have to worry about Datt/results etc. I know gains can be bigger else, my risk/reward said taht I shouldn't be here.
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My side concerns on this thread? Mr Baby and Mr Luke, big spruikers of the stocks have nearly gone silent. Honestly, spruikers, otherwise I wouldn't have mentioned. I am honestly, play with my heart, write with my heart, but there are some who who will suck you win, and exit before you know, don't want them as your friend for sure, I am keeping away for them, for sure, there are better buys on Hot Copper. All the best.
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So what may happen next week? I am out. I will be watching. Reason I am out is because I am not very positive. But that doesn't me I am right. For holders, I wish, something good happens. All the best.
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