re: small dump - big buy back! time to buy? Eccoi, this is a...

re: small dump - big buy back! time to buy? Eccoi, this is a tough one technically - I bought 40k at 14.5c 2 yrs ago based on a technical expectation of regaining upward trend channel after 2 years sideways - which turned out to be correct - should have sold 6 mnths later when it reached the trendline, as it has been a rollercoaster since!

I sold last week at 71c, as it triggered through a simple bottom trendline I placed in order to have some safety mechanism, as stoploss/profit protect settings on this stock have been a nightmare - it keeps plunging through them on light volume. Zinc is right, I don't think many mums and dads are in this stock.

The main reasom I sold early on my trigger is that there is nothing underneath on the board - a stoploss close below seventy that day left about 120k to hit 58c - too big a loss, so I exited early on the signal, and have left a simple top-down trendline in place as a buy trigger. There is often big off-screen buying, but you can't count on it as it would cease in a big enough retrace.

As the move develops, I will look for a retrace above a top to re-enter. I like this stock (which is dangerous!), and I think it will run well on the copper boom and the profits it will generate, but it often trades thinly on big ranges, so technically it is hard to trade to a plan. Hope this helps - Steve