Kwaidan,How did my AMU trading go? Actually not too bad, first...

Kwaidan,

How did my AMU trading go? Actually not too bad, first trade bought in at 33c and sold at 40c, second trade bought at 32c (the time I posted) but stop loss was hit soon after and sold at 29c. The mistake I made the second time was buying because the stock appeared cheap, instead of waiting for confirmation it had reached its short term bottom and was heading in the right direction. This is exactly where I see NXS at the moment.

I wouldn't be entering NXS until we see some decent buying. The chart looks bearish - surely you can see that. The fact that there was a spike in volume on Nov 14 where it couldn't reach a new high is a danger signal. Why wouldn't you wait for support at 30-31c to be genuinely tested before buying? For me, I don't think I would look at buying this stock until it broke through 40c on decent volume.

Mate, you have your production from Longtom, you've got all your Crux rumours and so on, but the market still only values this stock at 31c. That in itself says something ain't right.

We've seen a 50% gain in the overall market this year which, lets face it, is not sustainable. If we do see a decent correction what do you think will happen to NXS?

The forum is for 'short term trading' and as a short term trader that is my opinion. Sorry if my opinion doesn't fit in with all the backslapping like this stock is undervalued, we'll all make heaps of cash, blah blah yawn yawn.

I wish you luck with your investment in NXS, you obviously do your homework and I hope you make plenty of cash out of it.