It seems as though the CVI bottom has been revealing itself in all of its glory in recent days.
I am inclined to agree that a few hopeful punters have finally had their arses kicked and have wiped this stock in disgust. They say that the job isn't done until the paperwork is completed, but as of today, T plus 3 could see a new breed of investor emerge, as we now continue to negotiate the sub prime sewer ahead.
I'm hoping for a V shaped bottom, rather than a wide expanse of bottom, or heaven forbid a double or triple bottom. Time will tell. Bottoms are attractive in stocks with sound 'funnymentals', as tucking a bit of money into the chart crevice, usually makes tin arsed investors wealthier.
Apologies in advance SP if you find my preoccupation with bottoms distasteful, but I suspect that the current potty training that has been going on, is just about finished. The stock has been prepared for the next leg of the journey onwards and upwards. And no doubt there will be a few toilet stops along the way for those without the stomach to see this through to the end.
The final destination of course is the emergence of a mining house with its tentacles spreadeagled across an impressive array of resources including oil & gas, copper, gold, uranium, beryllium and diamonds.
Please correct me if I am wrong, but haven't we just bounced off the bottom with the release of Smyth's update? I could have sworn that they were 15 - 15.5 when I started writing this. And right now they are 16 - 16.5
Anyway, cheers to the faithful
Regards Nev
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
