re: kellygirl falling off her barstool
...and another thing, to all those with little faith...
...if you believe the SLT story, relax about the day to day fluctuations and try to do one of the following;
1. If you are a long term investor; don't look at the intra-day or even the daily price fluctuations. Instead, try looking at the share price weekly or monthly...it will be much better for your health!
2. If you are a day-trader, then take advantage of price dips to buy some more. Equally, sell into unsustainable price spikes. Now...this doesn't mean sell simply because the price rises or buy simply because the price drops. Unfortunately, day-trading is a little more sophisticated than that. SLT is the type of stock that will burn the fingers of the inexerienced day-trader. My advice; do not attempt to over-trade this one unless you know what you are doing...otherwise you WILL regret it!
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Given the recent trading pattern of SLT, the price is obviously at a key level. It would appear to me that 40c is a sell trigger...anything higher would be seen as a bonus by the sellers. (It's interesting to note that 40c is exactly double the listing price...100% profit!)
Now...the fact that the seller/s have been able to obtain higher prices (42-44) in the face of their constant selling pressure, I see as a good indication of the degree of interest being shown in SLT. Even if the price drops into the high 30's at some point, which is possible, I won't be at all concerned...in fact, most strong rallys begin just after short-term, panic driven price drops. So, if you feel impelled to panic sell...do what I do and ask yourself this...would the price I am about to sell at, be a good entry price into the stock? It may help you see things more clearly.
I am 100% confident that when the selling finishes, which it will, and the price begins to move again, which it will, that buyers will be falling over themselves trying to get on board! There won't be any fanfare or other obvious signs when the selling is over...just a slow, sustainable increase in shareprice into the high 40's, followed by a panic driven rush into the high 50's due to the limited number of shares available. At this point a new group of profit takers will move in and the whole process we are currently going through, will start again.
By the way...I don't subscribe to the 48c ceiling on these shares. I see the next resistance/support level somewhere in the mid-high 50's...guess we will just have to wait and see.
Cheers!
SLT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
