What can hold the slide?
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From a weekly perspective, KNB didn't have a good week. It moved from 4.4 to 3.6, with a low of 3.5.
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So what is happening? Mr Datt has left the building. Another big player too, but much smaller than Datt play. The sentiment has soured. The share price is reflecting that. Full stop.
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For many who want to believe that rise in share price from 1c to close to 10c was nothing to do with Datt, may have to have a rethink. I started playing from 3. From that time he single-handedly took the SP close to 10. Whether it deserved or not, was immaterial. So the bottom line is - SP increased due to Datt, and now its coming back because he is not there. Full stop.
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The last time SP was at this level was over 3 months back. Some of the posts I read, because Datt is no longer there, they want to dismiss Datt effect. And there are others, who look at charts, and have been repeating since 6s that charts say there is going to be bounce. At least they are consistent, even if wrong.
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Bottom line looks like - KNB is cooked. Why?
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One reason I feel why KNB may be in trouble. Mr Datt spent millions to build a position in KNB. He got Tony. Now Tony would have inside information. Just for a moment think - if Tony had discovered that KNB is going to be next monster, would Mr Datt had not overcome everything to stay in here, and increase position - because if fundamental was so strong, he could have got out from everywhere else and just played this, what ever his personal circumstances. Think otherwise. If Tony had discovered that KNB is not a big deal and it may not be a monster, what would Datt do from investment perspective - continue to play or get out? He may have personal circumstance to get out, I don't believe they may have been stronger than financial gains, and I could be wrong. Bottom line is he exited. He didn't have an hope here - it seems.
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Personally I wrote last week I got out at break even with some pocket money from my buy at 4.4. I have not bought, or contemplating to buy, unless there is a big news. I have been honest and transparent - when I buy/when I sell. Some get emotional and try to bash. especially if I am not holding, and they are. I lose a lot on brownie points, one of the drawbacks of being honest, and still write. I hope to keep my resolve.
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So what may happen next week? At this stage things are not looking great. The charters can keep talking about bounces, but we heard a few times before as well, starting from 6s - so who knows. They may be right, but we have to look at pattern, or at least I do. The only thing that can have a big affect is some news. A big news. Ground breaking. I sincerely hope it happens here. I can think of people buying in 6s/7s/8s/and even 9s, I feel for them - hopefully there are aren't any or just a few. There are so many good goldies around, so why would one take a risk on KNB? Its personal risk/reward. But not for me at this stage, without news. I wish all holders well. Gold sector is doing well and lets hope KNB gets some benefit out of it.
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