posted the following in relation to a flap over on Ozestock...would value any comments..splitview? does anybody know what im refering to re autotraders
It seems to me how one views CMQs sp depends on the time frame you choose to consider. Technically from a relatively short trader type time frame, I believe wolverine is quite correct i.e. the risk of a major retrace is a possibility but far from a certainty, buyers do seem to come from nowhere and the current levels demonstrate support. How long this might last is anybody’s guess. On the other hand taking a slightly longer term view CMQs fundamentals together with the fact that manufacturing is not that far off according to the CEO who has demonstrated consistent and reassuring conservatism not to mention professional and competent management, the future looks very positive. So unless you have margined or the like against CMQ and have not made adequate provision for this sort of sp behaviour ...SO WHAT! It is very easy and not particularly useful to get un-nerved by the short term sp gyrations which happen to any stock. Also I believe part of what we are seeing is the normal type of campaign launched by brokers and other manipulators of the market in hand with the usual media sycophants, this is an unfortunate fact of life in the market.( eg Aegis requires a fee for its analytical reports (independent my foot) and you can bet CMQ would told them to get lost.. the poor quality of the report supports this, CMQ was clearly not consulted..the report is ill-considered off hand and is quite possibly sour grapes Mr Zeleny has a reputation which proceeds him...also it is of interest to me that AOT/IRESS used by the vast majority of prof traders chose not to include the report in its normal Aegis analytical section) What is of interest is the presence of the autotraders.. has anybody else noticed the sequences of same number orders over the past few weeks? This and the fact that despite the brokers best efforts buyers are still buying...now I wonder who that might be? These guys attempt to make money by frightening their small clients into selling and then buying up as cheap as possible..however they don’t do that with stock unless they think it has prospects and usually short term prospects. Keep your lamp trimmed and burning ( ref Dirt Music CD…thanks Tim Winton) and don’t peer into the flame nor the darkness u cant know darra
CMQ Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
