Took your suggestion and I got on board this morning @38c was prepared to pay more but the SP kept diving..missed the 36.5 but hey,anything below 40c is an absolute bargain here.
I cashed in my chips for a nice profit later in the day.
This is currently a good trading stock,it has high intra day volatility and lots of liquidity.Possibly back for more tomorrow.
The only thing that bugs me about this stock that seems to have everything going for it is the Noble group strategic holding on the share register.This could hold back the sp gains most of you long termers should rightly expect...but that's my view on it.
Noble has the propensity to to lock this up lock stock and barrel on the cheap and why wouldn't they...they do have the money and capacity to take this company over, fully fund the Capex/Opex and then control the offtake arrangements for the right price (to them).
It certainly may scare off other potential suitors to take a productive stake in the company.
Bottom line is that the fundamentals are very strong indeed here but I see the stock going sideways for a short time before it's allowed to make a further run up.Good reason to hold.
Intraday it showed a max 23% range ..if you bought in at 36.5 and sold at 45 you would have made 23% profit.It opened at 43 and closed at 43 just to keep the VWAP looking good.
Alpha,thanks for the reply
I mostly post late at night, infrequently and am pretty much tied during the days and evenings with what I do. So, being too time poor to do extensive research on EER ATM,hence have ruled it out for a large investment long term...until I get a handle on what Noble have in mind.
The Coal specs are a very important part of the valuation process for EER.I will spend some time on the weekend analysing the specs quoted by the company and will post my conclusions later.
Maybe Noble bought up Marks option conversions.
Happy trading and Cheers
HR
Strictly my views above ..no advice given or intended ..It's you money,invest it wisely ..capital preservation is a vital part of investing money on the stock market.Not is all as it seems most of the time.Caveat Emptor ,as they say!
EER Price at posting:
43.0¢ Sentiment: ST Buy Disclosure: Not Held
