morning all,
"How forgetful we are when we’re driven by fear."
One thing I always find stunning is when one has a retracement - or a down day - anything really bar white candle days --- people always talk about the sellers ---
what is very very easy to forget is that every single share sold --------------------------- is BOUGHT by someone else.
Now, in this case - what always comes to my mind is -------------- WHO is buying?
Then I look at the graphs - daily, weekly and now very importantly - MONTHLY ----------- such a strong price rise - far too strong to be flash in the pan -- but, the volume is dropping steadily -
that is very unusual --------------- why? Well, it comes down to 'who is buying' -- who is buying when the vastly different people are selling - for vastly different reasons?
One answer comes ------------------- there is a solid portion of long term holders buying this stock - soaking it up as people take profits, lock in profits, run for the exit on market frights, fear it has topped, need cash, need emergency money, think they have found something better ----------------- but, the holders just keep soaking up the stock - and imo, several of those holders are USA based - right where this stock is going to call home ---
Aussies selling off the farm again - with zero chance of buying it back cheap - if able to at all
In the end, what it does, is leave less stock free for trade --------- exactly what we are seeing - and exactly the recipe for a stock that - well, we ain't seen nothing yet.
Well, when they get mine will be only in three possible scenarios - one, when I have another target - then I will offload a small amount, two - I will remove tranches of money off the table - at my set profit levels or three - on sellout of the company - that's it. OK OK - maybe four - when Gavin and Nick form a personal relationship and bugger off to shack up in Bali or somewhere exotic and take all the company funds with then - yeh, I would probably exit then
have a great day all
Pinto
