re: pro trader Well everyone is saying that if the company...

re: pro trader Well everyone is saying that if the company announced now it would be swamped by tax loss selling. That does not make sense considering it has just run up from 29c to 49c on nothing but rumours. I personally believe that it ran up as people were expecting to see the CEO briefing and it is later than was expected. However considering how hard it ran on nothing I am not surprised to see it retrace as I posted this morning. It is like anything there is a lot of hot money that went into this stock and I think there was a lot of hot money getting out today. They are not looking at the company and are only trading on volume and direction. When the direction changes then a lot of this money exists at all costs which is what I think we saw happening today. There will probably be a fair bit tommorrow morning as well and there maybe another opportunity to get back in under 40c in the next few days.

The future of this company's share price I believe is reliant on them meeting forecast(however I think there will be a little disappointment in that they will probably use the sale of the asset to achieve this) and more so the future prediction by the company CEO. My only concern at the moment is that he will be very conservative say around $13 million and this will not be recieved well and we could see a fall in the shareprice quite quickly . However this will give the long term players a good buying opportunity as I personally believe they will meet these targets they set easily.

Next few weeks are going to be interesting