Morning all,
First of all it was nice to see the NASDAQ, DOW and S&P react positively this morning (our time) after a 5-day rort on Brexit fears. Each of the three indexes has thrown up a relatively large bullish hammer (reversal candlestick) which will need to be confirmed with a higher high either tonight or
Monday (assuming we get an inside day tonight).
Locally, the SPI 200 futures contract acted similarly (small bodied candlestick with an extremely long lower wick) which should translate into consolidation on the ASX and Asian markets today (if not a small bounce), with likely renewed interest coming from big pockets and other traders speculating on the potential of a reversal.
In stark contrast, Gold spiked overnight but was unable to sustain a move above US$1300 and a local (if not medium term) top looks to be in, but again confirmation will be needed tonight (IMO).
Secondly I would like to respond to madmacs post from earlier this morning.
@madmacs, certainly no emotion or no offence taken to your comments. Actually I am completely humbled and honoured that you have gone out of your way to respond to one of my posts. As a bleeding heart, your status as a devoted trader is well recognised on HC. And I am guessing that if it wasn't for receiving a few more
thumbs up than usual, you wouldn't have bothered to respond at all.
As always, I welcome your or anyone else's input and opinions if they are backed up with sound reasoning. That is what this forum is all about IMO, to present the facts and express your opinion and most importantly, to continue to learn based on substantiated input from others.
I note that you've started a new thread on my behalf, not something that I think is necessary however I'm humbled nonetheless. Your choice of headline
'strength in numbers' is a good one IMO as it accurately reflects the large number of retail holders who refuse to sell XPE despite enjoying 100-600% returns. In fact, many like myself have and stated that they will continue to accumulate on weakness.
And let's not forget about the 600 million odd shares held by our incredibly talented management, again strength in numbers in terms of owning almost a third of the total scrip once all is said and done.
Referring to your chart, whilst I acknowledge that the MACD and Stochs have yet to cross over on the daily, they have begun doing so on the shorter term charts i.e. the 2 hour and 4 hour Stochs have crossed over and the MACD is about to cross over on the 2 hour chart.
Therefore the question I have for you is, if you were an advisor or broker then would you be recommending to
sell or
hold based on where we sit ATM? You have told us that you aren't ready to commit to buying in just yet but the fact that you are commenting and keeping a close eye on the daily MACD and Stochs suggests that you soon will. I can tell you that I (and other well researched investors) won't be selling to you.
Your opinion is always valued however I would like to make it known to others that bleeding hearts and other well respected traders have been known to get it horribly wrong in the past. eg. Gassin over at SBB (bullish at 10c) and accaeric over at IOT (bearish at 5-6c (from memory) and prior to the run up to 18c) come to mind. I respect both of these guys tremendously however I am sure that they're also human enough to acknowledge that from time to time we all get it wrong. Am assuming that you've had your fair share of
'sh*t I wasn't expecting that' moments?
In reference to Trader 10, only a day or two before he exited in the 8's, he was publicly calling for higher prices when he purchased more @9c. Good on him for calling it as he sees it and sticking to his rules/ acting on his own mistakes, but does that make him right? Only time will tell but at this point personally I think he's crazy for betting against what our management are capable of delivering in terms of shareholder value in the short term. Our management are of course only human but so far they surprised to the upside and have barely put a foot wrong and that is indeed a rare quality (particularly on the ASX) IMHO.
Vintage has made some very valid comments IMO and I suggest that
@madmacs you consider refraining from labelling other holders as 'insecure' in future. After all, there is nothing 'insecure' about beating Macquarie and other 'big pockets' at their own game when they were offloading at 3-4c post re-listing. At the time I recall some well respected posters calling for lower prices.
However in the end Macquarie were outsmarted by those who had done their homework and early holders should feel very content with that fact.
Finally, on the FA side of things, thanks for the genuine compliment (I hope).
Was looking over some past anns. last night and stumbled across the following in the March quarterly which may be of particular interest. given the date which it was posted.
Extract from March quarterly report dated
29th April. 2016.
View attachment 195755
Given that it took our team approx. six weeks to successfully port and test its ADRC technology on Intel's
IOT Gateway platform, is it unreasonable to expect that they could achieve the same onto
product lines from both US listed companies mentioned above?
If so, then we should see a
formal agreement or two any tick of the clock.
And just in case you hadn't figured it out already, six weeks from the end of April is.......well now
Stay tuned.
Cheers
Elpha
(20min delay)