SUM Chart, page-1437

Have we confirmed our lows of this phase?

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Last week I had asked if we can hold this level, around 18. We have done very well. We finished the week at 24.5, close to 35% increase, which is very good. Also touched 27. But the stock has come down from 59, so still some way to go.

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So what is happening? Not sure. One thing I know is that we may not get any adverse announcements. That can happen on drilling, which we are not. So that's positive. So what can provide up momentum? I feel sentiment, technicals and some big pockets. Not sure what was the reason for rise, but any gain is good to have. Especially in spec stocks, where it's still not a good play.

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Personally I let go half of my stocks today. I was down most of the time after buying. I also felt technicals may be in play. Also, for those who read my posts, I do like to trade. My heads were 20.5 and oppies 6.9 as I wrote last week, so took roughly 20%. Will happily buy higher, on positive play, some news etc. Else will wait to see where my next buy is. When I sell, some get upset, but this is my normal play, I play level to level, with a portion of my stock, most happy to buy higher. So hope some understand.

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So what may happen next week? This week was a good play. Today was the best. But unless we get some news, I feel punters may wait for some confirmation. But sometimes, most play happens because some are in the know. A good week, let's hope we get another one next week. Enjoy your weekend and all the best.