SUM 5.45% 26.0¢ summit minerals limited

SUM Chart, page-1468

  1. 4,776 Posts.
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    I hear what you are saying, and it could possibly play out as you are thinking.

    As I mentioned there were couple of reasons I had got out. One was I had bought initially average close to 25. After that I did something which I usually don't do. As I was writing every week, I was slowly bringing down my average by more buys and had got it just over 20+. Usually I don't like averaging down. So was overweight as well. Secondly the stock had risen from 16 to 27, close to 70% increase, on mostly technical reasons (in my belief, I could be wrong).

    As I was down most of the time, maybe I got spooked as well, and got 50% off last week. I got out more yesterday, only from technical perspective. I follow certain trading patterns, and like most others, some I get right, others wrong. I will see where it settles. I will be the first to buy if I see a pattern that I am comfortable with. That day may not be far away. I feel its testing some levels now. Medium term I am still very hopeful that something good happens. Short term, I am not sure, hence my holding now is very small compared to few days back. But I could be wrong, and will not be surprised for it to make a good jump, even sometime this week. Lets hope it happens. All the best.
 
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