You need to be very diligent trading the ASX or any market. CEO's and Directors get away with financial murder while they have their snouts in the trough. This is why we have stops and mechanical systems that DONT LIE. Even though some compare Tech Analysis to Tea Leaf analysis. Quite funny really.
In regards to SMNs tanking, this has not surprised me one bit.In fact, I've been saying this for some time and advising many not to buy. It's like a ladder (price ladder) as each step is broken you need to understand the momentum, velocity and the emotion behind the price action move into the next support or resistance level. And in regards to that my systems have negative since $2.60 where I sold.
The positive side is once we have a bottom it's going to be a great opportunity to get long if the fundamentals are true. I believe they are and once this sell down is over which could take some time, as we don't know.
Portfolio management will be adjusted in may/june 17 for tax reasons which have the potential to cause SMN to fall further than anyone can assume or predict.
Will the US tank? Humpty Trumpty's roll out of his tax plan has the potential to turbocharge the markets. Yet Yellen at the FED is talking up interest rates. We are all entering a market condition that has never been seen before.
In the future SMN has the potential to be a Disallowed $10 per share so there is no point getting upset and emotional. Instead, understand the opportunity you are being given and control your risk. That's all you can do.
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Last
71.0¢ |
Change
0.020(2.90%) |
Mkt cap ! $97.52M |
Open | High | Low | Value | Volume |
70.0¢ | 71.0¢ | 67.5¢ | $57.08K | 82.73K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1190 | 70.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
71.0¢ | 57336 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1190 | 0.705 |
1 | 670 | 0.690 |
1 | 2000 | 0.675 |
1 | 20000 | 0.670 |
1 | 15503 | 0.665 |
Price($) | Vol. | No. |
---|---|---|
0.710 | 57336 | 3 |
0.720 | 10473 | 1 |
0.730 | 13487 | 1 |
0.735 | 57143 | 1 |
0.750 | 30400 | 4 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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SMN (ASX) Chart |