I don't seriously believe you think I am Calrisian but for the record - I am not anyone other than AlphaCenturian resident of Melbourne, lol. In that regard you know a heck of a lot more about me than I know about you, yes ?
Re RMG, I don't know for a fact that you hold RMG anymore than I know or don't know that you hold any particular stock. You have always been quite discrete about such matters and such as you have discussed with me I am not about to post on this or any other site.
My RMG posts followed closely behind a technical analysis post on the subject of RMG where I expressed the view that RMG could (in theory at least) fall as low as 3.5c.
This and the fall that has already occured in RMG constitute measureable panic imho. The rats in question was a reference to the surprise departures of the CEO and CFO from RMG. See following ASX releases.
RMG LIMITED 2002-05-02 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++ MEDIA RELEASE as at 2 May 2002
RMG Limited records the resignation of its Chief Financial Officer and Company Secretary, Mr Paul Wilkinson. Mr Wilkinson joined RMG in December 2000 and has played a significant role in the company's restructuring over that period.
Mr Theo Sathananthan, currently Group Financial Controller, has been appointed to replace Mr Wilkinson.
As announced yesterday, Mr Paul Cooney, in his role as Deputy Chairman and Chief Operating Officer, will take responsibility for all operational matters within the company. RMG's Executive Chairman, Mr James Boult will continue in his existing role and Mr Tony Hodgson previously, Deputy Chairman, continues as a non-Executive Director as does Mr Robin Clements and Mr David De Campo.
RMG LIMITED 2002-05-02 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++ RMG Limited records the resignation of its Chief Executive Officer, Mr Adrian Mitri.
No replacement appointment has been made at this time.
For further information: Jim Boult EXECUTIVE CHAIRMAN
Tel: 61 3 9320-0103
Were they pushed due to the poor results announcement or did they jump ? To a certain extent it doesn't matter - the market has made its judgement and trashed the stock.
As I stated in one of my earlier posts I have held this stock (following one of your posts and my own research) but chose to exit when it did not perform to my trading plan.
If you are still in this stock gp then that is regretable. Do you not use stop losses at all ? I exited in the first week of March when support at 19.5 / 20c failed and RMG traded below support for several days. This is an absolute no - no for me technically though I know you are not a fan of technical.
