Yes askier agree that the market has been ruthless with ARM... gave u a hard time on that thread for stating u sold and went as far as complaining about manipulation from forum leaders... One thing that everyone must note is NEVER take a hearts info to heart- DYOR to confirm as they make money from selling their story to us.
In saying that the hearts (Most popular posters on HC) can track down some pretty good potential stories, yet the hearts are mere mortals as well.
In terms PNX the story looks good and here are the Director trades on-market. As I do not give a toss about off market in most instances...
03-06-2010 PNX Paul Dowd 100,000 0.199 AUD19,896 BUY 05-05-2008 PNX Graham Spurling 131,334 0.157 AUD20,659 BUY 05-05-2008 PNX Graham Spurling 131,334 0.157 AUD20,659 BUY 13-02-2008 PNX Peter Watson 33,850 0.165 AUD5,585 BUY
Very minor buying on market from Directors IMO. Yet it is only has a MC of 15mil and 77mil shares on offer. So if copper production turns into something special it will be very undervalued.
Needs more looking into for my money and nothing ST of interest appears on the horizon. Thus the tiny volume... 100K in shares.
I am a big Director follower- my previous info of the Director selling off this company was incorrect. Yet it is a substancial holder whom I will presume is much more of an insider than us.
Last buy was by a Director for a smallish amount relative to holdings and salary for just under this price. Would like to see one of the main Directors do a 50K buy at these levels... that would be nice.
Chart wise I would not touch it until 16c, as support seems to be waning. Yet the 15-16c mark been a bounce off point for several months. As it neared 10 Mil MC I guess the risk reward was good enough for some punters. 20c- ummm ahhh. We will see how they produce in the ST.
PNX Price at posting:
18.6¢ Sentiment: None Disclosure: Held
