I am not an expert in scanning and graphs yet my programs tell me demand is x3 supply currently. Depends on the calc your use, yet mine tells me we need to break into new highs after 7.7c to be counted as a true break out.
STers will have recommended Stop losses at 6.2c as my program recommends.
Scanning and graphing is only for ST Traders IMO. I am an investor in this play as opposed to trader. I do not see that it is being played by daytraders yet...
Seeing the volume rise and SP going up obviously tells us that we are getting more interest from Investors rather than traders IMO. As the Coy is not being touted heavily by daytraders on all the forums.
So fact is this is more likely to be a genuinne accummulation by a large holders or insiders. We may see a Large holder ANN in the days to come.
Value wise it is a winner and will now meet many value based investors criteria up till approx. 10-12c IMO.
After 12c we will enter the speccie relm on future drills IMO. We did stay below 6c for a long time after getting to 8c earlier last year. About time we reached new highs. IMO-is taking a long time and patience a vitue in this Coy.
As always wished I loaded up a lot more under 6c... doubt we will get the opportunity to load up again below tis level.
Anyway my ST traders program tells me accummulate now... stop loss out at 6.2 and rise stop loss targets as SP increases. Yet as I stated I am not playing this Coy as a trader... as a value investor on this play for a multi bagger return in 2011.
Regretted some profit taking on the way up a year ago on SSN. Now it is a much stronger company and all cashed up. making a daily cashflow and will make much more. Sppecie drill relm not until we are over 50% up from current levels IMO.
My 2 cents.
Cheers JAY
SSN Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
