Well what a day - truly represents the value of AGE as many of...

Well what a day - truly represents the value of AGE as many of us know of

Yesterday I ended my note like this -
This is a good week for us to cement our SP in 7s - I am really hoping that push will come. Probability wise we stand a very good chance based on the events I mentioned. Lets hope we see that soon

Wasn't I lucky with my prediction

I was truly expecting the 7s this week, but to get it today is a big bonus.

We had very good volume today with over 74m shares traded. We were in top 10 of ASX shares traded. To get a rise in this big volume is very bullish - I really believe so. We were up by 8 pips to finish at 7.1c (12.7%). Our bottom was 6.3c and high of 7.2c. Our VWAP average today was around 6.83c - below our close, but expected as we brought the SP from 6.3c.

ASX U stocks also did well, except for few stocks. But the declines were also small. Overall the stocks which I track, the gain would be around 3 to 4%. AGE had the biggest gain of 12.7% today.

Personally I have a confession to make. I did sell some stock on an average of 7.1c. When it was languishing in early 5 to mid 5, I was writing repeatedly that we will make a gain of 40-50% soon if things go well. I had picked up a fair few. These were my trading stocks. It also gives me liquidity to buy lower or higher - happy to buy higher as my other 80% will be going higher. Also like to trade and had run out of my quota for U stocks. Also sold LOT at its high and now I am out of LOT. Will be buying some U stocks now - lets see what opportunity provides.

What next - Today gave me a feeling that value of AGE is being recognised. I feel it was a combination of our drill results as well as Global Fund which needs to do purchase. The percent allocation for AGE has not been disclosed, but I am expecting that our allocation may be good and could see anywhere from 60 to 100m shares bought. So I feel this buying will continue for next few days. Now that I feel we are out of 5.9c to 6.7c zone, next level is 6.7c to 7.8c. Three weeks back on a run we made 8.1c but could not sustain it. I feel we are in the best of times now that we can see a good push. Local factors of drilling and Global Fund is in our favour. The macro U sentiment regarding SP is changing. Shares are coming off their bottom and looking to get good gains. The combination of local and global macro should help us in going much higher this time. AGE deserves to trade around the 8s in normal circumstances. To get there we need to aim high and retreat a bit. But first step lets cross 7.8c and have some more finish in 7s. Probability is still in our favour. If dow/asx keep behaving, I feel we will march towards our next target. Lets hope so and all the best.