Hi Elit,
Just briefly... pretty busy with FBR that I will sell today......
Service meeting was interesting this morning....
This is my thoughts on yesterday's trading....
There was always going to be a sort of sell off on the news and on the first level.....
There are a lot of holders in red with losses still and I believe that some are waiting for levels like 8 cents to again sell and get their money back.
So, this was expected.... there is no silver bullet after the last massive Sell Off that took the SP from 7 c to 3 c .......
The Chinese story is great IMHO...... we can't only have US.... China is a MUST nowadays... they are the creditors of the world and not the debtors.....
What is disturbing is to hear from a few here on the threads that yesterday before the announcement and on the emotional guff, I read that a few took late loans, many were buying as T2's and did not have funds to cover for it and were asking people what are the consequences and fees for that.... honestly... so many naive stupid gamblers around...... they are not investors... they are not traders... they are plain stupid naive gamblers.... I do hope they learn from their mistakes.... but, majority will only do in the hard way after losing money they don't have.... amazes me everytime.....
Now, the FIN....... strategically speaking, it was good.... they left it roll... they knew there would be profit takers, sellers that were getting their money back and obviously the many others that bought last week and when the sells were triggered they also sold off.....
Yesterday was the 4th day at 125million MC for the performance shares.... today at 5.7c we are again BELOW that.... so, you know the drill..... what Mr. 22 years from Shaw Stockbroking and his team will do......
TA - the chart looks horrendous.... a massive
large black bearish engulfing candle ...yes..... will it continue to drop? possibly... but, if "they" let it happen, will it impact on the company's and FIN's strategy ? YES.....
So, technical's as CHARTs might get "detached" here as already pointed out and observed by some here.... as a different technical's kick in....
mind you, the GAP CLOSE yesterday was one of the best things that could happen to TA in this stock IMHO...... it's perfect now to rise again in combination with the company's strategy, new lead and mostly important, the FIN strategy that is sustaining the SP strategy.....
Interesting times ahead.... and there will be more sell off in smaller scale on the way back... until it breaks 11 cents..... 11 cents is the major level to be broken here IMHO.....
Note: Elit, you need a new hairstyle after yesterday SP movement ? the Salon is open after 5pm this arvo.... Moet and Cuban cigars will be provided.. lol
cheers
T10
(20min delay)