its only 11am and volume is already 4.7m. Looks like we are up...

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sf120

3,014 Posts.

3673

23/04/19

11:01

Post #: 38233213
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Originally posted by sf120: ↑
********** and all the others are simply commentators in my opion. In this case it is an age old approach of "The trend is your friend". Being number 1 shorted , its just easy for everyone to say they are geniuses when all they are doing is following a heard. Question is, has the heard left now? (i think so) Or is GXY really only worth 300m for everything?

Those who sold out on fortescue down at 3.30 would know all too well how they missed the prize. and those that made money on Forescue going down certainly did not make as much money as those who bet on it going up. So GXY is similar, people made alot from 3 to now. But rest assured people will make more from here to $5.

Thursday was an important milestone where we threw out the unknowns, we threw out alot of investors (the 23m volume). And now its a matter of surplus shorters continuing to believe a herd is there when in fact they have left...

Speaking of Fortescue and Wesfarmers, seems like they really want some lithium.. I can definetly see a scenario where either of these two spark interest in what is a world class acreage, with an asset primed to supply north american, brine assets and heck throw in a sh*t load of cash... Sounds like a takeover target minus the unfriendly board
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its only 11am and volume is already 4.7m. Looks like we are up for another high volume day.

Here's a similar price action from June 2017 (which was 5 months before we hit $4)

GXY
2.03
3,668,557
1
GXY
1.92
3,100,706
2
GXY
1.76
8,628,638
3
GXY
1.55
17,292,933
4
GXY
1.64
11,478,824
5
GXY
1.67
7,373,392
6
GXY
1.75
5,242,598

Look familiar?

GXY Price at posting: $1.61 Sentiment: Buy Disclosure: Held
11 Upvote

0 Great analysis

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