For all of my healthy sceptisim re TA, you seem to be getting this one right time after time. (Of course I will be less congratulatory when the time comes that you call it down lol)
FWIW I am expecting a close above 250 today.
Re what is causing this. Of course it is always hard to say. What we do know is that there are two significant events pending. FDA approval and Japan approval, both for QFTB-Gold. As usual, the company has been very conservative about when this will happen and have only said something like "sometime in the next Quarter is likely". So, either of these events could happen at any time, I suppose. As far as I have been able to ascertain, this company does not "leak", so if anybody is aware of the imminence then it would probably have come from another source.
It is worthwhile realizing that these announcements could be considered the penultimate ones to the final step - SALES. This is a little different than many of the bios who are still back at Phase I, Phase II trials etc. I mention this as, whilst, of course, the announcements will give a spike, it may not subsequently retreat as much as we are used to on bio announcements. In fact, I suspect that we are not too far away from a re-rating of this stock.
One other thing to consider (once again as a result of the Companys' low hype practices) is that they have a habit of surprising (even those of us that live and breath this stock). For example, whilst we knew that the "In-Tube" version of the product was on the way, they completely surpirised with the commercial release of it in the week before last.
I have been thinking a little about the comment that you (and others) have often made ie that on a TA basis, CST is one of the most well behaved on the ASX. I am wondering why this is so. Do you think that it would be due to the fact that there are a solid group of investors who have done their FA research and have a huge faith in this stock? My feeling is that the vast majority of the stock is held in "investor hands" (probably 80 to 90% - I kid you not). This leaves little for the traders. I havnt thought the whole thing through but it is perhaps interesting to consider this nexus between the FA and TA?
On a personal note, Newry, I do understand that you are a trader, rather than an investor (?) However I really strongly suggest that you do look at the Fundamentals and consider holding (at least some of) your position. Of course you have your ways and will make your own decisions. If you need any FA stuff on this one, just let me know.
CST Price at posting:
0.0¢ Sentiment: None Disclosure: Held
