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So basically you are gambling?

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maya.m

2,278 Posts.

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02/02/17

12:31

Post #: 22317281
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Originally posted by ozblue ↑

We all know this is either going to fly or tank on the drill results that are out any day now, so IMO this sudden shake out is from those that bought cheap 2c or so, hedging some of their bet. It is the smart thing to do as you reduce risk hugely by doing this.

Also the bigger players will play with the price enough to trigger stops and make it look bearish, before buying as the last of the stops go off. I can easily see something like 8c tested, below the support level, as that is what the professionals do these days, take the price just below the support point, to set off the last of the stops. I'll be looking to buy some more tomorrow should we get that low, or any lower than today.

It is risky waiting for the assay results, that IMO will show good grades of mostly spodumene, as looking at the drill cores, there is not much of the colour you would expect from lepidolite, so what we have seen should be good grades.

Waiting to grab some more down here is a risky business, as good core results and we go up, possibly open with a gap to 20c. Bad/poor assay results and we gap down to 5 or 4c (or more!!).

Those that would argue the charts are telling us what the results are already, I'm afraid I just don't believe, as taking some off the table when you already have a 5 or 6 bagger makes far more sense, and the drill cores I could see looked good.
The risk is in waiting too long to buy at the cheap prices, but I have enough to not be too disappointed if the price rockets up on results tomorrow or Friday or whenever.

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So basically you are gambling?

ESR Price at posting: 8.8¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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(20min delay)
Last 1.5¢		Change 0.000(0.00%)		Mkt cap ! $12.72M

Open	High	Low	Value	Volume
1.5¢	1.6¢	1.5¢	$17.33K	1.114M

Buyers (Bids)

No.	Vol.	Price($)
4	1157426	1.5¢

Sellers (Offers)

Price($)	Vol.	No.
1.6¢	350000	1

View Market Depth

No.	Vol.	Price($)
4	11258730	0.006
14	13281349	0.005
4	2375001	0.004
10	9930684	0.003
6	9015000	0.002

Price($)	Vol.	No.
0.007	11109942	13
0.008	870378	4
0.010	2773960	3
0.013	5000000	1
0.015	800000	1

Last trade - 15.54pm 15/11/2024 (20 minute delay)

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So basically you are gambling?

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