Thanks @drg I have a large holding in SXY that I am keeping long...

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tt2000

2,345 Posts.

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21/08/18

16:26

Post #: 35069765
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Originally posted by drg ↑

Hey tt,

I have a largish long term holding with an average entry of 24c, won't be selling any of these until we are above $1 as I believe in the story. Then I have a holding about a fifth of the size of the long term holding that I trade in and out of using CFD's. I offloaded some of these last week in high 40s, not worth holding these long term with the interest component. But did a bit of a short term trade today at 44c. Might double down if we hit 40c (200 dma). If the 50 dma dropped below the 200 dma I would be reconisder. After watching the SXY chart daily for years you get a bit use to the ebb and flow of the security. One thing I really like about the SXY chart is all of the moving averages are nicely trending up together. It really is a good looking chart over a medium term timeframe, but it has been a slow grind which isn't a bad thing sometimes as it becomes a bit more predictable. I think a good rinse and repeat around these levels will be good as it's coming back to test the old resistance level.

So far this is the only news I have seen on the result from Citi...

The market appears to have balked at what Citi believes was very much were in-line results from Senex Energy, perhaps because there was no year-ahead guidance as it finalizes a debt financing facility for development drilling in Queensland. In Citi's view, investors underestimate the reserves at the Atlas coal-seam project in Queensland, and despite a later start to drilling, the investment bank still believes first gas will be in late 2019.

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Thanks @drg

I have a large holding in SXY that I am keeping long term, but may also start trading this (by buying a smaller parcel now to start trading) - it does seem to follow quite a pattern.

Please post potential trade ideas on here. I am not a fan of T/A, but you were spot on, and feel like it will be something to do while we wait for the stepped change in earnings, production and share price!!

Cheers
tt2000

SXY Price at posting: 43.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Thanks @drg I have a large holding in SXY that I am keeping long...

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