Originally posted by Legman
Originally posted by Akdjnr
Thanks mate. I'm glad someone appreciates what I have to say.
I learning how to interpret graphs and indicators and giving some of my insight into trading (which isn't that long).
Today I did have a sneaky feeling we were going down as volume had dropped off. I chose not to sell and buy back lower which was a mistake on my part.
21c has shown support and it held up well late last week.
I guessed 20c would be the next area of support but there was little resistance which was a surprise. I'm not sure if people were sleeping or having an early lunch!!!
Next support area is 18 to 19c. I would think this would hold as many shares were traded here. Plus If you wanted to sell, you had plenty of opportunites when it was 22/23c. It doesn't make sense now unless you need the money or have got spooked by today's action.
The risk of anyone selling now is that an announcement drops which could propel the SP again. Many who sold in panic or thought there was bad news the other week, most likely regret it now.
There really cannot be a negative announcement as management were very confident that part of the resource would be upgraded to a reserve.
The big players know how to play the market and scare small investors like you and me. They use accumulated shares to push the share price down and hoover up people who sell in panic. Once they have there fill they will push the SP up.
There's 400m shares on offer and only 4m was traded today. Its safe to say the Top 20 weren't selling!
@Akdjnr, while I respect anyone who makes the effort to research (whether it be Charting; Co Director history; continuity of ANNS or Technical process), your enthusiastic posting continues to confuse and confound me:
>
Today I did have a sneaky feeling we were going down as volume had dropped off. I chose not to sell and buy back lower which was a mistake on my part.
vs
>
The
risk of anyone selling now is that an announcement drops which could propel the SP again
in the same post
in the same thread:
>
bots are there to push the price around. At the moment
its been set to bring the price down. As there is little buying pressure at the moment.
>
The 5min chart shows we are entering the oversold state...
A few of questions:
- who set's the bots? What is the process for the decisions to set bots to bring up or bring down? Is it a committee decision or just MM?
- can you please explain the value of a 5min chart with relation to LCK?
- what min depth would you expect the SA Gov to approve gassification chamber operation? (will this include the JORC 2C coal identified from 200m?)
Hi mate
Enthusiastic posting!! I am not sitting here ramping the stock saying its going to be 50c or $1. I have been trying to give some insight through charts and what i see on the screen with regards to bot trading.
The next announcement could be good or very good, which would send the SP up. This is what we are all hoping for!
You spend a fair amount of time querying everyone's comment's and seem to have a negative tone to your comments, even though you do not hold anymore apart from your free shares, which is not that much!
Sorry if i am confusing you. Yes selling is a risk, however i could have done it during the day and bought back within 2/3hrs. Therefore still holding in the same day, incase any announcement was made in the morning. If nothing happens its no loss to me, however i have reduced my average buy in price, which is always a good thing.
Large insto's have bots running across most ASX stocks. Some insto's/large traders target certain stocks by shorting them. Galaxy / Kidman have been prone to this, as an example.
LCK probably does not really have the volume for shorting, so bots in this case are used to drive the price up when there is volume after a big announcement or drive it down to when volume is low to trigger stop losses and get as many shares as possibly before the next announcement comes.
Charts can be shown at different time intervals 5min, 15min, 1hr, Daily etc and are used by day traders to long term holders,
5min/15min/1hr are mostly used by daytraders and short term traders. As i said these charts show LCK is now oversold, therefore a bounce could be expected.
I suggest you ask management about your last question. They would be in a much better position to answer this question than myself.
Thanks.....
