Luckily I got out of this one about 1 week ago. Traded it twice for a nice little profit!
Like I've stated previously it seems as though that 22.5mil share owner at 1c (refer to latest announcement) is DUMPING on the market to realise any profits of 10-50%........Why shouldn't he - I'd do the same thing if I just got 22.5mil shares at 1c!
I really like this company but I will be putting in a bid at 1c or maybe 1.1c soon as I think that's DEFINATELY where they're heading in the short term.
That HUGE seller is gonna hit the resistance at 1.3c soon - he literally sells in DUMPS of 3, 4 & 5mil shares at a time and it's funny to see the dummy bidders get hit LOL.......then they scramble to sell the shares back on market at the same price LOL (like now at 1.4c) and in the meantime the SP goes down.
This all bears well for me as I dont hold but I WANT the SP to go down in this calculated way which I picked happening as soon as I saw the latest announcement cause when it hit 1/1.1c I'm gonna load up bigtime for a long-term hold.
Anyone else follow ETC or hold it?
ETC
entertainment media & telecoms corporation limited