Jazz, tetete, I am a long term value investor, a turtle hence my moniker.
I saw value first time in SIR at 50c when it did a 10 bagger and was reported in a newspaper business pages.. I then thought surely its done its run or maybe I buy in here but thought the volatility was too high but project good.
So I would not buy SIR at $3.00 or above just on TA alone. The graph looks terrible it cant crack this 3.15 level for 4 times now and hold, np up thurs nt yet SIR down, bad sign.
on TA tetete you are more negative than me but i get it as you short the tall poppys, the banker darling friends of SIR look like they are doing that too.
On FA im sure Dennis the legend will get it to production but at what cost and what SP. Even he hasnt bought SIR shares on market unlike what he did with POS. He has great expectations to deal wit n no room for dissapointment.
If I see a ni producer undervalued by 50 to 80% then that is a potential, look at book value, production, grades, ownership of mills or assets etc..if it adds I wait for 3 to 4 years for the collapse then buy at bottom SP then hold until market realises true value.. I did this MCR WSA POS MBN. Not SIR now. SIR at 50c a bargain, as is mcr at 60c, mbnat 3c pos at 10c wsa at 2.00 now 4.60. These producers will move strongly in a lower aus$ higher NP$US. Instant super profits for same work.
Yes I may lose out now n then, but as I said I can wait 7 years for the market to find what I already worked out years before them. I do like SIR as a story n Dennis apt was genius but no income nlarge debt n cashburn for 2 years is painful...the same criticism was levelled at ANL b4 in the 90s n now at POS but they both did 30 n 10 baggers b4. Im not interested in 3 baggers, or monthly trades, that may pay the bills or get you a new car but a 100 to 1000 bagger will make you amulti millionaire likefrom FMG or ANL b4 the drops.
I trust Dennis can do it in NI again, I really do. But not in SIR at this MC right now.
SIR Price at posting:
$2.89 Sentiment: None Disclosure: Not Held
