Hi Dr S. Long time no jibber jabber! I believe the volume over the past three sessions puts a big tick next to your assumption. I did not foresee THIS much volume flow in such a short span.. but I did expect that sentiment solely off the back of MW's successful involvement in other coys to drive the SP North here. No question. I'm actually surprised so many seem late to the party to be honest. At least that's what it feels like.. Although I guess you can't be everywhere of value at once.
I'm concerned a touch that SRT hype might have jumped the gun a little bit and as we know on hype driven stocks what goes up must follow the usual fib retrace..
The cleverest traders got into SRT early and would have had a finger in here early too given the value upside on offer. That means I'm not the cleverest lol but that's cool. I pick my mark and stick to my guns. WPI will move up from here I think that's a given but there could be a retrace here soon if the terms aren't as favourable as the masses are expecting over at SRT. Might not be much though.. But just like any of these shells they rise and fall. Just gotta pick your entry/exit strategy and watch for bounces off support for re-entry really. Not that simple I know.. But you need to back yourself as there is still $ to be made on both SRT & WPI. If there is no news flow on an acquisition over the next 4-6 weeks (pick a number) interest wanes and SP drops (look at SRT retrace to 1.4) WPI just like every other coy in a similar boat will not be immune. Until the technicals show otherwise I'm staying cemented right here
I will never forget calling the bounce over at AZK after 5 or six days of consecutive freefall and going all in late on a Friday only to be slapped with a trading halt with the announcement of milestone 2 reached. It was the perfect trade. Made $30k on open and sold the lot lol. My balls of steel were aching though waiting for the news. Did not sleep hardly a wink in 3 days!
Disclaimer to my last post:
I do not recommend doing what I did as it was bordering on stupidity. Pre-open before the halt I was quickly changing my mind on my bounce call as pre-open looked terrible. I had no choice to sell as it went straight into a halt before I could take action. Not a smart move but a lucky one all the same. I got very drunk at 10.30am that day..
Anyway novel over!
