Ambivalent about the short term daily chart. Early in the trading day (10.41 a.m) but 'shooting star' could be a pessimistic description of current situation if it persists till end of day. Northern Star (NST) moving too fast to sustain the pace? Either that or being rerated as a couple here suggest. It's very strong trading the way NST has only dropped a small distance from top whilst consolidating For a positive scenario You could look at it as a breakout from a rather rough edged pennant pattern for which the target would be above $2. Very subjective as to how you would measure to speculate a target. I'd be starting from 1.30 or 1.35 to top of 'pennant' at say 1.85, giving say 0.50 to add to breakout at 1.75, giving target 2.25, lol. Not all that serious about it, just interesting situation to watch. I have perennial problem now of trying to not be 'greedy' and selling half at ~2.00 to eliminate risk in holding.
Does anyone know why the price finished at $ 1.87 with volume of 4.7 million when golds doing nothing.
Heheh, Tony must be sweating. Northern Star is not holding well at all. Certainly not a buy from the chart as selling volume and rate of descent suggest more down side. May be more than gold price, one of the major shareholders could be liquidating. I think I read somewhere that funds manager Van Eck is in the hands of receivers or something. Van Eck has been holding 10% of Northern Star. Always something that goes wrong with gold stocks - always [youtube]http://www.youtube.com/watch?v=WiN5jewMSwM[/youtube]
I've been watching NST as I sold the last lot a little early but I'm keenly awaiting for the double dip to buy back in.
Wow big drop with huge volume cross trades at the close will expect to see major shareholder announcements on Monday Was this Van Eck getting out ? Been waiting for a chance to get back into NST - this might be it.
I got it wrong sorry. The article I vaguely recalled was about Van Eyk. It was not the 10% holder in NST, Van Eck. Shooting my mouth off. I couldn't find any problem with 'our' Van Eck from searching. This is a reference to the topic I came across and mistook: troubled fund of funds issuer Van Eyk Since we have nothing on Van Eck, fwiw, my best guess now is super fickle Blackrock, the kind of big investor no illiquid juniour wants. Aren't they all pissing off out of Australian dollar investments and going back to strengthening usd or something?
Sold at 7k profit Feeling trapped as price continues descent and feel gold will go lower more likely than not. Good to be freeing up a bit of cash at least. Bloody gold stocks.
NST is one miner that was missing in my gold portfolio - Got some today (yesterday) on the open at $1.245
I just checked my trading a/c .. and it looks like a Late Notice was received to ASX .. no info tho..!?
Had another look at Commsec a/c this morning and announcement 'flag' had disappeared.. or maybe I was dreaming ..haha
My NST chart interpretation - (these charts were done yesterday, before today's large falls) NST had some buying support in the $1.20s. Should this area fail, a test of $1.09 is likely. Next couple of days will determine next direction (see short term candlesticks with wedge formed). WEEKLY candlestick chart: Close up with DAILY candlestick chart: ~ Scott
Bought back in today @ 93c either very brave or very stupid - only time will tell :lol: will double down if it gets down to 60c
^^^ Well timed so far. Gap has been filled on weekly chart [imgz=http://forums.silverstackers.com/uploads/1893_nst_wkly_nov_15.gif][/imgz] Early yet - but hammer formed so far on monthly chart [imgz=http://forums.silverstackers.com/uploads/1893_nst_mthly_nov_15.gif][/imgz] Will Gap be filled, or has an 'island reversal' pattern formed on Daily chart? [imgz=http://forums.silverstackers.com/uploads/1893_nst_dly_nov_14.gif][/imgz]
NST at one dollar mid morning Down 15% in one day (so far), Not alone of course: EVN down 16%, OGC down 13%, Troy (TRY) has hit 45c, most on my list down 7-12% today so far. NST: Monthly hammer candle has dissolved. 'Island reversal' Gap formed on the daily, Nov 11, has not yet filled