I bought more Just so everyone can know my money is where my comments are. If I liked it at 6 - I damn love it a 1.60 - pretty obvious for anyone who is willing to read back over my posts - finiky add in there a chart over the time. Mark in my comments on that KCN chart - just to give it some context. You've just taken all my comments out of their context which is really low and quite unfair. When the herd sells, that will be the end of it for the metals market, it will consolidate and then will have formed a base. There is really no good reason (yet) why the XGD is being sold down this far other than fear/capitulation. Gold is still over 1300 USD, the AUD has dropped 6% All the miners I own are still working at a profit to total cash cost (as far as I know) including KCN (D&A is a non-cash cost, but a slows depreciation of value for example your computer's value over 5 years, you dont 'pay' depreciation, it just happens) So finicky quoting 2000+ cash cost for Challenger is quite misleading and possibly shows he doesnt really understand what he is saying, if he is implying a 'blowout' in cash costs.
I threw out fundamentals long long long time ago... Now I only hold one philosophy: "Trend is your friend".
[youtube]http://www.youtube.com/watch?v=9o30gNfPq_k#t=1767s[/youtube] Start @ 29.27 for context on picking bottoms Well if this guy can get it wrong* what chance have we got.... *caveat... i'd like a track record of being "wrong" like he has what have we here
2012-07-25 Ive been a bible believing Christian now for over 10 years - my own emotions, the need to follow the herd, sentiment and public opinion has long since lost it's influence over me 2011-11-03 Im making a buy target of $6 - and i think ill get it - anyone wanna bet? 2011-11-0 Thatx for that Fin - I still like em though... 2012-02-05 If you look at the chart there is a break as it burst through $7... so it may come back and fill - ill prob buy more mid $6 range...\\ 2012-02-22 The reason why im so bullish on this company is because it is essentially a brand new company 2012-02-23 I bought at 7.17, will buy more under $7. Short term pain long term gain. They made shrewd aquisitions as well - they didnt over pay they got their properties cheap. 2012-05-17 My Price target 3.90 - 4.5 Im hoping $5 wont hold and looking at that chart doesn't really tell you much 2012-07-25 Its in my zone 2012-07-25 Picked up some at 4.45 next order is for 3.90... but hopefully the bottom is in its hit and bounced off a longterm moving average 2012-07-26 why I think it's bottomed ... 2012-07-30 ... got as low as 4.08, I have my order in for 3.75 to meet the 200 monthly avg 2012-07-31 When this baby finds a bottom it will help us all breath easier. 3.66 - 3.90 is my next range 2012-08-17 Nice to see this stock finally starting to firm up, I wanna see slow and under the radar rising - 1% a day or so over a few weeks to creep back over $5 2013-01-13 So in other words .... you dont know whats going to happen 2013-01-24 If you look at the charts technically - they need to come back to about 4.40 - 4.50 before they move through overhead resistance. Im not surprised, i was never expecting them to stay above $5.00 2013-01-25 We're at lower support - if it goes through this and holds below - expect to test $4 again 2013-01-3 .. well why dont we just rename this stock "Bandwagon Resources" with all these new people jumping in Yeah I bought some more @$4 as well 2013-02-07 Nice double bottom, ending the day above resistance/support level of $4. Thats 3 or 4 times this support ($3.90) has been tested - its obviously pretty strong 2013-02-18 its a buy under $4 2013-02-20 Cheap 2013-02-21 There is another support level @ 3.30 - hope it holds 2013-02-22 $3.30 is a support level, if it holds.... it's bottomed... i think it will, unless the half yearly results set it off (which I dont think it will, but you never know) 2013-03-08 Im raising as much capital as I can, I recon we might have one more chance. 2013-03-08 I got a good parcel at $3.40, im not expecting $3.30 but damn I want some bullets in the pipe if it breaks down to $2.80. 2013-04-24 kcn needs to touch 2.20 or break it to capitulate - 1.80 - 2.20 i was looking for 2013-04-29 2.25 represents long turm up-trend support, I am bullish on this stock 2013-05-04 I think this might be the bottom, its 20% past the long term uptrend...I think this recent drop was the wash out bottom... Price $1.82 2013-05-16 Herd needs to sell and be done with it.... bottom happens then Price $1.62 2013-05-16 I bought more If I liked it at 6 - I damn love it a 1.60 .... You've just taken all my comments out of their context which is really low and quite unfair. 2013-05-17 Had my order in for 1.45 since the start of the big drop
from a link from jsmineset.com. this could tick me off. http://www.bloomberg.com/news/2013-...ges-scrapped-during-bull-run-commodities.html
Yeah, saw this in the paper. Wankers! Yeah, let's hedge at the worst possible time and ruin the share price recovery possibilities. I think people forgot Barrick's excellent hedging very fast!
well it seems to be gaining momentum so the return to bull market is that bit closer then. been reading about this sort of thing here and there for a couple of months now.
Wow....things can change very quickly. KCN back up to $2.90 and after a bit of dollar cost averaging a month ago........I'm back in black. Go you good thing.
be aware the 200dma is just over $3 and I dont expect it will break through that this time. So taking profits is something Im going to be doing at around that level. If you are in the black - you have the luxury of knowing you only losing gain
Thanks for the tip and advice SilverSanchez. Sorry about our little tiff - my bad. Have you been using the 200 and 50 dma for a while now? You sound well versed and I for one find these terms a bit abstract and conceptual.