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Yes, RMS a good comparison. Likely to have spikes like RMS, but best to sell them, however sooner or later may just collapse. Of course like RMS upside could be great if he pulls it off, which may keep people interested for a while. I actually trust the RMS guys now, but they are just pretty incompetent, the CLP guy is worse than TB IMO, but maybe he’s a genius and can succeed.
Thanks Will.
Yeah - I read the last few RNS today and can see what you mean. The last RNS in particular linked to GM is talking about adding over 1bn of new shares to help with funding for crypto mining and Ai proejects plus giving CEO a few hundred mill of options at a mere 0.25p option price as an incentive!
By my calc that would be diluting the total shares by over 50% to upto 2bn shares and giving CEO almost 10 fold premium on options which comes across tad greedy . This sounds more a kin to what Trevor Brown would devise for his own ends
.
interesting to see how shareholders vote on this, but will watch from sidelines. Can’t be going thru another RMS type debacle
Hi Maf - the short answer is no. Yes the crypto play was always the reason for the large SP increase this year. but they need funding to do it. I sold out as the CEO just can't be trusted. They have a court case in Italy that they are supposedly going to win that would have provided a lot of this funding, but it got postponed due to covid. However, he only RNS'd this the day after the case was meant to happen, when everyone woke up expecting an RNS outlining the result of the case. the SP had spiked above 4 during the week then had fallen back on the day before the court case. In hindsight he had let friends and family sell out and make a killing. He must have known the case was postponed days before IMO. Anyway if I was clever like John I would have top sliced heavily, but ended up getting out flat. That being said the share is in the buy zone now, with the rescheduled court case sometime in May. So could trade for a 20% say, but I wouldn't expect the same spike as last time given what he did. It may get postponed again, if so he may not tell you.
Will - are you still trading CLP?
They seem to be transforming themselves into crypto miner, AI tech player with a new a company name proposed
Happy with ARB so far, SP movements give credence to theory the large down move was a ****tail of sentiment, shorters plus large seller. If the seller has gone then downwards pressure less now (seems to be what we are seeing), and if BTC recovers the SP should move up quickly. I guess a massive attack from shorters could still scupper this.
On TA perspective , BTC is now in technical oversold zone with RSI below 30 for first time.
However, When it went on new year bull run it went well in technical overbought range and stayed up there for some time, so reverse could happen here.
200MA Safety net support is still all the way down @ 34500, so potentially can still drop a fair way before rebound.
50MA is @56/57k which is support level to attack ÂŁ60k.
It’s not gone thru any period of consolidation yet this year so may well do it now in the 40s range for a while, to let everything normalise before another potential run and attack of 60k+.
But outlook overall is it’s still bullish for now
Morning all,
There was quite a good range on Argo this morning from 153 - 170, but now it seems to be going down again.
BTC now 48,221. Yesterday at 4.30pm BTC was 54,476.
Suppose the million dollar question is what will happen to BTC this weekend when we are closed.
Well if crypto does Go thru a correction hopefully it will mean more liquidity for rest of market
Morning fek.
Just when you think things are starting to stabilize and a hand grenade is thrown into the market.
I bought btc up this morning at 113.
Who knows what will happen to arb
left holding some doge as I did not get my sell yesterday.
plus side for me, nice rns from ncyt. just hope the market agrees
tin hat is on
atb
Dow Jones Industrial Average dropped 252 points.
BTC down from 54,476 at 4.30pm to 53,300 currently.
Will there be another Argo gap down tomorrow morning.
BREAKING: Stocks sharply drop to new session lows; Bloomberg reports President Biden will propose a capital gains tax as high as 43.4% for the wealthy.
Might be buying opportunity tommorrow
Fek,
I here what you are saying. I have just started a trading pot. Also on the look out for a cash purchase flat with no lease to flip. That may mean I need to sell a few solid stocks.
It is so frustrating holding stocks which I had hoped to flip being in red. I need to keep spare cash set aside and a bit of a trading pot for the short term.