Member Info for RICH3R

Let's hope that the recent rises are the start of a genuine & sustained re-rating of the SP (with all of the usual ups & downs along the way of course) :D

Crikey Q, that's around £70,000 you've spent inside of a week ! Fair play, putting your money front and centre. GL

PFS mid-November is my guess :)

SP nibbling up nicely this morning, I'd love to see a 37p close setting up a bullish week .....go SOLG !!

zoros it looks from where I'm sitting that maybe you've had an epiphany in your post there ;)

But good stuff anyway - many thanks !

Lafitte, if that's correct then it begs the question : who's the 'heavy seller' (if singular) and why ?

Guessing a close at 34p ??

None of us know what's REALLY going on behind the scenes in the SOLG v BHP v NCM v FRANCO v CGP v other Mining Majors MIX. Infact, we haven't got a scooby-doo.

But you'd have to hazard a reasonable guess, that with such a huge ASSET prize at stake, there will be all sorts of manoeuvres going on involving many if not all of the players.

And what I find odd is that nothing appears to have leaked so far, as to which way the wind is blowing. Something must surely happen in the fairly near future - and I'm not just talking about more drill results.

gla !!

SP taken down to test the 50% Fib retracement level (and holder's nerves) at 34p this afternoon, on very modest volume.

hi Colonel, I agree with you about markets and the potential asset value of SOLG.

My observation would be that markets largely operate in the here and now short/shorter term. They don't get overly excited by gazing into their crystal balls and wondering where things will go in the medium to longer term - and on that basis they aren't interested in tying their money up for 1,2,3 or more years until .....in SOLG's case, production realises the assets' full value.

I suspect that a decent chunk of the recent bullrun in the SOLG SP has been fuelled by sentiment and speculation of BHP or someone else buying us out, after BHP's standstill clause ended. I think that speculation remains even though some profit taking has caused a retrace from the highs.

The drill results are very good and there's plenty more coming, but imho it's the excitement of a buyout in the short term that woke the market up from its slumber. If that excitement starts to wain, then no matter how good the drill results are, the SP could sink back into the 20s and the slumber continue - as perverse as that would be.

Just my musings and opinions and we shall obviously see what develops. All counter-arguments welcomed :D

Red, we had a RNS about Rio on the 8th October saying "mobilisation of the first drill rig planned for late-October". So it's going to be a few weeks before we start to get drill results there.

190p is the 50% Fibonacci retracement level of the recent bullrun which started last Thursday. It has also been a previous support level in July & August, which strengthens the case for it continuing to be a support level now.

Fib levels don't always apply, but on the SNG chart they appear to do so :

1) Yesterday, the price fell to the 61.8% Fib retracement level at 179p - which acted as support and the price then recovered higher.

2) After the major rise on Manic Monday - the 20th July, the price fell and found support at the 50% Fib retracement level - before recovering higher in the recent bullrun from last Thursday.

As I write, buys are coming in at 192p - so there is certainly some support at the 190p level. Will it hold and recover higher again into the weekend ??

AIMHO, please dyor, gla

i wonder if anyone ever took him up on that B&B offer Pad ? We are talking early 2017 I think, because I remember him talking about a 'J Hook' chart pattern on the SOLG chart - which I think was Jan to Feb 2017.

Apols to other posters for the OT, but characters like that are part of the rich tapestry here ;)

...actually come to mention it, i think Dfens and RM are correct - he WAS banned because he kept giving live trading advice. Right character though

AIMEXPERT wasn't banned, he left of his own accord because his 'mission' was accomplished - he'd come out of retirement to earn enough money trading shares to save his son's farm. I think he was formerly a professional stock broker or the like. I'm pretty sure he wasn't farmerpalmer (always thought that was a fab posting name).

hi PROP5, there are endless videos on charting on youtube and with a bit of time spent, you'll find some good ones which you can understand and follow.

Possibly a beginner's-guide video to start with, covering : charting INDICATORS like moving averages, Relative Strength Index, bollinger bands, etc. Then there are CANDLESTICKS - which is a charting science in itself. Then there are chart PATTERNS like triangles, head and shoulders, double bottoms, cup & handles, Elliot Waves etc. Then there's support and resistance levels, rising & falling channels, Fibonacci retracement & extension levels etc. There's a lot to look at lol !

I like to watch and learn from Zak Mir in his 'bulletin board heroes' presentations which are free. It gives you a flavour of how he uses support and resistance lines and channels, plus moving averages, to predict where share prices are going in currently popular shares. He seems to post these on most trading days.

The Britishbulls.com site also allows gives you an insight into candlesticks. ( in reply to oilornothing, no i don't pay for their full service).

You'll need a charting platform in order to look at the charts of course, and there are plenty out there, but I use a free service called 'Investing.com' which doesn't require registration and allows access to live charts and tools to draw lines, fibonnaci levels etc. and indicators. Whichever charting platform you use, it will take time to become familiar with how to use them. But the live aspect of the charts is a major boon in itself !

I would recommend normally using candlestick charts rather than line charts because they show so much more info.

You'll have to devote a lot of time to learning about charting, but if you're really interested then it's well worth the effort in my opinion. And always remember, that you never stop learning, and charting certainly doesn't work all of the time - it's just a tool, as is the analysis of a company's fundamentals etc.

Best of luck !

For those interested in charts, today's candlestick looks to be a Dragonfly Doji - which, following a downtrend is often a bullish indication of a reversal into an uptrend. Has the chart been in a downtrend ? Well Monday, Tuesday and Wednesday's candlesticks in combination were a bit of a mish-mash but after the placing RNS, it could be argued that today's price action effectively moved the price into the start of a downtrend initially before recovering to form the Dragonfly Doji. We will see over the next few trading days.

It will also be interesting to see how the 'Britishbulls'website interprets today's candlestick. For those unaware, Britishbulls is a free candlestick-analysis site updated daily in the evening. I always keep one eye on their site together with my own research, and anyone taking a peek on their site just needs to input the SNG ticker (or any other share ticker) into the search box on the top right of the page.

gla

AIMEXPERTTRADER will be making of current events with SOLG ? That 'fella' certainly appeared to be a switched on poster. Hey AIM fancy reincarnating for a while to give us your thoughts ? Regards.....

hi mwv1 - a very big hint I'll wager !? Why else mention it ..... :)

thanks robert, that's SWEET !