RE: Magnificent 7.... tells us something...7 May 2021 00:37
TMT.
No problem with you mate. Your one of half a dozen posters on here I look up to, & as have always said admire your rigor & analysis.
I think perhaps in this case, as often in texting, we didnt quite communicate and it got a bit frustrating. Perhaps you havnt understood what I meant, and I hadn't expressed it clearly?
My point fyi.
There is a thought, as I read also in Zoros strong post the other day, that with what was published only (the 4.2 Mill equiv etc), that this is worth (say) 20p odd. Agree or disagree that's the premise.
Ok that's got nothing to do with potential, or extras in the yet to be formally announced holes etc. Just what's out there officially right now.
So. . Accepting that for sake of debate.... when this went past to 22,24,28,32,34 and up to my test Bid offer of 37.6p.... then I posted that it could be said it had got Over Bought....meaning for it's current declared worth... again note, NOT Over Valued, as you seemed to have picked up on.
It's not to say it might not eventually on new outputs be valued fine at 60p or whatever. But just not now, not on the official data so far, this was the premise I was working on.
Now selling as over bought isnt a trader in my eyes. Not like someone picking up 10 or 20% and moving on, not caring where it goes from there etc.
But rather as Investors us seeing what you, me and many other LTH didnt. E.G. That at that time it was over bought as on purely published data it had got out of hand - yes?
If one had the savy to sell. Clearly to buy back when it corrected down for now (20p say). To then sure await the genuine leg ups on new data yet to be put out etc.
To me that's not trading, that's rather a very switched on Investor, that I for one was clearly not. But I was Interested if anyone out there at the time had sussed it & so would admit to it, and had any lessons to share on it.
I just potentially found that more useful personally, than threads on being loads down (as I am too). As we didnt recognise it was at circa 38p Over BOUGHT...not over VALUED longer term again note.
That's it. Hope that makes sense now.
Accept you may still disagree with the theory still. But hopefully see at least where I was coming from?
Have a good evening.