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RSI looks overbought. Stochastics and Williams% are also overbought.
Trying to talk up the company will not cause the price to go up. If it's going down, it'll go down. Forummers are mature enough to not to listen to such talk.
More upside!
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.
More downside to come?
Price was not maintained.
Anyone can see for themselves. Fell by $0.01 to $0.195, lowest of the day!
reply to Nostradramus supreme
when mkt is down one can also make $..hence I short at 20.5cts 300 lots but by 5pm cover already..agree it will go up....when mkt sentiment improves..in fact base on vol and charts it has touched new high 21cts...but mkt sentiment weakens....if mkt improves TP 25cts shd not be a problem...I'm just going with the flow of the mkt
Price well maintained at 20c!
Why you short when you said it'll go up to $0.25? I wonder why?
No need to feel sorry for them. It has hit resistance and is also overbought as you shall see in the other thread. On the way down like I predicted around $0.20. Just $0.01 lesser than $0.21.
TA people have already taken profit at $0.20-$0.21.
I'm just glad that it's coming down to more reasonable valuations.
I short at 20.5cts....this morning and waiting to cover all my position at 19.5cts... by 5pm..cover partly only as at 1230hrs
Supply concerns increased the previous day after a fire at a rubber plant in Thailand, but such worries faded by Tuesday morning as it was not likely to affect overall supplies in the long run, Tokyo traders said.
A senior Thai police official said on Monday that a fire destroyed some rubber stocks at a plant in southern Thailand over the weekend. The fire at the rubber exporting plant, 30 km from the southern city of Hat Yai, lasted about 10 hours before it was put out after causing damage worth about 200 million baht (US$5.8 million), he said. Employees of the plant said about 120 tonnes of rubber went up in flames.
The Tokyo market had, by Tuesday morning, digested the news, which came after the Tokyo close the previous day. TOCOM rubber had climbed almost 1% by the close on Monday amid the rumour of the fire.
No wonder. That's the reason for the late buying on Monday.
Tokyo rubber futures were under pressure on Tuesday as a bearish technical trend and falls in yen-denominated metals prices prompted selling by investment funds.
I feel sorry for the FA people who didn't sell when it reached $0.215. TA people know all too well the correlation between price and volume, unlike others. Don't listen to the TA people at your own peril.
What's the TA for this stock? Stockking, care to comment?
well said, bullrun...no need to feel sorry for them, they deserved not to make money! Just make sure our pockets are full of $$$!
I happy to that GMG surged to a more reasonable value now but really feel sorry for those brothers who missed the boat! Focus on fundamentals instead of tracking TOCOM or general market trend and volumes without really knowing the correlations behind then. Continue to focus on those and ignore on the fundamentals will only cause one to miss more boats!!
"The market is clearly in a downtrend after last week's falls," said Takashi Ogura, manager of risk management at Kanetsu Asset Management.
Volume is still low when compared to the 100m + shares when it hit its previous peak of $0.18.
Finally, more people are beginning to appreciate this hidden gem!!
GMG...engage in rubber plantation..has been profitable since 2003...FY 06 revenue up 71% while profit skyrocketed multi fold due to a global shortage of natural rubber and strong demand from PRC and India..price hovering around 18cts since 27Apr 2007...touch new high 21cts..due for price break up with heavy volume traded since last thur 21June...It's indeed a hidden gem waiting to be discovered
Cheers to Bullrun, Stockking and all GMG supporters!!