Location: Somewhere on Earth
Posted on: 12-09-12 16:49:46
I was wondering if any pros can throw some guidance for Semafo Inc (mining co with gold production) Is this stock worth to buy? It was 52 weeks lowest to 2.92, missed that opportunity but can wait to drop again. Any suggestions?
Location: God's own country
Posted on: 15-09-12 06:59:29
Check the company fundamentals.
My belief is that if the share price is going down, it is expected to go down and down to bankruptcy.
Check what their plans are? Check if they have a running gold . silver mine, so that the sale of the items can increase the balance sheet. See if they have tested any of their properties and are waiting for positive results.
My recommendation is to invest in FD's / life insurance / Mutual funds instead of testing the stock market.
Peace
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I am a Gents and not a Ladies.
Quote:Since the time you posted, stock has crashed even further.
Originally posted by high vision
I was wondering if any pros can throw some guidance for Semafo Inc (mining co with gold production) Is this stock worth to buy? It was 52 weeks lowest to 2.92, missed that opportunity but can wait to drop again. Any suggestions?
It closed at $1.95 this afternoon.
Hopefully, you did not buy in around the time you posted.
I wouldn't buy right now.
Stock is still closing below its 20 DMA.
The 50 DMA is still below the 200 DMA and the 20 DMA is below the 50.
If you do want to buy, wait until you see stk about to close above the 20 DMA on a particular day.
Then, jump in during the last 5 - 10 mins. of the day (say after 3:50 pm).
Also check to make sure volume is ticking up - it should be higher than average.
Or, jump in first thing the next morning.
That being said, I'd exercise caution if I were you.
This stock has lost 90% of its value in 1 year.
It has now become a purely speculative stock.
With such stocks, there are (and will be) wide fluctuations from day to day.
Some days it could be down 10% and then up 10% the next day.
At these levels, even a 10c. movement is a big % of the value.
Such stocks also become subject to manipulators and pump-and-dump con artists.
Be careful.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Yes, I too hope you didn't invest at the time.
Trends are a good study, but as stated earlier, you want to look at a lot of things, like financials, future estimates, industry analysis, and more. Trading, and to be successful in it, really does seem like a bit of a task.
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Madan Chartered Accountant team
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