FCN-d'Bird?

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dogalog

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Post Number: 937
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Thursday, March 10, 2005 - 10:31 am:

What about this one,HC? it's got an interesting possible takeover angle that seems to have passed like Cloughs.[directors selling out,no shareholder chance for Jubilee]
So what ya reckon,HC.latest fall due to news they found Nothing after a dozen holes drilled 4platinum,copper,stuff like that.
Should we send them a note to announce they should look for Lithium or would that be too admiralty?
cheers,
jr

dogalog

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Friday, March 11, 2005 - 10:45 am:

Too slow a morning for my taste,did d'chuck at 73c,of course the buyers will arrive in the afternoon.Par for the course but the sellers of large[50k+] this morning seem to accept 73 so so did i.[3 day notice for monday coming on wednesday's volume?]
cheers,
jr

holycow

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Friday, March 11, 2005 - 01:38 pm:

Dr,

The stock dropped 3c today - good decision to bail.

Cheers.

HC

"... if you've got a chart, I have an opinion!"

dogalog

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Saturday, March 12, 2005 - 10:57 am:

Holy Cow,What's your research show about this 'Bird'?
What's the gos on this Takeover and Jubilee? It appears to me that a big distribution from the canny to the clowns[that's me]has gone down.
I watched the depth on this back at 92 cents,buyers would step up and there was always someone there to accomodate them.It touched 95c and that was it.No seller restraint,no tossing bulls head,no there was just the BEAR down.

Then at 8 minutes to closing time,some garbage report comes out 'We've found traces' is it's best spin and ,well it all just collapsed,hey HC?Broken support,i can see no chart pattern between here and 14cents for it to bounce off,other than the Takeover dream kicking in again[or of course that fibbio dude's natural world science being relevant to the stockmarket]

Anyhow,hc,i know you're no guru/expert.I wouldn't ask if you were but can you give me your thoughts on whether i should keep watching FCN and any background info on it's Habitat,where could it fit in?

regards,
jr

holycow

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Post Number: 932
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Saturday, March 12, 2005 - 01:35 pm:

FCN Weekly
fcn

1) base on the weekly chart, if I have to make a bet I'd say the 61.8% fibo level will hold. Remember this is a weekly chart and for each bar there are five days for an average seller to ponder on whether to hold or to sell - if by Friday close he/she is still holding, chances are he/she will still be holding by the following Friday close. Coz the decision has been made, I reckon.

2) let's consider the plunge in FCN - it's caused by BHP taking over WMC which creates uncertainty with the joint venture between WMC and FCN. This issue will not be resolved until the BHP/WMC takeover is complete and probably even by then BHP may not be too bothered with FCN after all to them the joint venture is just a small fry.

For a quick resolution I guess it depends on FCN's management to press the issue with WMC or they may be in limboland for quite a while - this can be "draining" on FCN if it drags out too long. The ideal outcome in my view would be for FCN to get WMC to sell out to them or to Jubilee which would remove the question of funding for the project assuming Jubilee is willing to provide the cash.

(But you know this is just pure conjecture at this moment.)

3) Looking at FCN independently, I believe if it has been "honest" with their drilling report and finding, and base on Jubilee's taking a percentage of it - I'd assume there's no change in their "potential" reserves, hence no change in its "fundamentals" other than it needs a financial backer to dig out the ores from the ground and sell them for cash (this is the tough part!)

4) the unspoken words - if this support breaks, there is no telling where the price will drop to; if the price were to bounce from this level, it is a sell to get out if you don't like to place the fate of your money in FCN which depends on WMC which depends on BHP which depends on the completion of the takeover which again depends on there won't be any more new bidder coming in...

The strong is too long!

HC

"... if you've got a chart, I have an opinion!"

holycow

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Saturday, March 12, 2005 - 02:00 pm:

I mean the "string" is too long.

HC

"... if you've got a chart, I have an opinion!"

dogalog

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Saturday, March 12, 2005 - 02:19 pm:

Both work for me HC.Glad i gave it the bullet.
There's Jubilee takeover mutterings as well.I haven't followed it,cancelled my Fin Review subscription,thought 'I don't need that,i got hc,and IC to keep me informed';

i think penny pinching might be contagious,hc!
Anyhow i'm out of it,FCN that is,so it can go to Limbo as far as i care now.
Just sit back and watch the story unfold.Isn't one of the BEST things about the stock market that it's always going to be there?Like you can just walk away and its there when you return.[bar d'revolution of course but that'll never happen]
Anyway,hc,thanks for taking the time to update me.I think i'll take an afternoon nap,carefree now i done d'ditch complete re FCN.

regards,
jr

vbj

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Sunday, March 13, 2005 - 05:20 pm:

Hi HC,Would appreciate your thoughts on PMP.Do you think that is a double bottom forming or are we heading lower. I'm hoping the former but thinking the latter.RSI and MACD turning down again.Not looking good.Stop loss set at close below 1.94.Would love you thoughts(TA that is)
Val J

vbj

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Sunday, March 13, 2005 - 05:24 pm:

Sorry jr I should have started another thread, please forgive me.
Val

holycow

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Sunday, March 13, 2005 - 06:24 pm:

Val,

Check this out...

HC

"... if you've got a chart, I have an opinion!"

dogalog

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Monday, May 02, 2005 - 01:16 pm:

Any word on this one HC? don't seem to be finding anything in the minerals dept. and Jubilee isn't falling over itself to buy any bargain top up,now they're sitting on the fcn board.
Is it still tied up by WMC takeover? Do they have to find uranium? I like to check over my past losses from time to time,feel good about getting out at the right time,that sortathing,anything likely to happen with FCN in the next month,say?
regards,
jr

a chart-

holycow

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Monday, May 02, 2005 - 07:13 pm:

Dr,

This one either is a dead bird or a turkey disguised as a falcon...

At this moment I don't think there will be any sort of development until the BHP-WMC takeover is settled. With rumour of RIO may put their foot in, I reckon this one can be put to sleep... like this: zzzzzz...zzZZZZZZZ!

Cheers

HC

"... if you've got a chart, I have an opinion!"

dogalog

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Monday, May 16, 2005 - 10:29 am:

Tossing,perhaps turning,HC? nearly a 8/21 SMA cross at least,company said a week ago 'We don't know anything about a change in relevant circumstance'
Is it just a false start,a hit of exuberance,HC or should this be looked at if it cracks 50cents? whatta ya reckon,HC? may well be a double bot is forming and this is the crack? i think i'd change the term double bottom and say this is d'cleavage.i'd prefer that,to my mind anyhow.Better psych,to mind.
volume looks good,what about macd/rsi how are you suppose to read them in such circumstances?like a near 20cent rise on 30 cents has gone down out of reach so far.

cheers,
jr

dogalog

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Monday, May 16, 2005 - 11:16 am: