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SFE $35 7/8 Just below 50 day m/a. 200 day m/a around $33. The long term stochastic that helped with the buy at $26 3/4, is now as oversold as it was then, previous oversold was Oct. It just entered oversold on Fri. and since it is long term-slow moving, won't turn up and give a buy for a few days minimum [probably]. When it does give a buy, it willl be after the actual price bottom price. The bottom in SFE price likely between now and the next 10 days IMO. This opinion based on several factors not strictly technical and would fall into the category of past obversations. FWIW, at the risk of being early, I picked up more SFE right here. Should be good support between here and the 200 day m/a. Fundamentally, I am more impressed with the strategy of SFE all the time, the price just needed to settle down and emotions cool which has happened since FEB. 4, and a 23% decline. Will report when long term stochastic gives a buy. There has been much discussion elsewhere of SFE needing much higher quality coverage and if there was SFE would trade much higher or closer to what some see as the "true value". While there may be merit to that line of reasoning, anyone owning the stock should pay strict attention to what "i s" and not what "should be" in making decisions on what SFE is likely to do short term. I.E. SFE has declined 23% because emotions got to exhuberant for the current state of coverage and fundamentals of SFE. Some may have held in the mid-40s not believing it would go down to here because of a belief the stock should be worth more if only the world would pay better attention. The current reality is different. When ICG comes out, that may change. Have a good week, Mike |
