OEX 0.00% 0.2¢ oilex ltd

there will come a time..

  1. 5,609 Posts.
    the large consistant sellers of the US investment banks may well have stopped in oex. Its allowed the stock to regain some ground for the lows and consolidate.
    It was nearly impossible to get any positve market result regardless of the quality of the announcements while we faced forced selling. The 40c low was due entirely to them selling and the market crashing. oex has been a star performer in comparison with some resource segments,such as nickel and iron ore. It is good to look forward to news since it validates the reasons why some of us invested in the company and provides confidence etc. Simple chart trading relies on certain things being constant and we can see its fundamentally flawed. The only constant at the moment is complete change on a daily basis. I understand charts being slightly useful at times, but the big money is made investing in fundamentally strong well run companies regardless of market sentiment. Ask buffett if you dont believe in the theory. I am sure half the worlds hedge funds would have been very happy not to have ever seen a chart since its probably only contributed to them following major false signals and adding to major losses. The energy space is a constant over the long run and oex is an emerging company in a big space with growing reserves etc. After speding 20 years investing and trading in the stock market, i have never meet a sucessful chartist thats still around or done as well. Most day traders using the system as their main guide would be finding it very hard if they went long the market at any given point recently. good luck anyway. just an observation. good luck
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Mkt cap ! $8.239M
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Buyers (Bids)

No. Vol. Price($)
52 110883271 0.1¢

Sellers (Offers)

Price($) Vol. No.
0.2¢ 73165873 13
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Last trade - 16.12pm 30/10/2020 (20 minute delay) ?
OEX (ASX) Chart
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