GKP

I am another refugee from Jackozy's board. Know very little at all about TA but was picking up a bit from my underwater GKP cave the past few months. I always enjoyed and appreciated the civilized tone there which seems to be here too. So hope to divorce myself from the emotions and learn from you all.

Hi Eddie,
Glad to see you found your way here too.
Could be interesting week ahead. Suspect some usual end of tax year turbulence due to bed + Isa'ing end of week beginning of next week. Maybe possible RNS announcing debt financing news? (could be good or bad for SP depending on the % terms arranged). I've sold a few in my investment account and placed a few buy orders at lower SP just above resistance levels in case it drops further during this week, but I'll be monitoring the action when I can just in case of positive news ready to jump back in.

Hello Jacko, hope you are well.. looks like higher low didnt get put in few days back. is your read still 87p as a low and then uptrend ? or is it going much lower - 50p area ? thanks a lot.

GKP has been shambolic. what a value destruction over last 3 years. Almost criminal fraud and negligence i would say to have withheld the SH6 results ..

I sold GKP 50% at 120p when the RNS on 13 March, the bare confess "Update" the reserve figure and other import aspects. I sold another 50% at 111p on 19 March, RNS about a debt bond offering. I felt totally loss and sad. But I sold them all. Today sp = 86p close. If I sold today I would have another 25% loss.

I remember AST downtrend. I sold at 5p, but now it is less than 1p. I sold RRL at 5p, now it is less that 1p, 0.73p. sp of companies of Oil exploration and developing as production are vy like going down in such terrible down turn way. GKP sp kept for quite long time above 160p due to the speculation of potential TO or the myth element of TO. Now it seems to me unlikely. I know if I don't sell, 120p, 110p would not available anymore.

However, I still have no bottle to short it. sp = 87p or below sounds incredible low. Whether it goes down more? May be, but I have not bottle to put money on bet.

Here's a rarely posted monthly view of GKP:



dl.dropboxusercontent.com/u/20815047/FTS...Pmonthly31_03_14.png

See the power of a main uptrend support break?

87p has failed to hold so we're looking at the 64p area as next up support. Failing that there's a gap at 52.75p and another at 13p though this last one was more than likely a game-changing breakaway gap from the initial discovery.

IIRC, early on on the halcyon days of GKP Mr Kozel said it would be important to manage PI expectations with respect to share price performance. I'm not sure this is what he had in mind...

Also, please bear in mind that these supports that have failed are now resistances so barring a major news event (T/O) there are some strong ceilings above the current sp, most notably the 141p area which has been pivotal throughout and was also the area of the high volume gap down recently.