ADX - Audax Resources

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Didnt take much for ChrisFooty's targets to be met, hope youre satisfied with your profits, i wouldnt be :)

Underwriter has finished selling, selling pressure has been soaked up with no detriment to the share price. Ready to run.
 
ChuckNorris said:
24.5 today. 4.5 in one day! Have they struck anything James?
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No not yet, the rig is on its way.

During the rights issue, an underwriter bought the remaining shares which werent taken up by shareholders at 15c.. it was around 20 million shares, and the underwriter just finished selling their holdings, which were all soaked up by buyers. Now that the selling pressure has ceased, we should see some nice gains into drilling.
 

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A slightly greater than 50% chance of finding oil, adding up all their potential drills coming in the near future.

Therefore about a 50% chance of going $1+ imo

However, market forces will have some say on the short term future
 
Consolidation time.

Drilling will begin in a few days.

Next run will break through 30c.

I am selling 50% of my holdings at 30c.. i need a new car :D, i think i first entered at 3.2c if my memory serves me correctly, it's been alot of fun. Well done to everyone that showed some faith.

My advice in this market is not to be greedy, be happy with profits, and take calculated risks.
 
ADX starting to stall. Buyers for this stock are starting to dry up. It will not reach 30 cents unless drilling confirms commercial oil flows. I think the pre-hype drilling has been fully priced in. Good luck all holders.
 
ChrisFooty said:
ADX starting to stall. Buyers for this stock are starting to dry up. It will not reach 30 cents unless drilling confirms commercial oil flows. I think the pre-hype drilling has been fully priced in. Good luck all holders.
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Every post of yours is rather depressing to read.

Did you follow your plan of selling at 20c, despite it reaching 26.5c?

It reached the technical level of 26ish right on cue, consolidation at the moment.. oil explorers traditionally see selling pressure right before drilling date.

Drilling will begin this week, if it breaks through 26.5 then we shall see 30c.
 
I sure did James. ADX bombed today, it fell as low as 17.5 cents. A director sold a large portion of shares. It looks like I got out at a good time and made a nice tidy profit. I'm in 100% cash.

There was money to be made out of ADX. However, future growth of the company is 100% dependent on finding not just oil and gas, but a viable commercial amount of oil and gas. It could still do this and I hope it does, but im happy to get out hence ADX is drilling. I'm satisfied with my return.

Once it's proven Lambouka is a duster, there will be a mad rush to sell your shares and a massive hit to share price. Do not leave your run too late.
 
I sold the vast majority of my holdings at 20c. Unfortunately i needed the funds for a new car, this sell off seemed to be initiated from Directors selling small percentages of their shares. 3 separate targets for this well, with huge potential. High risk, high reward. The safer bet is Chorbane later on in this year October / November. Im confident we will get a hit somewhere along the line, however im not keen on having exposure in the market come September / October / November.
 
James, It sounds like you have sold out at the correct time. That new car might be your blessing. It fell to 16 cents and not looking good. Are you planning to re-enter ADX if Lambouka is a duster and they then make their assault on Chorbane? I might consider re-entry if it falls to 8 cents range.
 
ChrisFooty said:
James, It sounds like you have sold out at the correct time. That new car might be your blessing. It fell to 16 cents and not looking good. Are you planning to re-enter ADX if Lambouka is a duster and they then make their assault on Chorbane? I might consider re-entry if it falls to 8 cents range.
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It would appear that way at the moment!

If lambouka is a duster, re-entering for Chorbane is a strong possibility at around 10c. However, i don't like where the market is heading in September / October. If the market makes it through September / October unscathed, then i will definetely jump on board, as i feel Chorbane will be the winner. However i dont think that will be the case.

Shorting leveraged CFD's is my game to play during these months, i will be taking a big risk.
 
Looks to be breaking back up again, first time i've seen more sellers than buyers in a long time. a few days of this with higher volume could suggest some successful results and insider trading
 

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Down 25% today. It was even more at one stage. Although they have only reached their first target in Lambouka, it's a very small percentage of success in the other two drill points. This could drop well below 10 cents. It was very unusual for the director to sell a large portion of shares during the beginning of the drill. It did not provide me with much confidence. That was my cue to sell out 100%.

Good luck holders for the rest of the drill and Chorbane drill.
 
James23 said:
I sold the vast majority of my holdings at 20c. Unfortunately i needed the funds for a new car, this sell off seemed to be initiated from Directors selling small percentages of their shares. 3 separate targets for this well, with huge potential. High risk, high reward. The safer bet is Chorbane later on in this year October / November. Im confident we will get a hit somewhere along the line, however im not keen on having exposure in the market come September / October / November.
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Some of my trader mates are talking down these months as well. What do you expect to happen at this time if you dont mind me asking?
 
Mister Dog said:
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Some of my trader mates are talking down these months as well. What do you expect to happen at this time if you dont mind me asking?
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Sorry mate havnt looked in here for a while. Im not certain what will happen, perhaps another large bank to fail?

Keep an eye on events coming out of the US during the week beginning September 19
 
Starting to push out some nice announcements and build some volume!
 
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