Argo Blockchain Share Discussion Threads

[hootza616] 26/11/2020 19:24

Suffer, reading your post 8000 earlier what are the lower downside targets now we are at 16300?

[brasso3] 26/11/2020 18:35

Don't be silly. I top sliced some ARB on Tuesday to buy some PPC. ARB is my biggest holding by far having bought between 4p and 5p.

[piperpeter] 26/11/2020 18:12

Brasso3,

I thought I read that you'd sold ARB and put it into PPC?

Pp.

[brasso3] 26/11/2020 18:00

Dom Naskretski
@Melendhar
·
1h
Bitfarms just announced their Q3 results. Them and @ArgoBlockchain are the only two listed miners with a mcap below 100m. #ARB below 50m actually. Screenshot of Q3 attached. Numbers speak for themselves. #ARB still at a crazy low valuation & in profit every month

[sideshowbull] 26/11/2020 17:28

My call last night - getting good at this voodoo lol

post 7936


Still a massive BTC bull will take a few more at support.



BWTFDIK

[suffersnofools] 26/11/2020 17:24

Well half day market in US tomorrow plus Options expiry.

Reading a few of the online crypto blogs and talkof PayPal issues, a coinbase story in the NY Times on Sunday and Munchin pushing through new KYC legislation before enf of Trumps term.

If this was equities the markets would be shooting up on all that bad news :)

[hootza616] 26/11/2020 17:15

Maybe the sale hasn't started yet?

[sirrux] 26/11/2020 15:36

Bitcoin Thanksgiving sale, is it one day only?

[suffersnofools] 26/11/2020 15:15

The W reversal is in play...........

[suffersnofools] 26/11/2020 14:46

Top to bottom BTC retracement so far has been 15.8%,

If we go to 25-30% correction level target is approx 14800 (a key support) to 13500. I would be a buyer at these levels fwiw.

[yump] 26/11/2020 14:13

Anyway back to ARB.

In very rough terms, I think the last 2 months of this year will generate nearly enough revenue to equal the first half. So perhaps around £20mln for the year and say gross profit of 2.6mln, assuming the same levels of hosting costs and depreciation.

Assuming all the other costs are in proportion, I think that works out at a p/e around 35.

I suppose its stating the obvious but if cost of sales remains the same, then it would just take a 13% rise in revenue to double the gross profit.

That would be treating the whole thing as a production line that just doubled its output with no additional equipment, which is unlikely to be the case. But it does give a feel for the potential.

There's a lot of variables: difficulty, electricity costs, increased competition if market is attractive. Perhaps it will be a cyclical stock in terms of results.

[suffersnofools] 26/11/2020 14:06

That comes next year. Huge bear market for equities and property.

IMHO :)

POSSIBLE W-bottom reversal playing out if this hourly bar holds -

[yump] 26/11/2020 14:03

Oh, yes that's possible. Flatlining all the shares and destroying them as an investment. An unusual sort of Dystopia.

[horneblower] 26/11/2020 13:56

dbk, yump
I fear that publishing will have the reverse effect. If traders know that the programmes users are going to selling the rises and buying the drops, those rises and drops won't happen. The only way is to keep quiet and slice the market quietly.

[yump] 26/11/2020 13:55

Suffersnofools

I believe you. Thanks for the links. I don’t trade (much), so have the luxury of time to figure out buy/sell periods - which frequently seem to be psychologically driven, unless the business has a sudden change for the better or worse.

As the charts represent the behaviour of people, how do they modify over the years ? Or are we all so predictable (no real freewill etc). Perhaps not a discussion for here though !

[brasso3] 26/11/2020 13:48

I cannot believe BTC is not back to the lows not seen since the 17th Nov 2020! (Sarcasm alert).

ARB go back into HODL mode. :)

[dennisbergkamp] 26/11/2020 13:26

hb, yump is spot on! Publish and the rises will be higher and falls lower, which will make you more which ever direction your/its moving you in

D

[suffersnofools] 26/11/2020 13:25

Thought my ears were burning :)

This is what I'm looking at. You can see why 17400 is now tough resistance as it's the daily trendline (green diagonal) that until broken today, has supported the entire rise from the 10K level. It's also an historical horizontal level (cyan) and the first fib of the whole corrective move! However, this is a bullish market with buyers waiting, so once above I'd expect traders to move in giving a quick move back to the .618 fib @18425. Minor resistance @18600.

If it can't regain 17400 its back to 16800 then we start looking at lower downside targets.



Yump - I know what you're trying to say but It's simply not the case. I've spent years writing algos that run 100% automated on trading platforms following simple rules. That way you remove the biggest failing of trading manually - emotion.

Charts are maths, maths underlies the entire the universe. Which is a simulation in my opinion, but I digress - lol.

There's a brilliant book by Max Tegmark that covers the topic way better than I ever could.

[hootza616] 26/11/2020 13:16

Seems to me like the holders here are considering the business fundamentals rather than just the BTC price. Otherwise everyone would have dumped just like Topaz did last week.

[yump] 26/11/2020 12:46

Ha ! Best keep it a secret if it works.

Or on the other hand, which would be a bit slippery, you could release the rules. Then you would know people would follow them, giving you an edge.

[horneblower] 26/11/2020 12:42

I see your point, yump.
Although SNF gets all his information from the chart, I think you're saying that his experience and judgement are being used in a way that supercedes the chart and that he would be hard-pressed to write a computer programme to emulate his trading methods.
I think (and hope) you are wrong about this as I'm writing a programme of my own to do just that.
If you don't hear from me I'll have succeeded!

[yump] 26/11/2020 12:32

Anyway, with ARB, in theory, if BTC stays doubled, then all other things being equal, ARB profits should more than double, compared to what they were post halving, earlier in the year. Way more.

Can't tell easily yet because its not that apparent how costs have changed, although the bulk were incurred first part of the year.

[yump] 26/11/2020 12:26

suffersnofools has not had a lucky call and I have not said or implied that.

Whatever he is using, he is skilled at it, but I think the skill part is the bit you can't define with charts, enough for others to be able to use it reliably.

Just like other investors. Learning the right things from experience and knowing what to look for gives you an edge. Some investors have it, some don't.