RE:CricketsRaeday pray you are well as I wish profits and good health for all of the LONGS and shareholders of SCR...
As you guys know I sold majority of my shares long time ago given the shutdown of sports due to covid19 and drop I thought would happen in markets which apparently with endless helicopter money we will continue the greatest bull market history has ever seen- sad part in the end, our currency and purchasing value may be worthless so the epic runs and paper profits will mean fak all if inflation suddengly goes through the roof or taxes to pay for all this "free money"! - OR AT LEAST THATS MY FEAR and Im a super optimistic person typically... Im just worried "who is going to pay for these deficits the US and Canadian government continue to rank up?" - most dont give a $hit I guess about the life and struggles our future youth and grandchildren will deal with!
Back to Score, sorry for my rant, I am just waiting for a combination of:
- confidence we wont see another shutdown in sports or fall shutdown again in economy over this "plan"demic we are all dealing with
- rumour that Canada is FINALLY going to make a change to legislation to fix criminal code so we can legalize single sports betting (we were told Winter 2021 so I expect Feb/March action to be changed so maybe end of year people will start "buy on rumour sell on news scenerio"
CANADA LAW CHANGE IS OUR BIGGEST FUTURE CATALYST IN MY OPINION AS WE COULD AND SHOULD MORE OR LESS DOUBLE ON THAT LEGISLATION CHANGE AS WE ARE STILL DOMINANT PLAYER IN CANADA!
- rumour or possible chatter that Score going to get bought out; WHICH I SEE ESPN AKA DISNEY OR PENN AS POSSIBLE SUITORS WHEN THE TIME IS RIPE which could be now that at much lower market cap evaluation!
- acknowledgement that the bleeding given our costs and overhead isnt going to weigh down the stock or create greater dilution which given recent news should not be an issue as already factored into the stock price. I am happy with terms of financing Levy did and for most part I feel he has protected long term shareholders from what could have been a much deeper and steeper fall in stock price!
TECHNICALLY SPEAKING I HAVE A TOLD A FEW OF THE BOYS "BUY SIGNAL" ISNT THERE YET.... and those who been buying last few weeks I just feel personally are a little too early for the party, and going to be twiddling their thumbs for a few more months.
We been consolidating in the $0.65 to $0.75 range for months which is a good sign and technically now starting to look oversold here....
BUT Im waiting for a close above $0.70 and I like to see it back above $0.75 which is where the bottom of the uptrend we had held for so long is.... I dont like catching falling knives and prefer to ride coattails of momentum on my back than wind in my face so to speak.
If you look at the 2020 YTD you will see LOWER HIGH in early July spike from that of the early June spike which created a down trend we have not broken last three months, and hence why I am not buying just yet....
Want to see a break above that $0.80 threshold before going OVER WEIGHT in my opinion... with the current next few days potentially being the best opportunity to accumulate in the $0.60-$0.66 range.
Ive said since May / June I feel the best time to start accumulating and going heavy Score will be Late Fall / Early Winter .... this stock will do much better in 2021 I feel than 2020 given the scenerio LEvy and Co. are facing,