RE:RE:Q 3 Release infoSometimes I just hate being right.
BudFoxx2020 wrote: SCR is running into earnings and in the wrong direction, which obviously means earnings will not be good. With no news, SCR will keep moving lower. I can't see SCR putting out any news atleast till after the earnings. If no news, I can see the gap being closed at $18 - $20. Gaps tends to close majority of the time.
Once again don't read ahead if you only got your rosy glasses on. This is why you don't trade or invest with emotion. Always look at what is in front of you and adjust your investment strategies accordingly. The earnings were pretty bad, missed big on everything. Which I expected and have been harping about since C-218 passed. I was expecting a solid plan or guidance from Levy but instead we are told ScoreBet will be expecting to launch in December. That is not what I was expecting at all. ScoreBets is where the biggest potentials are. This is not good because there will be two more quarterlys in between now and December, and Q4 are the worst and slowest in terms of gambling and sports.
Going forward and factoring in the Q3, SCR will need a partnership or a deal with the province, government or a big company or a big private invesment to turn the trend around. With ScoreBet not launching till December, I just don't see any upside at the moment until they announce something big. I honestly don't know where the bottom is, it is very possible we will hit a new low of $16. Next big support is $18. I just call it as I see it, I dont' tell people to buy or sell, just try to provide information and hope some of you find it useful and invest and trade accordingly. Once again, this is just what I am seeing now, my view can change just as quick if a new catalyst arise. All the best everyone.