DonBboy

Salmar [SALM] Still consolidating

Long
DonBboy Pro Updated   
OSL:SALM   SALMAR ASA
Salmar - Which is a Norwegian salmon company, has been consolidating in a roughly 15% price range the last weeks.
Personally have I caught all but one of the ranges, and now it's back at the bottom so I thought I'd share it with you all.

Price has been going back and forth from NOK - NOK for a good while now,
And considering the world-wide population growth, and the world-wide love for Norwegian salmon (wink wink) I don't see any reason
why they should fare worse in the near future.

Currently long @ looking to sell @- unless some unforseen news arrive.
Comment:
for some reason the prices written has not come up.
Bought 50% @ 396 and 50% @ 392
looking to take profits between 430-450
Comment:
price sitting around 412 NOK currently, which means we're currently 4.8% in profit on this trade.
Trade closed: target reached:
Been sick since before christmas but closed the position out on roughly 440NOK/share, I am quite happy with this trade

CLOSED
Comment:
We still have a bullish bias for SALM, but Norway is talking about introducing a tax for the fish-farming industry, large institutions in Norway are suggesting price will drop as low as 330NOK/share if this happens. With that said we do not suggest anyone take advise even from us let alone institutions, it's important you do your own analysis, but at this point we will stay out of SALM as we see it as roughly a 50/50 chance that this tax is going to be implemented and we are not sure what the negative impact might be if this happens.
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