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SMY - Sally Malay Mining

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BraceFace

BraceFace

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Has the steam completely run out of the Nickel Sector!? Over the last 12 months Nickel companies like Jubilee and Sally Malay have done OK, but it seems that SMY in particular has experienced quite a significant downturn in recent times. Is this a reflection of world Nickel prices or is there something else going on here? At 64c SMY seems like pretty good value to me. Any takers? :)
 
Re: Sally Malay SMY

SMY has surged up 8.5% on a day when the market was down pretty much across the board. Closed at 83c. Is some sort of a breakout forming?
I hope so. I have been sitting on this one very patiently for some time, waiting for a move in the Nickel sector.
No announcements today so perhaps the market is bullish on Nickel?

Maybe someone more clever than I can post a chart/analysis :D
 
Re: Sally Malay SMY

BraceFace said:
SMY has surged up 8.5% on a day when the market was down pretty much across the board. Closed at 83c. Is some sort of a breakout forming?
I hope so. I have been sitting on this one very patiently for some time, waiting for a move in the Nickel sector.
No announcements today so perhaps the market is bullish on Nickel?

Maybe someone more clever than I can post a chart/analysis :D
Click to expand...

Does look good after 90cents $1.05 next barrier, the chart looks interesting when viewed from January 2003 to current as well.
 

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I'm only a novice at this Elliot Wave thing, but it looks to me like it could also be into a new wave one.

Cheers,
GP
 

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GreatPig said:
I'm only a novice at this Elliot Wave thing, but it looks to me like it could also be into a new wave one.

Cheers,
GP
Click to expand...
Thats precisely what I was looking at too.
 
Looks good to me too. According to page 109, one should be long at $0.74

smy.gif


This post may contain advice that has been prepared by Reef Capital Coaching ABN 24 092 309 978 (“RCC”) and is general advice and does not take account of your objectives, financial situation or needs. Before acting on this general advice you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

Past performance is not a reliable indication of future performance. This material has been prepared based on information believed to be accurate at the time of publication. Subsequent changes in circumstances may occur at any time and may impact the accuracy of the information.
 
Nick Radge said:
Looks good to me too. According to page 109, one should be long at $0.74
Click to expand...


Sorry Nick, can you please explain exactly what you mean by this?
 
On page 109 of my book I discuss a trading system that is useful for active investors. That is, it holds poistions for 12 - 24 months and utilises a specific stop point, unlike buy and hold. SMY recently came up as a buy on that system and was recommended by me at $0.73. Others that have come up are listed below. Whilst no trading system will be 100% accurate this will provide a high risk/reward equation for those that do not wish to be bothered looking at prices every day.


model.png
 
Nick Radge said:
That is, it holds poistions for 12 - 24 months and utilises a specific stop point
Click to expand...

Thanks Nick, seems fair enough.
Does this mean your exit point is determined by a predetermined time interval and not the actual share price?
If you have a exit point based on share price (assuming positive price movement) what would it be?
Appreciate the shared knowledge :)
 
The factors to consider in SMY are a huge significant step up in production over the next two years, if all according to their plan happens on time, then the ramp up will occur commence over the next 4 to 6 weeks. SMY has been unfancied for a while now because of the word DEBT. Management intention is reduce this debt to a level of $20mil from $40mil by this financial year end, they have also declared that this will allow a maiden dividend to be paid December 2006 if all works out.
The dumping of their shares by the impatient shareholders Roche and Mineral Securities is now over, with mining there is always a risk factor and Roche and MS it seems were fed up with delays at the Lafranchi operation. SMY has been lagging lately but may suprise very shortly.
 
BraceFace,
The exit point for this particular systematic approach is the old high. However, this is the start of a potential large wave-(3) which, if correct, will take prices well beyond those highs.

Nick
 
Well done to everyone who bought into SMY earlier this year when it was floundering in the 70-80c range.
I'm pleased to say I hung in there and have recently sold out after some very positive news last week.
Now sitting above $1.10.

This one always seems to pull back in weeks/months after positive news.
Keep and eye on it and buy back in sub $1.00 I reckon.

:D :D :D
 
BraceFace said:
Well done to everyone who bought into SMY earlier this year when it was floundering in the 70-80c range.
I'm pleased to say I hung in there and have recently sold out after some very positive news last week.
Now sitting above $1.10.

This one always seems to pull back in weeks/months after positive news.
Keep and eye on it and buy back in sub $1.00 I reckon.

:D :D :D
Click to expand...
Brace I've had these for some years, around .54, not many but am happy. I know I should have traded but with this i have been lazy. Might sell when it goes to 1.50$
 
crackaton said:
Brace I've had these for some years, around .54, not many but am happy. I know I should have traded but with this i have been lazy. Might sell when it goes to 1.50$
Click to expand...
You might not sell when you see the company dividend policy, plus its capacity to pay dividends based on its outperformance against pro-forma.
This is a $2 stock in waiting, and will only fall short if the @rse falls out of world markets.
SMY's best results are yet to come as it has not reached full production, plus its copper/cobalt byproduct sales are now significant earners in their own rights.
 
BraceFace said:
Well done to everyone who bought into SMY earlier this year when it was floundering in the 70-80c range.
I'm pleased to say I hung in there and have recently sold out after some very positive news last week.
Now sitting above $1.10.

This one always seems to pull back in weeks/months after positive news.
Keep and eye on it and buy back in sub $1.00 I reckon.

:D :D :D
Click to expand...
Oh why, I guess we all like to take a profit and there is nothing wrong with that
but I know where my stop is. I am prepared to give SMY a few more months possibly yet.
 
brerwallabi said:
Oh why, I guess we all like to take a profit and there is nothing wrong with that
but I know where my stop is. I am prepared to give SMY a few more months possibly yet.
Click to expand...

You are right BW, there is more potential upside in this one.
I needed to take a profit, but I fully expect to buy back in at some stage.
I have my eyes on other companies at the moment and I am please to take the money and run.
 
Last week we reached a new alltime high are we are going on. Next target is 1,80 $. The profit is high and there ´s no better chance for nickel fans. If you search for a top gold stock, take Barbara Mining.
 
We exited 1/2 at $1.14 as per the plan. The remaining balance is left to run with the current trailing stop at $1.11.
 
Unfortunately I exited a while ago as part of my selling down before going on holiday, and haven't bought back in.

Still I can't complain, as what I kept and have bought since returning is going okay too.

Cheers,
GP
 
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