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AGM - Allegiance Mining

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She will be right chicken, I don't think Jinchuan would have a finger in AGM'S pie if they were not worth it.
With all the production for high grade stainless around the world in the future, demand for Ni will be there for a while.
China did at one stage use a lower grade stainless steel and it bit them on the backside as it lasts as long as mild steel.
 

I cannot see how a big buyer could possibly be accused of manipulating the sp in recent times when all it has been doing is heading south. The reasons for the sp drop are (i) Decline in Ni price, (ii) Reduced Broker Valuation ($0.60) and (iii) Production delays..... resulting in sellers outweighing buyers for the time being. I for one will buy back in low 60's and would be prepared to guess from the charts that this will be where the sp bottoms.
 

excuse my ignorance, but what are the signs showing a big buyer is manipulating the stock? what do i look for in particular?
i take it they are selling it down strategically?
cheers
 
shag said:
excuse my ignorance, but what are the signs showing a big buyer is manipulating the stock? what do i look for in particular?
i take it they are selling it down strategically?
cheers
Click to expand...
Shag, comments regarding stock manipulation should be taken with a grain of salt. They are usually used to explain away the drop in an sp by punters particularly bullish on a stock. I'm yet to see a really convincing case of a stock being 'capped' or manipulated down for whatever reason. Others will have a different opinion, but might need to provide a live example as evidence.
 
shag said:
excuse my ignorance, but what are the signs showing a big buyer is manipulating the stock? what do i look for in particular?
i take it they are selling it down strategically?
cheers
Click to expand...

See at the start of trading..usually there is one LARGE sell 100k plus at lower prices than being presently paid...either a large trader or broker....who may be in the process in buying at lower prices...to manipulate the SP of any stock is very simple...you sell large parcells of stock on the sell side to reduce price and buy back lower on the buy price....its done everyday in stocks...and one who has the $$$ is in the position to dictate prices....so whats new...the only thing I hope the TSX listing in Canada will go ahead as soon as possible as it would do wonders for this stock...anyone in this stock under 80cents will find when production starts which is not years away but months will do very niecly here...see latest pictures of the company published yesterday....Kennan did you check what you said about MGX.....???
 
shag said:
excuse my ignorance, but what are the signs showing a big buyer is manipulating the stock? what do i look for in particular?
i take it they are selling it down strategically?
cheers
Click to expand...

I believe most of the claims of manipulation are "over the top" but it does happen, Today before opening there were buy orders for PRE at an increase on yesterdays price and sell orders to match. Just before the trading commenced the whole set up changed and trading commenced at reduced prices. A couple of weeks ago the same thing happened with AGM. There were 2 buy orders for 500000 each withdrawn seconds before trading. ???

( Refer my post 733.)
 
Looks like as quick as it went down...its going up the same way...buyers lining up again...
 
Not too late to enter . It looks like it just broke out from its downtrend. Dunno to be or not to be that is the question.......
 
chicken said:
Looks like as quick as it went down...its going up the same way...buyers lining up again...
Click to expand...

Now, did I say that....??????? 80c plus next week...PON rising again....maybe I win this competition jet......see www.kitcometals.com read the latest on stainless steel news...explains it all.......what a market
 
chicken said:
Now, did I say that....??????? 80c plus next week...PON rising again....maybe I win this competition jet......see www.kitcometals.com read the latest on stainless steel news...explains it all.......what a market
Click to expand...
At last a price forecast I might agree with because materials and commods continue to fly and Ni has actually gone up a few ticks overnight. Plus, Friday's chart is pretty bullish for a turnaround. And the stock is already sitting on 80 so it won't take much to push over. Well done Chicken. On the other hand DOW off a pile, so general sentiment might be cause for pause.

Chart is definately looking like a bottom IMO, even though I have seen too many bearish comments on Ni supply/demand funnymentals. The gap up over resistance, should now be support, with forward resistance at 82.5 ish a small hurdle.
 

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kennas said:
Chart is definately looking like a bottom IMO, even though I have seen too many bearish comments on Ni supply/demand funnymentals. The gap up over resistance, should now be support, with forward resistance at 82.5 ish a small hurdle.
Click to expand...

Hi Kennas.
I agree and think the bottom is in with this one.
Decreased volumes as she bounced off 70. Higher volumes on the updays.

Breakaway gap up at yesterdays open and managed still a white candle on volume, ran all day.

Looks good to me.
And the fact that theres too many bearish comments on Ni fundamnetals -- I would take that as a bullish sign!
 

hi guys, do you prefer options or cfd's for trading? i looked for warrants on allegiance, sadly none. i wouldn't mind taking a leveraged punt on it going north above my ordinary agm holding.
cheers shag.
 
chicken said:
Now, did I say that....??????? 80c plus next week...PON rising again....maybe I win this competition jet......see www.kitcometals.com read the latest on stainless steel news...explains it all.......what a market
Click to expand...

Thanks Chicken...(from the stainless steel news at kitco)..perhaps worth reading for those who haven't done so.

"And last Friday, China press reported that demand was so slow that pig nickel producers were shutting down production. Typically, this type of news would be classified very bearish, but many decided the true reason they were shutting down, was the price of nickel had fallen to a level they could no longer economically produce. We feel the news that really rattled the market came on Wednesday. It told us that even with all this mysterious pig nickel production going on in China, the nickel market remained in deficit during the first five months of the year, according to a report by WBMS. This was news that those who felt nickel had fallen too far were waiting to hear. And for the third solid day, nickel prices increased. Two things to watch for now. First, if their are buyers for nickel that have been waiting to buy, we should see them make their move soon. Cancelled warrants did increase by a percent yesterday, but we will need to see this number rise much higher before we can say this is happening with any certainty. And second, will the pig nickel producers fire back up? If not, and demand stays low, then demand, and not the price has been guiding their recent slowdown. If they do fire back up, with demand staying what it is, then we can peg the $14 - $15/lb range as their break even point, which would be much higher than previously thought. Interesting days ahead"

Keep the eyes open for the signals....seems unlikely that prices will fall beyond what we have seen...
 
Someone enquiring about leverage on AGM, CMC has CFDs on AGM, I have 2 open positions at the moment with them . porkpie
 
Chicken?... Where are you when we need some moral support?
I'm back to even stevens now on AGM and still wondering why the heck I didn't sell at $1.10
 
Morgan said:
Chicken?... Where are you when we need some moral support? :
Click to expand...

Seems he is lost in the wilderness. He hasn't had a post for two weeks now. Maybe he is in Tassie trying to speed things along. My buy at 93c and my average at 67c look a bit sick at the moment. But why worry, each day is one closer to production and a good SP.
 
Hi Guy's

I sold AGM this week after holding the stock for just under a year. I sold at a profit of 35% but was at one stage looking at 150%. Although I made on this stock it broke my heart to sell, I really had high hopes for AGM and still do but you just can't ignore the current nickel price and trend it has taken. Charts were tell a story at 90c but I held on with hope, I will look at AGM again when things improve, it will probably rocket on Monday...LOL, but still you guy's who are holding best of luck and best wishes.

Pennystock
 
I closed both my positions with AGM one last week for a small gain, the other this week for a loss (my first with AGM).
Its not just AGM weakness its all nickel sector stocks. There's been some excellent quarterly reports but with this present nickel weakness it does'nt mean a thing, any further nickel price falls will just mean more of the same.
So just wait it out then buy back in it will come right. porkpie
 

I believe Chicken is in Singapore this week on vacation. He'll be back soon enough and hopefully bring back some badly needed luck with him

Don't worry too much about AGM's sp. She'll be right in a month or so when common sense returns to the market. The current PON will put an end to many pig nickel producers, so Ni will recover soon enough.
 
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