BMX - BeMax Resources

brerwallabi · 2 December 2006

Rich
I had never heard of BMX till you brought it my attention many moons ago.
It has since then delivered a few profits.
BMX has always featured in some of my watchlists so the last week has been interesting with the 20ema pointing north along with the bottoming of the 60ema with indication of upwards movement there.
Volume has also picked up, the challenge will be to break through 30/31cps.
So an entry at 28cps and a stop at 26cps is in play with the expectation of reaching this years previous high of mid 40's in the seasonal resource run is in play.
Hope it does well for you in the comp.
Brer

It's Snake Pliskin · 2 December 2006

RichKid said:
It appears to have found buyers lower down, interesting to see how this performs if it breaks out of the downtrend strongly, pullbacks are generally safer to buy into in case there's a false break imo. Disclosure: this is my monthly tipping comp pick!

The zone between .30 and .32 will be telling.

chicken · 7 December 2006

brerwallabi said:
Rich
I had never heard of BMX till you brought it my attention many moons ago.
It has since then delivered a few profits.
BMX has always featured in some of my watchlists so the last week has been interesting with the 20ema pointing north along with the bottoming of the 60ema with indication of upwards movement there.
Volume has also picked up, the challenge will be to break through 30/31cps.
So an entry at 28cps and a stop at 26cps is in play with the expectation of reaching this years previous high of mid 40's in the seasonal resource run is in play.
Hope it does well for you in the comp.
Brer

Now READ THIS....their assets in the ground just updated...worth...$16billion in todays market....so asked yourself...is the SP at 28cents..CHEAP..Chicken says it is..so make your research....

noirua · 7 December 2006

chicken said:
Now READ THIS....their assets in the ground just updated...worth...$16billion in todays market....so asked yourself...is the SP at 28cents..CHEAP..Chicken says it is..so make your research....

Going well at 30 cents and maybe the change in Bemax has begun, afterall, the goose that laid the golden egg originally started life as a chicken.

noirua · 7 December 2006

Resources increase at Murray Basin: http://www.asx.com.au/asxpdf/20061207/pdf/31000s7m52x1br.pdf

Stock price at important 30.5 cent point on the 12 month chart and should plough on from here.

It's Snake Pliskin · 8 December 2006

noirua said:
Resources increase at Murray Basin: http://www.asx.com.au/asxpdf/20061207/pdf/31000s7m52x1br.pdf

Stock price at important 30.5 cent point on the 12 month chart and should plough on from here.

She won't be ploughing on until those sellers have sold out.
Look at .30 to .32.

britishcarfreak · 13 December 2006

It's not exactly 'ploughing on' is it?

It's just tracking back to the 80day average.

Are you guys still confident in this? It's an interesting stock but I'm really starting to doubt my choice to go short on this from a few days ago.

Do any of you have a perspective on the increase to the resource base in murray basin? Is this a big deal or a drop in the ocean? It seemed significant to me but I guess increased count of what's in the ground isn't immediately money in the bank is it? Now that I think of it, they announced doubling of reserves at broken hill in OCT which gave a spike but nothing long-term in SP.

Get out or stay in?

Knobby22 · 14 December 2006

Not volatile enough for the traders at present.

We will probably have to wait for the half yearly report before we get eyes up from the institutions.

The story is good.

Dutchy3 · 21 December 2006

MD remains poor for the bulls.

Can't see 26 being breached on the downside from here. A bit of extra leverage available from the CFD providers too...

I'm waiting for a signal though.

RichKid · 22 December 2006

Dutchy3 said:
MD remains poor for the bulls.

Can't see 26 being breached on the downside from here. A bit of extra leverage available from the CFD providers too...

I'm waiting for a signal though.

Nice chart Dutchy3, thanks! Looks like we're in the middle of some sort of basing pattern, might just leave EW aside for a bit now.

The current price action reminds me of the pattern that caught my eye when I first set eyes on BMX during that sweet Spring of our erstwhile relationship....not quite the same now but maybe that old magic will return.....but I should remember never to fall in love with a stock.

It's Snake Pliskin · 22 December 2006

RichKid said:
...not quite the same now but maybe that old magic will return.....but I should remember never to fall in love with a stock.

Just call it "sweety".

...any further move above .30 will most probably bring out the sellers. Exhausting them may take time.

Knobby22 · 24 December 2006

I need to see the next lot of financial figures so that I can make my mind up about this stock. The biggest issue I have with it is the debt. Hopefully the profits will be very encouraging.

The deal BMX has with APG could further add value, so waiting for APG to proceed to full scale model also.

This company could be big, but more information required.

It's Snake Pliskin · 24 December 2006

Knobby22 said:
I need to see the next lot of financial figures so that I can make my mind up about this stock. The biggest issue I have with it is the debt. Hopefully the profits will be very encouraging.

The deal BMX has with APG could further add value, so waiting for APG to proceed to full scale model also.

This company could be big, but more information required.

Knobby,

I don't want to fork your comments here but could represents HOPE based on the scant HOPE that more information will confirm this. Surely there is an easier way to approach this?

By thinking in the "made up my mind" mindset you set yourself up just like a prophet. What is prophesised may never eventuate though the mind will think otherwise.

Merry Xmas

chicken · 24 December 2006

Dutchy3 said:
MD remains poor for the bulls.

Can't see 26 being breached on the downside from here. A bit of extra leverage available from the CFD providers too...

I'm waiting for a signal though.

Dutchy..redraw your bottom line...and it looks as if this stock is just waiting to go....ascending triangle.....and redraw your top line....will give you the understanding I talked about...Merry Xmas to you

It's Snake Pliskin · 24 December 2006

chicken said:
Dutchy..redraw your bottom line...and it looks as if this stock is just waiting to go....ascending triangle.....and redraw your top line....will give you the understanding I talked about...Merry Xmas to you

Yes,.. Chicken.. the solution is subjective trendlines. :jump:

RichKid · 24 December 2006

brerwallabi said:
Rich
I had never heard of BMX till you brought it my attention many moons ago.
It has since then delivered a few profits.
BMX has always featured in some of my watchlists so the last week has been interesting with the 20ema pointing north along with the bottoming of the 60ema with indication of upwards movement there.
Volume has also picked up, the challenge will be to break through 30/31cps.
So an entry at 28cps and a stop at 26cps is in play with the expectation of reaching this years previous high of mid 40's in the seasonal resource run is in play.
Hope it does well for you in the comp.
Brer

Hi Brer

Sorry for the very late reply, meant to respond to this for ages but got sidetracked.

I'm glad you've found it useful as a trading stock. Atm I think we should just watch and wait til it begins to show sings of trending again. Not sure if this even deserves to be my pick for the next comp but we'll see, certainly better stocks out there imho. Since your post things have looked poor.

What we need is a washout of bullish sentiment in the commodity stocks and then we can look for over-sold, quality co's again. Especially liquid small caps that can make it through a reputable fundamentals filter (I like the free reviews that you can get on the web of Aussie juniors from various tipsheets). Currently not trading this strategy (ie consolidating/basing small resources juniors approaching production) but focusing on mid to large cap stocks.

I trust your other resources stock trades are going well Brer. BMX is certainly not a write-off but it's a matter of watching and waiting for the right signals, patience is the key imho. I have enjoyed trading and studying this stock. As you can see from my posts in this thread I have been wrong on BMX many times.

Knobby22 · 25 December 2006

It's Snake Pliskin said:
Knobby,

I don't want to fork your comments here but could represents HOPE based on the scant HOPE that more information will confirm this. Surely there is an easier way to approach this?

By thinking in the "made up my mind" mindset you set yourself up just like a prophet. What is prophesised may never eventuate though the mind will think otherwise.

Merry Xmas

The problem with this stock, Snake, is that we only ever see projections.
I want to see some reality.

Point taken though. I should use a term like " reasonably expect" which is more certain.

$20shoes · 29 December 2006

The MACD sure looks bullish on the BMX chart; looks like she wants to turn back up. Though, as Snake mentioned, there is a lot of overhead resistance through to $0.34. It's going to need some volume to push on past this zone.

The Longterm Guppy Multiple Moving Averages are almost completely compressed at the moment, with short term traders probing for a trend change.

brerwallabi · 29 December 2006

I made an exit last night sold 30000 at 28.5 at close of market (tiny profit), too many sellers pushing this stock back down.
There is far far better value elsewhere.

Now I will wait for a torrent of abuse.

It's Snake Pliskin · 1 January 2007

$20shoes said:
The MACD sure looks bullish on the BMX chart; looks like she wants to turn back up. Though, as Snake mentioned, there is a lot of overhead resistance through to $0.34. It's going to need some volume to push on past this zone.

The Longterm Guppy Multiple Moving Averages are almost completely compressed at the moment, with short term traders probing for a trend change.

$20 haven't you misread the MACD? It doesn't look bullish.

That volume you are talking about may just be on the sellers' side continuing the slide.

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