FML - Focus Minerals

[MS+Tradesim]

anyone know whats going on with FML

its been creeping up slowly the last 2 days

almost back to where i originally bought it at

The same thing is happening with all my speccies. Think it might be just across the board relief buying....08 over, new year starting, optimism etc etc.
Many shares were oversold but the worst of the global economics has not even hit yet so I don't know how long this buying will last.

 

[sagitar]

Hi all,
Anyone following this one? FML is forming a nice formation - development of a symmetrical triangle. If/when it breaks up, I see a short term target of 4.6c.

Note, there's a history of exceptionally large volume in this stock so certainly plenty of liquidity.

Good luck & maybe see ya's at the top...
Sagitar

 

[fureien]

ive been watching this all day.
there were about 43 buyers stacked against 5 sellers at 0.025 and 0.026 respectively

the volume was18 million against 1.8 million
10 minutes before close sellers drop down below 500k and 2 sellers. when they finally disappear
i was ready to buy. and then BOOM
some big player puts a sell order of 4.8 million (a third of the entire days volume)...

*creeps back into his 0.025 position lol*

 

[fureien]

is anyone else holding this besides me?
is this stock not moving or is it not moving

theres so many buyers stacks against sellers and i keep seeing one seller being replaced by a new seller the moment the price moves up a bit.
ive been seeing that alot lately
its like people dont want their stock prices to move up.

is there any company price senstive news we can expect soon to give this sp a little kick in the bum

 

[choochoo35]

Yes... a bit of patience is required. If you want volatility get some FMG. I think FML is a good spec. stock but best chance of a decent rise in sp is still months off.

Good Luck all

 

[sagitar]

Might be worth keeping a watch on the pog. Any significant movement there would surely affect fml's share price. Spot gold's unexpected drop yesterday is showing signs of recovery. Question is whether it will be sustained.

 

[fureien]

Yes... a bit of patience is required. If you want volatility get some FMG. I think FML is a good spec. stock but best chance of a decent rise in sp is still months off.

Good Luck all

ugh fmg, not going down that road again. i bought in the day before the whole andrew forest vs asic thing went down. didnt look too good for my portfolio

but yes sagitar i will keep and eye out on the POG i forgot tahts something else that affects the share price.

 

[choochoo35]

Don't disagree totally with any of that but, IMO, FML will not see any significant sp rise until they are mining, processing and selling alot more gold - IE end of '09. POG movements have had some but not alot of impact on FML sp.

BTW, Fureien, I hope you held on to FMG until the Shanghai listing rumours. If so, even if you bought just prior to ASIC Vs FMG/Twiggy announcement you wouldn't have lost $$$ .

 

[choochoo35]

Nice move this morning and lots of buyers. Everyone talking about FML testing 3c this morning but I'm still not convinced... Hope I'm wrong

 

[fureien]

Nice move this morning and lots of buyers. Everyone talking about FML testing 3c this morning but I'm still not convinced... Hope I'm wrong

yep nice movements today. i hope it holds at 2.7 cents as support. i dont want to see it dip to 2.5 again

and i sold fmg immediately. the shanghai thing was a long time after. during that time i already made back my losses with other stocks like aoe and lyc etc

but lesson learnt being that patience pays off...most of the time

 

[choochoo35]

Vale just announced they will pull out of Heron Kal Nickel project. Not sure how (if any) much this will impact on FML share price, as FML Nickel hardly advanced. But can't hurt...

 

[choochoo35]

Volume starting to shrink now so if the upside breakout is going to happen, you would think it would be in the next few days. Interesting to see if chartists are on the money with this one. Symmetrical Triangle technically broken today with close at 2.8c. Is Wednesday the breakout day?

Good Luck.

 

[fureien]

nope apparently not. so far day high of 0.029 currenlty 0.027 mite hit 2.8 cents but w're gunna see another stalemate between byers and sellers again


looks like the market does not give a rats hindquarter about the milestone announcement lol

 

[fureien]

hey i just listened to the ceo address for FML
http://www.brr.com.au/event/57821/fml-amec-2009-national-mining-congress-mr-campbell-baird-ceo
id reccommend a listen to it to know more about the company.

from what i understand in the next 2 weeks theyre going to start drilling again so we might see some announcement and Sp rise. that may trigger a breakout.

however the real news is that theyve got future contracts that allow them to sell at $1000AUD per ounce or something (i forgot the quanityt) but thats a really good price. and theyre going to do it every qaurter. by year end we should see some real action.
i cant summarise everything (cause i cant remember everything he said) but basically FML is looking REALLLLLLL good long term.

cash in the bank
debt low and being paid off
great assets
drilling soon
huge prospects for the future


im gunna wait for the breakout and depending on the volume mite sell to dodge the day traders, but definitely going to get back in for the long term.

 

[choochoo35]

I don't know if i was half-convinced by all the talk of a break-out in the last few weeks... but I'm falling back into more conservative thoughts. I don't discount a break above 3c in the next few weeks but even if it does I think I'll hold at least until after 3MH is recommissioned. Everything appears to say buy but the market ain't buyin' - not above the magic mark anyway. Unless we see a re-rating or above average results from further exploration I think it will hang under 3c. And if I'm wrong I'll smile anyway.

 

[fureien]

one thing for sure is that i dont think the stock will drop because the market sees potential in FML.
just like you say the market aint buying it up over the magic mark. so i guess it will take some big announcement to push it. Im hoping start of drilling will be enough. it all depends on the mood though. last month everyone was excited and buying up stocks like crazy at every tiny insiginicant announcement. this month had a bad start, so hoping for a good recovery in june which will drive this baby up!

 

[drewy22]

anyone else watching fml this morning. Up to .03 with huge volumes and alot of buyers stacked up against sellers.

 

[MS+Tradesim]

I've been keeping a close eye on FML and their activities for awhile. Today's action is about the same as the last 5 times it's traded at the 3c level. But the lows are getting higher and it might have a nice run when it finally breaks....but judging by the current games at 0.029 that probably won't be today.

 

[bowman]

Funny how some stocks become 'trader' stocks for a while.

I have a love/hate relationship with these and FML is at the top of my list.

 

[MS+Tradesim]

That's more like it. Maybe it will break up today. Nice chunky buy to take out the line at 3c and flip it up.