Australian (ASX) Stock Market Forum

For bottom pickers and knife catchers

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tulasi74 said:
Hey tech/a

I don't see any waves in MRE. I only see a straight down move from $6.06 on 7 May to current price :confused: Can you please elaborate? Maybe on the MRE thread? :)
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Price of Nickel is falling mate.


Put me down as well for CFE

Id like to throw up another one- SBM - if it can hold 30c by the end of this week I think its a good buy (hence a bottom).
I could be wrong but just taking a stab with a falling knife... umm sorry abt the bad joke:D
 
Ill throw CVN into the mix. Although my chart knowledge is limited looks to of formed a double bottom and good support ~ 0.45. Not 100% sure on EW count but could be nearing the end of wave 4? With a possible projection of $1-1.10 towards the end of the year?

Cheers. :)
 
I'll have to nominate TMR today, a real falling knife.

It was down 40% at one stage but is now 'only' down 18%. NTA is about 14c per share, current price 3.5c. Someone knows that things are not right, or it is a huge over-reaction. Just raised 30mill at 11.5c about a month ago... :eek:
 
RDS is another. down 40% on just 3 trades. possible capital raising coming up soon but think the current price is too low. company seems to have a lot of good ground and potential.
 
ans25 said:
Id like to throw up another one- SBM - if it can hold 30c by the end of this week I think its a good buy (hence a bottom).
I could be wrong but just taking a stab with a falling knife... umm sorry abt the bad joke:D
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Now at 26.5c, makes it an even better buy, doesn't it? Have been watching this for some time, but trying to time the entry to perfection, almost impossible I know.
 
prawn_86 said:
I'll have to nominate TMR today, a real falling knife.

It was down 40% at one stage but is now 'only' down 18%. NTA is about 14c per share, current price 3.5c. Someone knows that things are not right, or it is a huge over-reaction. Just raised 30mill at 11.5c about a month ago... :eek:
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And out today above 4c would be a nice profit for a couple of days.

Finally i got a short term trade right :)
 
Just breaking through $35 looks important.

May be a bottom down there.

For now.
 

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AnDy62 said:
Great thread, love it :)

Can I throw Macquarie Leisure Trust, MLE into the ring. Currently $1.515, after hitting highs of $3.89. Nothing has realing changed for this company which has Dreamworld as its main investment as well as bowling centres, marinas and I think moving into gyms. Sold down on its name sharing with Macquarie and worries about the economy/fuel costs dampening Dreamworld activity etc. Overdone? IMO yes.
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Nice little recovery, up to $1.96 atm
 
TPI has recovered to around $7.50. I'm looking to stick with it for the moment with a target of $8.50, but expect this to take some time.

GPT looks to have bottomed and buying last week at around the $1.55 level looks to have some promise.
 
Just a question...can you nominate stocks that you think have bottomed out without stipulating a time limit befor ethey start to move up? Sometimes they can go sideways for months..
 
MDT is up 100% from the time that i said that i thought it had reached the bottom . Any one get on at 22 cents
I am now picking SBM , i think the only way is up as the US dollar rises against the Aussie dollar
 
adluroil said:
MDT is up 100% from the time that i said that i thought it had reached the bottom . Any one get on at 22 cents
I am now picking SBM , i think the only way is up as the US dollar rises against the Aussie dollar
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Why would you think that?

Someone correct me if I'm wrong, but when the U.S dollar strengthens the price of GOLD will fall?

Support for gold at around $810
 
Because the price of Gold hasn't dropped as much in Australian Dollars
They are getting more Au dollars per ounce .The mine is in Australia . Seems the ratio of value of Gold / US dollars / Aussie dollar/ is not constant .
 
Great thread which I have only just found.
Here are a couple of candidates:
IVT - Inventis. Has been as high as 42 cents and is currently around 10 cents. Had a foray into aviation which turned to custard big time. Now shot of it and should be into recovery mode soonish.

THR - Thor Mining. Languishing around 7c at present after being upto 38 - 40 cents. Have 3 new mining leases and Western Desert (WDR) has taken a 16.7% stake. Despite this THR are finding that funding for development is difficult. If they can fix that then who knows - Molybdenum and tungsten prices seem to be doing OK as well.

Agree with QOL.

Cheers and DYOR
 
Bottom Picking:
57 open trades - 23 showing a profit, 32 showing a loss
1 closed trade
Total Open/Closed loss -6.8%

Mine:
13 now closed trades - total closed loss 3.6%
19 open trades - 9 showing a profit, 10 showing a loss - total open profit 4.0%


For comparison, last month's figures:

Bottom Picking:
51 open trades - 24 showing a profit, 27 showing a loss - total open loss -4.1%

Mine:
7 now closed trades - total closed loss 1.6%
19 open trades - 7 showing a profit, 12 showing a loss - total open loss 0.6%
 
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