MGX - Mount Gibson Iron

[johnno261]

Re: MGX

Or Sum Hung Hai out of Hong Kong raising their stake.

Nah oneg hung low

 

[Lucstar]

Re: MGX

Just out of curiousity,
On comsec's market depth for MGX, it shows the U bid as "26,475/u"
What does the 26,475 represent?

 

[el_ninj0]

Re: MGX

Just out of curiousity,
On comsec's market depth for MGX, it shows the U bid as "26,475/u"
What does the 26,475 represent?

The 26,475 represents the ammount that is specified at 80cents per share, that isn't in the undisclosed(/u) ammount.

 

[Lucstar]

Re: MGX

Oh so for example, if i was to put a buy order at 80cents. Then my quantity would join the 26,475 quantity rite? The U bid is kept separate? Is that what it is?

 

[el_ninj0]

Re: MGX

Oh so for example, if i was to put a buy order at 80cents. Then my quantity would join the 26,475 quantity rite? The U bid is kept separate? Is that what it is?

Correct.

 

[Lucstar]

Re: MGX

Hmm...the U bid has been pulled.
What does this mean?

 

[Kauri]

Re: MGX

Maybe it's been filled.

 

[chicken]

Re: MGX

Maybe it's been filled.

Looks as if someone is buying..sp fell but back to 80 cents...all in small parcels...its being worked by someone hard

 

[chicken]

Re: MGX

Looks as if someone is buying..sp fell but back to 80 cents...all in small parcels...its being worked by someone hard

we are having pure manipulation here someone does not want the stock to rise......MGX is a company which is now making a good profit and they have a 1 billion tones of Iron ore...this one read what MGX say about their forecasts etc.....some one is trying to buy shares as cheap as possible....taking a position...watch the SP in DECEMBER.......MGX is the 4th largest supplier of Iron Ore from Australia

 

[chicken]

Re: MGX

we are having pure manipulation here someone does not want the stock to rise......MGX is a company which is now making a good profit and they have a 1 billion tones of Iron ore...this one read what MGX say about their forecasts etc.....some one is trying to buy shares as cheap as possible....taking a position...watch the SP in DECEMBER.......MGX is the 4th largest supplier of Iron Ore from Australia

Airview just had a article saying 2006 Steel market likely better than 2005 MERRIL says...the one manipulating..is doing it in stages...few sellers.....been going on for the last 6 weeks....very clever the way it is done ....

 

[Kauri]

Re: MGX

we are having pure manipulation here someone does not want the stock to rise......MGX is a company which is now making a good profit and they have a 1 billion tones of Iron ore...this one read what MGX say about their forecasts etc.....some one is trying to buy shares as cheap as possible....taking a position...watch the SP in DECEMBER.......MGX is the 4th largest supplier of Iron Ore from Australia

Chicken....Ypu can put me down as one in on the manipulation conspiracy. Have sold out at .79c as for whatever reason there is no longer the momentum I need to remain in. I will be watching her though for a possible re-entry if conditions change.. Best of luck with yours.

 

[chicken]

Re: MGX

Chicken....Ypu can put me down as one in on the manipulation conspiracy. Have sold out at .79c as for whatever reason there is no longer the momentum I need to remain in. I will be watching her though for a possible re-entry if conditions change.. Best of luck with yours.

Whatever you say...there is one buyer who is snapping away any shares at your price...same thing happened in ZFX....I hold as I am NOT a day trader....and my research says that the company is more than sound and so why sell as this company has some great announcements in the pipeline for December....its now the 4th largest Iron Ore producer...with over 1 billion tones of ore to export ..very profitable with great cash flow and their partner is Chinas 4th largest Iron producer...at this price its a definit hold.....So..some one can see what I can see.....a great profitable iron ore minig company.......with a cheap entry.....

 

[Kauri]

Re: MGX

Chicken...I agree with you.. if I held MGX in my long term portfolio ( which I dont ) then I would still be in, but in my short and medium term holdings I need movement, either up or down, to justify staying in, otherwise I am tying up my trading capital when it could be better used on stocks with current momentum. Just the way I trade.

 

[johnno261]

Re: MGX

Chicken...I agree with you.. if I held MGX in my long term portfolio ( which I dont ) then I would still be in, but in my short and medium term holdings I need movement, either up or down, to justify staying in, otherwise I am tying up my trading capital when it could be better used on stocks with current momentum. Just the way I trade.

You will be sorry Kauri.I am a short term trader and movement will occur once this manipulation ceases! You will be sorry for selling.

 

[Kauri]

Re: MGX

You will be sorry Kauri.I am a short term trader and movement will occur once this manipulation ceases! You will be sorry for selling.

Yes johno I probably will be...I have looked back at some of my exits with the benefit of hindsight more than once and been sorry :swear: ...... however after the current conslidation (manipulation or whatever ) , if the momentum returns then so shall I. Until then I will be following what I identify as moving stocks. Its just the way I trade.

 

[johnno261]

Re: MGX

Yes johno I probably will be...I have looked back at some of my exits with the benefit of hindsight more than once and been sorry :swear: ...... however after the current conslidation (manipulation or whatever ) , if the momentum returns then so shall I. Until then I will be following what I identify as moving stocks. Its just the way I trade.

By no means did I mean to rub it in, but i have experience of a fair bit of a trading behind me, and I know that when a company has such sound fundementals behind it such as MGX, you dont sell.It is my humble opinion and I do speak from experience as I have done the same as you before!!!!All a learning process!!!!

 

[Kauri]

Re: MGX

You will be sorry Kauri.I am a short term trader and movement will occur once this manipulation ceases! You will be sorry for selling.

johno.... I hope you dont mind my asking but as a short term trader what was your entry signal on MGX and where do you have your stop set? Thanks

 

[johnno261]

Re: MGX

johno.... I hope you dont mind my asking but as a short term trader what was your entry signal on MGX and where do you have your stop set? Thanks

I will be honest with you. Purchased 330,000 @ 61cents June/July,then purchased 370,000 June/July@ 67cents then purchased 300,000 @ 79.8average mid October everytime it dipped under 80cents!!
My stop loss is at 72cents!!!! Because I have such a big parcel I have allowed an extra 2 cents above my average.

 

[Lucstar]

Re: MGX

Holy Sh*t Johnno,
Excuse my language, but thats one hell of a stake in a company. I look at your stake and then take a look at mine ($2000 worth) and i just cant help but wish i was you. Lol. I sure hope all goes well for us.

 

[johnno261]

Re: MGX

Holy Sh*t Johnno,
Excuse my language, but thats one hell of a stake in a company. I look at your stake and then take a look at mine ($2000 worth) and i just cant help but wish i was you. Lol. I sure hope all goes well for us.

It is a big holding, however half of it is basically profit money that came from a large parcel of HDR's which I purchased mid year at $1.70 and sold at $2.25 and the other part came from a 30,000 parcel of BHP's at 17.90 and sold recently for exactly $3 profit per share @ $21.90.