MLS - Metals Australia

[tech/a]

i am holding until this finishes

Interested in how you will classify---finished?

 

[Royce]

Sold at close, finish not strong enough for me.

Up 32% and closed close to its high of 7 cents, but finish not strong enough for you ?

You must be very hard to please.

Royce

 

[Snakey]

Interested in how you will classify---finished?

sellers out weigh bidders
profit takers race in
price crashes below day high by more than 18%
i dont normally get the top but i get maximum achievable profit (i believe)
gdn 1.155
aim .30
cdu 8.20
wmt .09
i think that will be enough indicators for me

 

[CanOz]

sellers out weigh bidders
profit takers race in
price crashes below day high by more than 18%
i dont normally get the top but i get maximum achievable profit (i believe)
gdn 1.155
aim .30
cdu 8.20
wmt .09
i think that will be enough indicators for me

Snakey, do you use the volume on an intraday chart to help you with those decisions?

 

[Snakey]

Snakey, do you use the volume on an intraday chart to help you with those decisions?

yes volume, price and also supply and demand in market depth.
what happens when price dives?? do bargain hunters rush in or run away
if they rush in, i hold, if they run away ill take who evers left

 

[tech/a]

Up 32% and closed close to its high of 7 cents, but finish not strong enough for you ?

You must be very hard to please.

Royce

Very much so.

sellers out weigh bidders
profit takers race in
price crashes below day high by more than 18%
i dont normally get the top but i get maximum achievable profit (i believe)
gdn 1.155
aim .30
cdu 8.20
wmt .09
i think that will be enough indicators for me

Interesting where do you calculate the 18% from IE high is 7c 18% off high is 5.7c Thats giving back over 1/2 the current 2 day breakout move?

This is a classic setup for a very quick selloff reversal after open tommorow.

I expect it will test the high very early then sell off dramatically.
Or sell off immediately causing an inside day.
Happens regularly with stocks that have risen over 30% in a day and (in this case or) risen over 50% in a couple of days.
Dont forget this is not being fundamentally driven only fuelled by emotion.

Goodluck all those still in.

 

[CanOz]

Very much so.



Interesting where do you calculate the 18% from IE high is 7c 18% off high is 5.7c Thats giving back over 1/2 the current 2 day breakout move?

This is a classic setup for a very quick selloff reversal after open tommorow.

I expect it will test the high very early then sell off dramatically.
Or sell off immediately causing an inside day.
Happens regularly with stocks that have risen over 30% in a day and (in this case or) risen over 50% in a couple of days.
Dont forget this is not being fundamentally driven only fuelled by emotion.

Goodluck all those still in.

Tech, you were obviously watching very closely today...care to comment on the price action? It seemed to me that there were more buyers off screen (as is normally the case), but picking off slabs of stock at certain levels.....then marking down the stock as if to make sure they got all the sellers before moving onto another price. This really interests me, as it makes sense that someone buying for a client would want to or have instructions to accumulate at a certain range.

Any comments on this?

 

[Snakey]

Very much so.



Interesting where do you calculate the 18% from IE high is 7c 18% off high is 5.7c Thats giving back over 1/2 the current 2 day breakout move?

This is a classic setup for a very quick selloff reversal after open tommorow.

I expect it will test the high very early then sell off dramatically.
Or sell off immediately causing an inside day.
Happens regularly with stocks that have risen over 30% in a day and (in this case or) risen over 50% in a couple of days.
Dont forget this is not being fundamentally driven only fuelled by emotion.

Goodluck all those still in.

you sold today at close
if they go to 10 cents where they belong IMO you have missed nearly 40%
these shares take time
example cdu took over one month to "finish"
mls is no cdu, I know
gdn took nearly a week to reach 1.255

everybody trades their own way and you must do what works for you
i am a day trader and these stocks are my bread and butter
tomorrow may be poor but until the price falls too far, i stay

 

[tech/a]

Snakey

you sold today at close
if they go to 10 cents where they belong IMO you have missed nearly 40%
these shares take time
example cdu took over one month to "finish"
mls is no cdu, I know
gdn took nearly a week to reach 1.255

everybody trades their own way and you must do what works for you
i am a day trader and these stocks are my bread and butter
tomorrow may be poor but until the price falls too far, i stay

I sold for the second time at close today. I was trading only a small 200,000 parcel with a view of adding more at .71 if hit---never got hit never looked like it.
First parcel was substantially more.But thats all to do with my position sizing and risk management not part of this discussion.

IF A small word which has no place in trading.
We all trade differently, I have no problem with your idea for exit, just interested in how you calculate it.

CanOz

I did notice sellers action more than the buyers as I sold my first parcel before the 2nd rush of buyers and then went out to some appointments..What I did see were parcels of 2-5 million being sold in one go. They seemed at market as they would take out a couple of levels often taking a few minutes to recover at one point a depth of 11 million went in one sale--recorded as many smaller parcels at the same time slot.
As you well know there are a myriad of buying stratagies this seemed buy X amount at X level and sell the lot at market if it hit Y level.
Seems a few had a second go,some still there.

 

[nizar]

tech,

I saw that as well.
Alot of off-screen sellers.
At one point around 1130ish, when we hit 6.8 the first time, there were buyers in the depth 11million at 6.7. 5million at 6.6 and 4million at 6.5. I refreshed and all gone. A big player dumped his truck and took out every1.

Towards the close, sellers were clearly winning.
The flurry was to get out, not in.

Tomorrow i suspect a gap up then a sell-off.
BUT what may happen is that it will bottom out around lunch time and then perhaps an arvo rally. If the close looks to be convincing ill be looking at getting back in this one.

10c can still happen but probably not 2mrw.

Just my opinion.

 

[SevenFX]

risky trade now though
i bought at average 5.4 @ 1.25m
so you can see why i am so excited

Wow $67,500 on a spekky, that a lot of exposure there Snakey.

Do you have the same riding on other shares at the same time...???

Who's your Bank Manager and what does one have to do to get bank rolled to that tune...??? $

$

$

per share.

 

[Kauri]

Snakey



I sold for the second time at close today. I was trading only a small 200,000 parcel with a view of adding more at .71 if hit---never got hit never looked like it.
First parcel was substantially more.But thats all to do with my position sizing and risk management not part of this discussion.

risky trade now though
i bought at average 5.4 @ 1.25m
so you can see why i am so excited

I'll see yours and raise you one..

 

[tech/a]

Nah I fold.

 

[toc_bat]

well i certainly HOPE mls does well today, or at least opens well, as Etrade is DOWN AGAIN, its only 7am but they have a habbit of not being online till at least 10,30am when they are down,

maaan they have been down way too often in the past 3 months i have been using them,

as the opening looms could some nice people post on how it is looking at starting off?

 

[dutchie]

g'day Toc-bat

8.08am EDST VOL 39m - 26m --- IAP 0.066

Cheers

 

[toc_bat]

dutchie, due to my newbie state i find your post a bit cryptic.

btw etrade is online now, phew,

but i am still interested to learn the lingo, can you elaborate,

hang on let me try to work it out,

39m is market dpth total buy volume, like wise for 26m for the sell and IAP is the price it ought to open at? right rong?

Etrade just shows me the market depth, so i see the order at 7c but it doesnt tell me the open price according to the asx ´s formula. asx doesnt list it on their site either. anywhere on the net i could see this u reckon?

thanks

 

[clowboy]

Toc bat,

Etrade should show you EOP but given that it is the same as yesterday's close it should be the same with no change

 

[clowboy]

Well I stand corrected, just checked my etrade account and no indication of EOP. LAME

 

[Raging Bull]

EPO is 0.067 according to Prospecta..

 

[SevenFX]

Etrade just shows me the market depth, so i see the order at 7c but it doesnt tell me the open price according to the asx ´s formula. asx doesnt list it on their site either. anywhere on the net i could see this u reckon?
thanks

TB,

Are you using their "power eTrade" package or just their website and refreshing the price...????