MLS - Metals Australia

[Snakey]

If you had waitied you can now pick up a large parcel @ 8.1, 8.2, 8.3, and 8.4

unfortunately crystal ball broken...(fell on the floor and smashed)
and i am impatient
you can buy your parcel @ .094 when next high broken
do you have any T/A on this stock???????

 

[CanOz]

I gotta say, i've tightened up my stop a little bit on this, but theres no reason for me to assume yet, that it will reverse. Quite the contrary, i think it might be settling into a nice little uptrend. Its retraced from the last big candle in a typical manner and then closed off the low today, on low volume. Shows a lack of sellers to me.

Cheers,

 

[tech/a]

Shows a lack of sellers to me.

Ahh the eye of the beholder,CanOz ever noticed how holders look and find positive slants on stock they hold and those who have missed it or dont hold find the negatives.

Subjectivity

Hopefully this is as it is,as of today tommorow will tell more.

This I believe is justification for Nizars statement.--Mind you Snakey will have plenty of opportunity to top up with some more at "Bargain" prices.
How many is a "Big Parcel" Snakey?? Have you unlimited funds?

 

[darian]

Tech,
Sorry Im still new to this, can you please explain why the drop in volume is a lack of buyers and not selling decreasing? How do you tell the difference when a stock is declining and volume reducing?

Ta.

 

[Boggo]

Tech may give a better example darian, my way of explaining it is this -
If I wanted to buy 100000 and you wanted to sell 100000, you sell your 100000 but I decide to hold off and not buy yet, then the volume has decreased and the price has dropped.
Other buyers may now be reluctant to enter so its mainly the sellers that are majority of the volume.

My worth

Boggo

 

[CanOz]

Ahh the eye of the beholder,CanOz ever noticed how holders look and find positive slants on stock they hold and those who have missed it or dont hold find the negatives.

Subjectivity

Hopefully this is as it is,as of today tommorow will tell more.

This I believe is justification for Nizars statement.--Mind you Snakey will have plenty of opportunity to top up with some more at "Bargain" prices.
How many is a "Big Parcel" Snakey?? Have you unlimited funds?

Sorry Tech, i can't see our chart (as per normal) but i agree that there could also be a lack of demand too, based on the low volume. Can you narrate your chart for me if you have tiime, so i can get your take on it.

Cheers,

 

[tech/a]

CanOz

Empty your mail box!

Darian.
Price generally drops through lack of interested new buyers at the price offered.If the price was percieved as good value then buyers would snap it up.
Low volume and a drop in price indicates than sellers had to sell at a lower price to attract buyers.
This will continue until price is percieved as great value by buyers who will then be forced to pay a higher price by sellers who no doubt will hold on to their stock until they get a higher price this will continue whilst there is demand.
Lack of demand means the only way to increase it is to drop the price.

EG.

I have 10 merc's current retail is say 250K each.
How many will you have at 250K?
None--bugger I want to get rid of them.
How about 220K---Ah Snakey bought a couple.
Still I want to get rid of them.
200K---Ah Snakey bought another couple.
See snakey wants to get rid of the mercs at greater than his average price and I want to get rid of them at the best possible price because I bought them at $160K each---but he doesnt know that.
Get the idea .

 

[darian]

Thanks guys, what you've said makes perfect sense but what if tomorrow is a down day and the volume exceeds today's volume? Does this also mean that sellers cant wait to get rid of their stocks?
How would you tell when buyers have re emerged when the price is falling? Increasing volume and price rising, hammers? inverted hammers?
Thanks.

 

[CanOz]

How would you tell when buyers have re emerged when the price is falling? Increasing volume and price rising, hammers? inverted hammers?
Thanks.

yes to all.

 

[toc_bat]

Sorry Tech, i can't see our chart (as per normal) but i agree that there could also be a lack of demand too, based on the low volume. Can you narrate your chart for me if you have tiime, so i can get your take on it.

Cheers,

CC - sorta off topic here, but not really, but i had similar rendering problems with other boards, hassled the admins for help, of course they cant as it is doubtless at my or your end, eventually decided it must be due to some idiosyncrasy particular to my system so downloaded another browser, mozilla firefox, that fixed it, was using IE6

 

[tech/a]

Thanks guys, what you've said makes perfect sense but what if tomorrow is a down day and the volume exceeds today's volume? Does this also mean that sellers cant wait to get rid of their stocks?
How would you tell when buyers have re emerged when the price is falling? Increasing volume and price rising, hammers? inverted hammers?
Thanks.

Yes volume sell offs are of course common on a turn from a high,particularly the small caps as the scalpers fall over themselves to get out at as higher price as possible.

As for reversals the problem is ---is a one day reversal sustainable.
Price will eventually reach a point where sellers dry up,now provided buyers havent left the arena (In which case there will be no support and the stock will turn into a downtrend) buying will resume.The next problem is that as price rises those who were wanting to get out but un willing to take a loss sit and wait for price to return. This is how corrective moves form.
Its common to see price head for the latest high and be sold down once again. Often falling past the low of the first corrective move. IE 3 OR 5 waves
in a correction.

Look for Long tails as exhaustive sell offs then buy backs.
Gaps down indicate blow off at the END of a corrective move.
Gaps up indicate new enthusiasm at the BEGINING of a move.
Look for 3 wave corrections being the most common.There are no waves evident in this move.

 

[sydneysider]

Held a very substantial position in oppies early in the year. After discussions with management got out (and missed 400% move). At $60 million valuation for one million tonnes of zinc ore might be a little steep. PDZ has two million tonnes of zinc ore on one kilometer strike on 10 kilometer mineralized zone with $16 million valuation. That is about one fourth the valuation for two times more of zinc ore IF the other nine kilometers is like the first then we might jump the moon. MLS only has about 4 kms of strike (admittedly some very high grades) and a "premium valuation" and about 700 million shares with very little held by insiders.

PDZ has about 60% of shares and oppies with major holders and insiders. The Managing Director is the largest shareholder. MLS has almost no interest from the major insiders. Will be very interesting to see what happens when MLS "rolls over".

 

[Snakey]

Ahh the eye of the beholder,CanOz ever noticed how holders look and find positive slants on stock they hold and those who have missed it or dont hold find the negatives.

Subjectivity

Hopefully this is as it is,as of today tommorow will tell more.

This I believe is justification for Nizars statement.--Mind you Snakey will have plenty of opportunity to top up with some more at "Bargain" prices.
How many is a "Big Parcel" Snakey?? Have you unlimited funds?

hi tech/a
by the way those mercs i bought of you... i held them for two weeks and sold them for 300k each... so we both made a tidy profit

yes tech i did make an early re-enty to mls...let me give you an update of my trading of this company and rough prices..
first bought @ avg 5.4/ 1.25 m sold @ 6.6
bought again 5.8 @ 500k sold 6.5
went off trading others for a while and came back late
bought again 8.4 sold at a sad 8.7
bought again 8.35 average /1.5 m
hard to buy large parcels at rock bottom prices
why buy yesterday.....to stay one step ahead of everyone else
time will tell if i made the right decision
i post my movements so other can see what i am doing
it is a very large parcel for me and my budget... it does not matter the number of shares.

 

[tech/a]

Snakey.

Good to see diversification in veiws.

Just because you and I trade differently doesnt make either right OR wrong.

Purely preference. You'll have a win while I may have a loss and vica versa.
At the end of the week/month/year its the total of the tape thats important.

 

[nizar]

hi tech/a
by the way those mercs i bought of you... i held them for two weeks and sold them for 300k each... so we both made a tidy profit

yes tech i did make an early re-enty to mls...let me give you an update of my trading of this company and rough prices..
first bought @ avg 5.4/ 1.25 m sold @ 6.6
bought again 5.8 @ 500k sold 6.5
went off trading others for a while and came back late
bought again 8.4 sold at a sad 8.7
bought again 8.35 average /1.5 m
hard to buy large parcels at rock bottom prices
why buy yesterday.....to stay one step ahead of everyone else
time will tell if i made the right decision
i post my movements so other can see what i am doing
it is a very large parcel for me and my budget... it does not matter the number of shares.

Snake just an observation.
Notice how your other profitable trades didnt require you to be one step ahead of everyone else.

 

[Snakey]

tech
in your chart you have the...likely retractment zone
wouldnt this be a break in the trend?

i have it at .078

 

[Snakey]

Snake just an observation.
Notice how your other profitable trades didnt require you to be one step ahead of everyone else.

yeah you are right nizar
maybe to early
time will tell

 

[nizar]

This one looks the goods. Still has a bit of work to do but looks promising in early morning trade.

 

[Wilson!]

I'm in

 

[darian]

thanks tech, very informative as usual.
cheers.