MLS - Metals Australia

[MiningGuru]

Very strong close

Pushed up to 9.4c, above its highest for the day on the ending auction.

Very bullish signs for tomorrow!

Strong volume too.

 

[Snakey]

well ill be
did not expect that
back in at close with just 500k

 

[Dave31]

Was in meetings all day, came back and noticed a high of 9.2c and current of 9.0c was getting a bit nervous about missing the high.

The close looks promising for tomorrow. Might have to keep a close eye on it around open!

 

[Absolutely]

I kind of think there is coming news out there driving this. Really took off at the end there. I was continuously pulling my sell orders all day at the last second. Glad I stayed in.

 

[tech/a]

Interesting.

Its set itself for a double top of .094.
You'll note from the chart the volume has been less on this move than in other impulse moves. (breakouts).
Best of luck Snakey you should change your handle to "Maverick"----- I have a trust called Maverick!

 

[ezyTrader]

tech/a, it's interesting cos my interpretation is today's move is a bullish white candle, esp with 14% gain.
Well, tomorrow's action will tell-- double top, or a breakthru from the 9s to the teens. And then of course, 10 cents will always be the price barrier to contend with.
Welcome other opinions.

 

[Snakey]

Interesting.

Its set itself for a double top of .094.
You'll note from the chart the volume has been less on this move than in other impulse moves. (breakouts).
Best of luck Snakey you should change your handle to "Maverick"----- I have a trust called Maverick!

thanks for that
kicking my self at that last trade (out at 0.9)
has any one got a gun???
still learning so cant be to hard on myself.
good luck to all holders

 

[tech/a]

Thought you had another 500,000?

well ill be
did not expect that
back in at close with just 500k
Today 03:17 PM

Anyway If it does blast out at open the trend will be far stronger than anticipated and this will be a continuation of the current trend.
With a possible top of around .098c or 12c.Based on Measured move analysis (ie 100% of the last moves length or 1.618% (fib Numbers)).

However I'm still not convinced that this wont form a double top.
Thats why I'm not in.Even if it did blast on I probably wont trade it as it needs some consolidation to sustain a move.(My opinion).

Some great profit there snakey,but gutsy trading by my standards.
But they are mine not yours.

 

[Snakey]

Thought you had another 500,000?

Anyway If it does blast out at open the trend will be far stronger than anticipated and this will be a continuation of the current trend.
With a possible top of around .098c or 12c.Based on Measured move analysis (ie 100% of the last moves length or 1.618% (fib Numbers)).

However I'm still not convinced that this wont form a double top.
Thats why I'm not in.Even if it did blast on I probably wont trade it as it needs some consolidation to sustain a move.(My opinion).

Some great profit there snakey,but gutsy trading by my standards.
But they are mine not yours.

488k actually....closing order not filled
850k order at .094
bidded .094 at close to prevent paying too much (would not bid 10) if it closed at 10 i'd be in trouble
also swapped 500k mls to 500k rmi today which was a mistake.. i think


we had some good consolidation at around 6c Tech
which indicates to me 12 will be the temp high
any further jorc findings would shoot it up further

 

[Caliente]

can anyone say yeehaw? Still waiting for that next announcement as per previous posting.

-Caliente
(chilling back with an icy cold one at Qantas Club, Melbourne ^_^)

 

[Wilson!]

I went in 8.7 out 8.9
then she dropped back to 8.5

Then in at 9.1, half an before going to a meeting - how stupid is that?
Didn't sell when she paused at 9.2c
Went back to 8.9, sold there as I had to leave, then saw it closed at 9.4c

Wuould have been around $800 profit for the day - small but would've been happy with that

 

[Royce]

I went in 8.7 out 8.9
then she dropped back to 8.5

Then in at 9.1, half an before going to a meeting - how stupid is that?
Didn't sell when she paused at 9.2c
Went back to 8.9, sold there as I had to leave, then saw it closed at 9.4c

Would have been around $800 profit for the day - small but would've been happy with that

Classic case of over trading...stick it in the drawer for a few months, you will do much better. Mls is ar the start of an uptrend, hang on to it for a few month and you will do very well.

Thats what did when i bought CBH at 7 cent and sold for 80 cents
Idl for 6 cents ...price is currently 29 cents

Royce

 

[nizar]

488k actually....closing order not filled
850k order at .094
bidded .094 at close to prevent paying too much (would not bid 10) if it closed at 10 i'd be in trouble
also swapped 500k mls to 500k rmi today which was a mistake.. i think


we had some good consolidation at around 6c Tech
which indicates to me 12 will be the temp high
any further jorc findings would shoot it up further

Snakey
This was NEVER going to close at 10c today. Not enough volume momentum. And the sellers are already waiting.

And iv seen companies release JORC resource estimate announcements and the share price do nothing.

That said i think the close is bullish for tomorrow.

But only if it doesnt gap up 2 far. If it gaps up 2 say 10c, then 10.5 maybe the top. But if we open at 9.4-9.6. Then we could be set.

My opinion only.

 

[Dutchy3]

I've had a look at this chart ... if I was long I'd just be hanging on for dear life ... looks like a ripper!

 

[Royce]

I've had a look at this chart ... if I was long I'd just be hanging on for dear life ... looks like a ripper!

Chart is looking magnificent..MLS has 20 plus cents written all over it.

Royce

 

[nizar]

I went in 8.7 out 8.9
then she dropped back to 8.5

Then in at 9.1, half an before going to a meeting - how stupid is that?
Didn't sell when she paused at 9.2c
Went back to 8.9, sold there as I had to leave, then saw it closed at 9.4c

Wuould have been around $800 profit for the day - small but would've been happy with that

This sounds like overtrading. I used to do the same thing not too long ago.

Youve got to have some sort of plan.
Why did you buy at 9.1c?
What signals were there?
(no criticism - none at all, im an amateur - just trying to get you thinking)

I was waiting for a break of 9.4 (the previous high) to re-enter. Never happened.

The volume today i notice people making a big deal about the rush towards the end, including a mate that gave me a call sounding very excited. It was no big deal. I told him that. We have seen this stock do 300m in one day. If the buyers were that desperate they would have chased the stock. I didnt see this. It was the Brokers who closed it up 2 ticks.

But if this has enough volume momentum to get past 10-11c. It could run very quickly.

 

[constable]

This sounds like overtrading. I used to do the same thing not too long ago.

Youve got to have some sort of plan.
Why did you buy at 9.1c?
What signals were there?
(no criticism - none at all, im an amateur - just trying to get you thinking)

I was waiting for a break of 9.4 (the previous high) to re-enter. Never happened.

The volume today i notice people making a big deal about the rush towards the end, including a mate that gave me a call sounding very excited. It was no big deal. I told him that. We have seen this stock do 300m in one day. If the buyers were that desperate they would have chased the stock. I didnt see this. It was the Brokers who closed it up 2 ticks.

But if this has enough volume momentum to get past 10-11c. It could run very quickly.

Nizar, i agree 100% you have got to give the stock a chance to run esp. if its trending upwards anyway! Dont be to quick to lock in your profits and look at the facts of the day !

 

[Wilson!]

Guys, yes I have a plan, today I bought at 9.1 as I saw it break above 9c and saw that as a major resistance.
I expected it to go up without any trouble, not with a gap

I had a 3.30 presentation to give, in the city, and had to close my position before I left

I am often trading on t+1 so can't hold overnight, or till close...

Had no choice.

But, that second trade was my first loss in 11 trades
Not bragging, just saying I'd love to stick around, longer trades, but can't just yet, but hey, this seems to be working ok for now

 

[constable]

Guys, yes I have a plan, today I bought at 9.1 as I saw it break above 9c and saw that as a major resistance.
I expected it to go up without any trouble, not with a gap

I had a 3.30 presentation to give, in the city, and had to close my position before I left

I am often trading on t+1 so can't hold overnight, or till close...

Had no choice.

But, that second trade was my first loss in 11 trades
Not bragging, just saying I'd love to stick around, longer trades, but can't just yet, but hey, this seems to be working ok for now

There is nothing wrong with trading between ticks, i know i did it about 4 times today on the one stock. Great idea if you havent got the money to sit on them!

 

[Wilson!]

exactly

It's only annoying when you look back, and see your first entry say at 36c, then two weeks later, the sp closes one day at 73c
(GDN - first bought in at 36c or so)

Ie holding would have been better, and more profitable than trading it - doesn't always end up like that though.

A few weeks ago, I made 6 small tick trades in about 3hrs
Each was about a 5 or 6 min hold, overall, for between 0.5 - 2c profit.

Made $1400 profit - stressful at times, but can be very profitable.