MLS - Metals Australia

[tech/a]

With such a high close overnight on the DJIA,today will be bullish and MLS will break to new highs (my style).

Will be out of the office till lunch so will have to trade this by remote!
Hope you all make a squillion.

 

[krisbarry]

MLS looking very strong in pre-open...all base metal prices up overnight.

I have traded MLS a few times over the past 2 weeks and made a few grand profit.

 

[Dave31]

wow... good chance these can get pulled...

but 1,000,000 unit bid @ $0.10 ... please let that stay there!

 

[nizar]

wow... good chance these can get pulled...

but 1,000,000 unit bid @ $0.10 ... please let that stay there!

I like what im seeing with this one.
Indicative at 9.7. Very bullish.

That mil bid is probably Snakey aiming to get another "tiny" parcel.

 

[Wilson!]

Doh

Wish I could have held my 9.1c entry overnight

 

[Dave31]

good to see the bids building.
Would be nice to see this run up a bit, but like I've read you guys mention about the 'round number resistance'... 10c could be a hard point to pass...

Oh and I dont get that low sell offer at 8.9c, what makes someone do that??

 

[krisbarry]

Plenty of money has been flowing through both MLS and RMI of late and I reckon we will see resistance on MLS as it gets closer to the 10 cent mark. At that time RMI will most probably get a good run. Thousands of traders on both stocks, and both have had massive volume of late and speeding tickets

 

[Snakey]

I like what im seeing with this one.
Indicative at 9.7. Very bullish.

That mil bid is probably Snakey aiming to get another "tiny" parcel.

no im the one below it for top up of 400k

 

[nizar]

Can someone please confirm if this is how opening auctions work.

Say indicative is 9.8c.

If you want to be as in front of the queue as you can, ie. buyer, you would have to bid slightly above this price ie. 9.9c

And if you want to be as in front of the queue as you can, ie. seller, you would have to bid slightly below this price ie. 9.7c

Is that how it works?

And if it opens at 9.8c (as indicated). All the bids from 9.9 to 10.5c all get filled at that price i presume.

 

[Snakey]

Can someone please confirm if this is how opening auctions work.

Say indicative is 9.8c.

If you want to be as in front of the queue as you can, ie. buyer, you would have to bid slightly above this price ie. 9.9c

And if you want to be as in front of the queue as you can, ie. seller, you would have to bid slightly below this price ie. 9.7c

Is that how it works?

And if it opens at 9.8c (as indicated). All the bids from 9.9 to 10.5c all get filled at that price i presume.

no .....front of queue 53000 at 11

 

[nizar]

so if i bid 12c now ill get filled first, most likely at 9.8c?

 

[Snakey]

so if i bid 12c now ill get filled first, most likely at 9.8c?

correct

 

[Dave31]

How'd you go Nizar?

I've been interested to learn how the open auction works!

 

[Wilson!]

I'm in at 9.7
Was worried when went down to 9.6, but looks like it could bounce back

 

[Bullion]

Very strong now... I got a bit worried and was out at 9.8

Hitting a wall at 10c at the moment though...

 

[nizar]

How'd you go Nizar?

I've been interested to learn how the open auction works!

Weak open.
We need 100m+ in the first half hour to break through 10-11c. 20mil of sellers there now. Probably another 20mil off-screen ready to dump.

I had to help my aunt and uncle load their baggage into the car. Walked back into the office at 10:15. Expected 50mil+ and 10.5/11, but no go.

Still early morning though i guess.

 

[Snakey]

Weak open.
We need 100m+ in the first half hour to break through 10-11c. 20mil of sellers there now. Probably another 20mil off-screen ready to dump.

I had to help my aunt and uncle load their baggage into the car. Walked back into the office at 10:15. Expected 50mil+ and 10.5/11, but no go.

Still early morning though i guess.

needs time to unfold
strong support above 9.5

 

[nizar]

needs time to unfold
strong support above 9.5

Now 9.7/9.8.
Too many sellers.
Support with this stock means nothing. ON Tuesday 5million bidders at 9c got wiped out in a flash.

 

[Snakey]

Now 9.7/9.8.
Too many sellers.
Support with this stock means nothing. ON Tuesday 5million bidders at 9c got wiped out in a flash.

just a observation
things always look good before they look bad
sellers building strength now
whos going to buy at 10 when there is 11 mil at 10.5?

 

[Bullion]

Now 9.7/9.8.
Too many sellers.
Support with this stock means nothing. ON Tuesday 5million bidders at 9c got wiped out in a flash.

Just like then... 9.8 down to 9.6 were just smashed in a matter of seconds...