MLS - Metals Australia

[dubiousinfo]

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.

What happens before the market opens at 10am and the same process is followed during the closing auction (4:00-4:15pm) and before ANY pre-open auction.....ie...usually about 10 mins before a stock resumes after a trading halt for any reason.

The stock market goes into pre-open from 7am during which time anybody can put in whatever bids/offers they like (auction). During pre-open SEATS (Stock Exchange Automated Trading System) then goes thru a 4 stage algorithm to compute the IAP (Indicative Auction Price) based on the mkt depth whenever it changes. The IAP represents what the opening price would be at that particular time based on the current market depth if the stock opened for trading there and then.

At 10am stocks begin trading in alphabetical order. The market is fully open by about 10:08am. When the stock opens for trading, all orders with bids above the IAP and all orders with offers below the IAP are executed at the IAP. The IAP when the stock actually opens becomes the quoted opening price. During pre-open people put in bids above the IAP and offers below the IAP to ensure their orders are executed on opening.

At 4:00pm normal trading stops but again anybody can continue to put in whatever bids/offers they like until 4:15pm, just like in the morning preopen, but the orders aren't executed until 4:15pm. During the 15 mins closing auction SEATS again computes the IAP as above each time the market depth changes. At 4:15pm, for each stock all orders with bids above the IAP and all orders with offers below the IAP are executed at the IAP. In this case the IAP will be the quoted closing price.

I hope this makes sense and helps

 

[Snakey]

its over for me now
will watch for 3 day retrace
thank you for the ton of cash mls

 

[MiningGuru]

Looks like it is now receovering after the re-trace to 8.4c

Up to 8.6c this morning

 

[Snakey]

Looks like it is now receovering after the re-trace to 8.4c

Up to 8.6c this morning

yes I believe so too and i am back in for christmas special / re-trace
on @ avg .0855 / 1m
i will hold them till after crissy
as i dont expect to much action till after the holiday break
very bad day on market over all

 

[Absolutely]

Well for mine, I agree that the retrace is virtually complete.

Back in at 8.3c this morning.

 

[skint]

Well for mine, I agree that the retrace is virtually complete.

Back in at 8.3c this morning.

Been hammered for another 9.7%. Manipulation or a common garden variety retrace? Be interested what the techy's thoughts on this one are. Pity no-one rings a bell to signify the bottom.

 

[nautilus]

Hi guys, I'm newbie to this website but have been watching some good post by the veterans.

MLS seems to have dropped about 25% since topping 10c mark on 15 Dec. Would be surprised if there's a small rebound but I think it should consolidate first.

Would love to buy this stock but I'm waiting for the retrace to complete. Any thoughts on this?

 

[mmmmining]

I thought MLS has some uranium assets. After a bit of research, found still not settled yet. It has been over a year now. Don't know what is going on. The deal looks so good on paper. But a bit of fishy. Also, the company looks like preoccupied by the zinc project. It might be a big mistake without closing the uranium deal quickly.

 

[Royce]

Mls up 16% today...consolidation phase over, start of the next uptrend.

Next resistence 10 cents.

Royce

 

[krisbarry]

Good run on this one today, more expected as drilling gets underway shortly.

 

[SevenFX]

I just had a lazy few bucks and decided to prop up mls with 3.4m at 8.9 NOT.

This should get things moving ????? but I may make it dissapear later, hence never getting filled... :

Heavy Insto minupulation going on here...

 

[Royce]

I just had a lazy few bucks and decided to prop up mls with 3.4m at 8.9 NOT.

This should get things moving ????? but I may make it dissapear later, hence never getting filled... :

Heavy Insto minupulation going on here...

The 3.4m bid moved up a few notches to 9.2 cents and got filled.

Makes me feel comfortable hanging on to minor holdings

Royce

 

[SevenFX]

The 3.4m bid moved up a few notches to 9.2 cents and got filled.

Makes me feel comfortable hanging on to minor holdings

Royce

Yes Royce

It did see it filled, to my supprise, as that one COS was $296,000.

What I was supprised about is if that is smart money, why was it chasing the price up till it got filled, and why was the order not broken up into smaller parcels... maybe not instos

That's a huge single parcel to fill as well...????

All new to me, so be interested to hear other experienced views....

SevenFX

 

[camaybay]

Looking at E Trade intra day chart, 3.5m at end of trading.088,other chart indicators MACD reducing below zero,OBV building.Day looks like consolidation below 0.09.Any ann in new year will release MLS sp into space.IMHO (Read the speeding ticket explanation)

_________________________________________________________________
All info can be inteperted, all ways, always. DYOR

 

[fma007]

This seems to be going down forever more.. anyone have an opinion on it? anyone know when any news is due?.. thanks

 

[ASX.CODE]

Zinc and most metals are down ...so.. whats happening should be normal.. however an announcement could work wonders...!

 

[kransky]

are we seing good support at 7.2c charties?

 

[SevenFX]

are we seing good support at 7.2c charties?

Hi Kransky,

I see only intraday support at .72 but not much else...so don't put the house on it..IMO

SevenFX

 

[vert]

i'm no chartie but here is one with a fib retracement, looks like it could bounce of the 50% retracement which also lines up with the highs in nov/dec before breaking up to new highs which would be support ?

 

[kransky]

thanks guys