tech/a
No Ordinary Duck
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Having fun??
MLS - Metals Australia
- Thread starter SevenFX
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that is an amazing start to the day. up 30%, near record volume and all in one hour on no news! Bought in at 3c and was planning a long term hold on these, but dumping half is getting more and more tempting at these prices.
white monkey said:
No news?
Remember it was those (very) high grade zinc drilling results that fueled this run.
When it was released on Monday there was (only) 5mil volume at 1pm. Price about 4.2 up 1 tick. Then 1:08pm news announced. The next 1 hour about 50mil went through.
tech/a
No Ordinary Duck
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This is a 1 min chart as you can see buying is outstripping selling.
While this maintains in consolidation areas the stock will run.
Be wary of stocks which rise over 30% in a day or 50%+ in a few days they wont rise in definately.
Currently looks strong. but could change.
Note the critical support zone in the second/tick chart.
While this maintains in consolidation areas the stock will run.
Be wary of stocks which rise over 30% in a day or 50%+ in a few days they wont rise in definately.
Currently looks strong. but could change.
Note the critical support zone in the second/tick chart.
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was meaning no news today. thought it would have taken something this morning to make it run that hard in one hour. Agree, monday's ann was a bigg'un
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with the quantity and concentrations of the deposits and the big potential of there zinc projects what does everyone think the stock can potentially rise to? perhapes 10 -20c 
:
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big buyers are in.. with support level 6.6c
and resistance 6.7c..
if this break...
wow... 10c maybe in few hours
and resistance 6.7c..
if this break...
wow... 10c maybe in few hours
KIWIKARLOS said:with the quantity and concentrations of the deposits and the big potential of there zinc projects what does everyone think the stock can potentially rise to? perhapes 10 -20c
I think it will stop at 10c, sometime later this week. Or 10.5c.
Like AUZ and WMT. Those 0.5c increments usually act as a barrier.
Its traders pushing this up. They probably got no clue about their zinc projects. All they know is that MLS is the code and that its going up with high volumes. But thats enough.
tech/a
No Ordinary Duck
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Nizar.
You are correct i'm watching large day trades dumping 2-5 million lots which were bought in ithe initial buy up.
Currently the smaller market is absorbing them.
If and when they go or they decide that there are more legs in this and re buy then it has the potential to run.
Currently .066-.068 is the critical level.
You are correct i'm watching large day trades dumping 2-5 million lots which were bought in ithe initial buy up.
Currently the smaller market is absorbing them.
If and when they go or they decide that there are more legs in this and re buy then it has the potential to run.
Currently .066-.068 is the critical level.
Nizar, A quick question in regards to your trading methodology on MLS -
1. For this sort of volatile stock do you use a trailing stop adjusting frequently to the change in SP?
2. Do you set a profit target eg out at 10c or do you use your trailing stop too let your profits run and than get stopped out accordingly?
3. What triggers do you look for too exit eg. Market depth, intuition, i min chart etc?
Any help would be much appreciated.
1. For this sort of volatile stock do you use a trailing stop adjusting frequently to the change in SP?
2. Do you set a profit target eg out at 10c or do you use your trailing stop too let your profits run and than get stopped out accordingly?
3. What triggers do you look for too exit eg. Market depth, intuition, i min chart etc?
Any help would be much appreciated.
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this huge volume is happening in 1 hour and 48 minutes
it's really crazy today....
i should hold when i bought at 2.5c
sold to early at 4.1c...
now... whoosh... can't imagine anymore
it's really crazy today....
i should hold when i bought at 2.5c
sold to early at 4.1c...
now... whoosh... can't imagine anymore
tech/a
No Ordinary Duck
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out at .064
noobs said:
1. No. I try to take a longer term view. ie. a few days. I dont want to be stopped out if overall the trend is still up.
2. I exit when i think the trend has changed. Exits are still more discretionary for me compared to entries, which are clear cut.
3. Market depth i dont think is all that useful. Most of the big buys/sells come from off-screen.
My trading is very much a working progress. Let me stress the VERY MUCH part.
Tech/a is the expert. And id also be happy to hear his views.
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nizar said:
Adding your post Nizar, we have to always admit that when any share is to be pumped to dumped (even in a fake way), that we still have to follow, I've gone out few minutes ago @ 6.6c as I realised that the big order on buy, these are even walls to sell on higher or to prove a point that resistance is around that level....in both cases & even that I know for sure that is a "man made" resistance not natural dynamics but still had to act on end result that market will be weaker once that big wall from 6.6-6.8 will be destroyed.
Thinking of entering on weakness again early 6c & if I'm a perfectionist then I would defenitely wait for the sharp 6c.
current price 6.3c & volume traded 198m, don't know how far can volume go in 1 day but defenitely not far more here, I would say below 300m defenitely to allow space for further test to highs in coming days.
cheers,
Thanks heaps for the reply Nizar I have been closely following your threads on this and shares.com.au and although you consider your trading to be a work in progress I have learnt alot from your comments and I'm sure I am not the only one to be appreciative of your posts.
I too would be interseted to hear tech/a's opinion as he/she appears to be a battle hardened veteran when it comes to Technical analysis and trading in general.
I too would be interseted to hear tech/a's opinion as he/she appears to be a battle hardened veteran when it comes to Technical analysis and trading in general.
