MLS - Metals Australia

[tech/a]

nizar.

In answer to your question.

 

[nizar]

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,

IGO,

Agree.
I think about 300m volume today.
Any close above 5.5 is bullish. That still means higher highs and higher lows. Upwards trend will be intact.

But above 6 would be nice.

 

[Sean K]

Good to see everyone making plenty of money.
As Kennas says, make sure you've got your seat when the music stops.

Where are you K. not here I'm assuming...but Tech your take always welcome.

Tks
SevenFX

I've had to step out unfortunately. I mean had a meeting.

I didn't get back in. Thought I missed the boat.....Well, I caught it just at the right time, but jumped too early..

 

[nizar]

nizar.

In answer to your question.

Tech/a

Thanks for your response.

WHile its obvious why you would be in again if price goes above 6.8c. But if it drops significantly, why would you re-enter?

Is it because the longer term (daily) chart is still upwards trend overall and it could still rally in the coming days.

In my opinion, This needs another 100m volume if its gonna make new highs today. May happen. May not.

 

[tech/a]

But if it drops significantly,

significantly being the optimum word here.

That doesnt necessarily mean today.
Its in pause mode now and may range around for a while.
I'd be suprised to see significant gains from here today.(above .067)

 

[nizar]

But if it drops significantly,

significantly being the optimum word here.

That doesnt necessarily mean today.
Its in pause mode now and may range around for a while.
I'd be suprised to see significant gains from here today.(above .067)

I agree. Probably wont make new highs today.

But you just never know. WMT i left the house on friday at 1pm. Price was 6.6c. Hit 7.3c and then went down to 7.1c. Ranged around for a while between 6.6 and 6.8. But yeh when i left last sale was 6.6. I came back home at 2:30pm. Price was 8.4. Had lunch. 3:00 it already hit 10.

I realise WMT in that sense is probably more the exception than the norm for these sorts of moves.

 

[Snakey]

I have a rule... never sell on a lunch time low (1pm)
Most trades i hold for days
when the trend turns ...I sell
I still hold for now.... to see what the arvo will bring.
touch and go

30 per cent is healthy for one day

 

[toc_bat]

Hi guys,

Im a newbie.

So far after an excellent first gain on CAZ, (my first day of trading was when it rocketed from 40c to 84c in about 1-2hrs on 1st August - maybe such a full on introduction was a BIT misleading, i thought id be doin that sort of thing on a regular basis) this got me thinking how easy this game is and what super gains can be had. Well ive lost my initial gain and some more as well, by running all excited and blind and entering on highs only to see them drop. I feel like a seagul attracted by frenzied squawking and commotion at the north end of the beach, only to arrive just to see the flock disperse and no chips in sight.

If I was to do with this stock what ive done a few others lately id buy it now, no hang on , NOW NOW NOW YES YES NOOOOOOOOOWWWW!!!!!

So ive read this thread very methodically, twiceish now, and the couple of weeks worth of announcements and it looks like from all the above comments that now is a risky time to buy. As it may teeter here for a couple of days or fall off. Although it is still potentially worth a possible 10c? no?

Tech/a - you mention significant drop, is that 20% or 30%?

What if it closes very strongly today, would you guys get in just before the close? or wait till tomorrow mornings open?

thanks all

ps ironically i added this to my watchlist on the 6/11 when it was around 3.3c, but steadily ignored it since until just a few too late days ago, ay karamba

 

[CanOz]

I agree that when the price drops over a period of low volume, it shows an unwillingness to sell. Such is the case today over lunchtime. This happens quite frequently and i'm not selling until i see the afternoon session play out, provided that selling volume doesn't enter the picture before that.

Cheers,

 

[Caliente]

Morning/afternoon gentlemen. Looks like MLS is weathering the lunchtime "storm" with bravado. I'm in the hold until the next significant announcement boat however, but am watching the sp intently.

Best of luck to all holders, including myself ^_^

 

[nizar]

now is a risky time to buy. As it may teeter here for a couple of days or fall off. Although it is still potentially worth a possible 10c? no?

From all indications on the chart, nothing according to my (amateur at best) interpretations says that this run is over. Monday was a break of 5 years of resistance at 4.2c. Thats very significant.

I cant see why it wont run to 10c.

But for now, we need high volume, maybe 50-100million, if we were to make new highs today.

Even if we dont make new highs and it closes where it is now, that will look very nice on the charts, and thats a close in the top half of the days trading range, and i think it will gap up 2mrw but only if the volume is there (and it should be due to end of day traders) to overcome the sellers lined up at 6.7 and 6.8 (there will be more of these if we do close at 6.3-6.5).

What if it closes very strongly today, would you guys get in just before the close? or wait till tomorrow mornings open?

Well im already in this. But as tech/a indicated, and i agree; if it hits above 6.8c and makes new highs for the day, there wont be a reason to not re-enter.
But if the above happens, likely a gap up then a sell off.

Remember the above are my opinions only and im just an AMATEUR.

 

[CanOz]

Hi guys,

Im a newbie.

So far after an excellent first gain on CAZ, (my first day of trading was when it rocketed from 40c to 84c in about 1-2hrs on 1st August - maybe such a full on introduction was a BIT misleading, i thought id be doin that sort of thing on a regular basis) this got me thinking how easy this game is and what super gains can be had. Well ive lost my initial gain and some more as well, by running all excited and blind and entering on highs only to see them drop. I feel like a seagul attracted by frenzied squawking and commotion at the north end of the beach, only to arrive just to see the flock disperse and no chips in sight.

If I was to do with this stock what ive done a few others lately id buy it now, no hang on , NOW NOW NOW YES YES NOOOOOOOOOWWWW!!!!!

So ive read this thread very methodically, twiceish now, and the couple of weeks worth of announcements and it looks like from all the above comments that now is a risky time to buy. As it may teeter here for a couple of days or fall off. Although it is still potentially worth a possible 10c? no?

Tech/a - you mention significant drop, is that 20% or 30%?

What if it closes very strongly today, would you guys get in just before the close? or wait till tomorrow mornings open?

thanks all

ps ironically i added this to my watchlist on the 6/11 when it was around 3.3c, but steadily ignored it since until just a few too late days ago, ay karamba

You need to be entering your trades before all of this happens, based on a signal of some sort. I did the same as you when i first started. Now i enter because the chart looks right to enter, and then i place a stop at support, then i look for a reasonable exit. Then i stick with the plan.

Anyway, good luck.

Cheers,

 

[SevenFX]

That 6.3c supppppport is really being hammered, and suspect (neck out) it will not hold.

6.3 (27.1m) -6.4c (28.2m) is where most of the trades have been placed.

 

[nizar]

6.3 (27.1m) -6.4c (28.2m) is where most of the trades have been placed.

SevenFX,

What software do you have to tell you the volume at each price?

 

[Caliente]

That 6.3c supppppport is really being hammered, and suspect (neck out) it will not hold.

6.3 (27.1m) -6.4c (28.2m) is where most of the trades have been placed.

excellent info Tekk! You're right, 0.63 just got broken!

 

[IGO4IT]

From all indications on the chart, nothing according to my (amateur at best) interpretations says that this run is over. Monday was a break of 5 years of resistance at 4.2c. Thats very significant.

In most cases, if a new high is reached then a re-test is imminent, so even if it falls back to early 6c or even high 5c then it will be a chance imo to re-enter.

with a volume like today, we can easily say that its a matter of time before it hits 7.5c....if not to stay but at least to trial it.

That's my , for me, its all about watching the right moment to jump back in.

cheers,

 

[ezyTrader]

Snakey,

I have a rule... never sell on a lunch time low (1pm)

Do you buy on lunch time low?

 

[Snakey]

still to close to lunch for me

.062 lunch time low

 

[Snakey]

Snakey,



Do you buy on lunch time low?

yes often
if i like a share enough and it is the first day of the run... yes

 

[SevenFX]

Whilst MLS has had a significant grade find, and the traders have definetly dropped in, the market has recovered all that it lost yesterday (some 60pts) which has undoublty had a green affect on this little baby...and my screen for that matter.