MMX - Murchison Metals
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argh.. what is going on.......................it's now dropped a $1............
it's looking undervalued now.. .....
I made a bad short term call with this one. I should of sold but I usually dont look at short term trades as often as I do long term trades and I made the decision to hold 6 months. I have my stops in place now. Could of got a nice quick profit and now I could get a loss. I thought my entry at 4.98 was brilliant but thats the market for you
argh.
it's looking undervalued now.. .....
under value how??
this thing is yet to make a profit? how can it be undervalue
all it does is burn $$$ you be lucky if it doesnt go down to $2..
Sean K
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So, have you changed your valuation Chris? $9.00 a share isn't it? Why sell? Shouldn't you buy more?I made a bad short term call with this one. I should of sold but I usually dont look at short term trades as often as I do long term trades and I made the decision to hold 6 months. I have my stops in place now. Could of got a nice quick profit and now I could get a loss. I thought my entry at 4.98 was brilliant but thats the market for you
I'm not trying to be a smart @rse here. The analysts valuation was in line with yours wasn't it? It would still seem to be a very good medium to long term play from your numbers. That was just 4 days ago.
Correct me if I'm wrong, but I believe MMX is producing... just not as much as it would if there was rail infrastructure already built... hence the agreement with Mitsubishi.
From a technical analysis point of view, does it look like profit taking?
From a technical analysis point of view, does it look like profit taking?
So, have you changed your valuation Chris? $9.00 a share isn't it? Why sell? Shouldn't you buy more?
I'm not trying to be a smart @rse here. The analysts valuation was in line with yours wasn't it? It would still seem to be a very good medium to long term play from your numbers. That was just 4 days ago.
THis post is gold.
I share your thoughts, Kennas.
Seems like every1s a hero when the sp is going up.
But going down nobody knows that to do.
It pays to have a trading plan, that incorporates sound risk management.
While the market panicks, you just kick back, knowing exactly what to do if the sp falls, rises, or does nothing,
prawn_86
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i have to say i totally disagree with this.
that is what research is for, to tip the % balance in your favour, to say, 80% going up and 20% going down. otherwise you might as well just pick random stocks and hope, which is not what investing is about.
be it technical or fundamental analysis, speculative stocks are not a pure gamble, if they were you might as well just go to a casino.
there are plenty of people who invest in pretty much only 'speculative' stocks and make a killing
So, have you changed your valuation Chris? $9.00 a share isn't it? Why sell? Shouldn't you buy more?
I'm not trying to be a smart @rse here. The analysts valuation was in line with yours wasn't it? It would still seem to be a very good medium to long term play from your numbers. That was just 4 days ago.
My views havnt changed but my circumstances are different in some stocks now. I'm not playing with all my own money anymore. I have a margin loan account and it has made me some cash but there is still a need to protect it. Margin calls etc can come if you dont protect yourself. If it was my own funds I would just leave them there. I'm still currently holding. Like many say Hindsight is a wonderful thing. I stuck to my figures but they arent coming to fruition yet..I believe they will in the future..doesnt mean I wont protect myself though..especially when playing with borrowed funds.
Hopefully thats a good enough explanation for you Kennas. See stocks such as BMN/AOE/ECH/ERN/CFEO/AIMO/AGM/NGM/PXRO/ERJO/LEFO are all in my own money.
Only reason I started buying some of these more expensive stocks is because they are margin loanable. AOE and AGM became margin loanable stocks so I have a considerable amount of collateral because I have a large amount of money in Arrow and a decent amount in AGM. I decided if I can make money out of some of those stocks why not. Made a decent amount thus far but yes to date MMX has been a failure..doesn't mean it wont come good because I believe it will as you saw from my previous posts but no matter how much I like it I am still required to protect myself. Hopefully you understand that.
Only reason I started buying some of these more expensive stocks is because they are margin loanable. AOE and AGM became margin loanable stocks so I have a considerable amount of collateral because I have a large amount of money in Arrow and a decent amount in AGM. I decided if I can make money out of some of those stocks why not. Made a decent amount thus far but yes to date MMX has been a failure..doesn't mean it wont come good because I believe it will as you saw from my previous posts but no matter how much I like it I am still required to protect myself. Hopefully you understand that.
There are those who claim they can beat the casino as well.
anyway it's my 2 cents I'm not here to say who is right or wrong. Different ppl have different risk profile and they do as they please.
Just remember a 50% drop, to break even you have have to have 100% gain.
PS: I don't consider Mitsubishi is a great investment company
look at their car and stuff they produce, most of them are average and nothing special about them and well lag behind their peersThere are those who claim they can beat the casino as well.
anyway it's my 2 cents I'm not here to say who is right or wrong. Different ppl have different risk profile and they do as they please.
Just remember a 50% drop, to break even you have have to have 100% gain.
PS: I don't consider Mitsubishi is a great investment company
wow..an intelligent response..Mitsubishi is a company only worth 40 billion US :| They have only dedicated a Potential total investment of approximately A$3 billion. Thats how much they believe it will cost to build the port and rail. hmm.
About Mitsubishi Corporation
Mitsubishi Corporation is Japan's largest general trading company (sogo shosha) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, Mitsubishi employs a multinational workforce of approximately 54,000 people.
Mitsubishi has long been engaged in business with customers around the world in virtually every industry, including metals and mining, energy, machinery, chemicals, food and general merchandise.
I'm still holding for the time being. Havn't had to sell just yet. This is a good long termer. 12 months hold IMO. I just dont want the short term pain but I guess you cant get a winner every time straight away. I just need stocks to hold current levels otherwise I will be forced to sell.
Sean K
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So, you should have bought more Chris!! LOL. This could be a dead cat too. I'm waiting till the end of the week to relax.
Yeah. It makes me feel a lot better right now to see them up..but you never know. Have to wait and see how it runs for the rest of the day. Seeing it bounce hard like it has makes me think I should stick to my research but when it was going down I question myself as to whether I missed something. Either I'm going to have a very costly lesson with these or they will bring me fortune. I just cant see how they wont do well. With a 50:50 interest in a new infrastructure company building new port and rail for the midwest..Mitsubishi spending 3 billion..I dont understand why they could go down
Sean K
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Yeah, they look good, but you were spot on with protecting your capital if you have a margin loan. You especially can't afford to have borrowed money going sideways or down for too long. That's when 'time in' the market is not necessarily a good thing. In regards to going down, general market correction - everything goes. General recession......
I agree. Definately have to watch these. I'll see how they go over the next couple of months. I would like to hold for 6 months minimum but if things aren't looking good I wont dig my own grave.
