OXR - Oxiana Limited

[Sean K]

I'm a bit of a novice. What does the convergence show?

Not sure what legs was talking about chops.

Convergence usually refers to MACD converging meaning the sp is flatening out and is maybe going to change direction one way or the other.

 

[legs]

Not sure what legs was talking about chops.

Convergence usually refers to MACD converging meaning the sp is flatening out and is maybe going to change direction one way or the other.

Kennas, it is exactly what i was talking about... as you have described, without a chart I was unsure.

 

[chops_a_must]

Cheers.

 

[legs]

Not sure about any convergance?

Bit of spt there at $3.25, resistance at $3.50. Not too much to tell really.

Looks to me like it was flattening out and has made a major move or was it just the copper price????

 

[Sean K]

I think POC is the answer to OXRs latest run down. NCM has been effected too.

Should be some support above $2.85ish to $3.00, but next servious level of support looks to be $2.50. Resistance at $3.50 on the way back up.

MACD negative divergence.

If copper keeps falling, copper lelated stocks are going to be flirting with dangerously low support levels not seen since the May June sell off. Concerning.

BHP is approaching around $26.00 and could be heading to $24.00.....I think this lack of support for the best company in the sector is effecting every commod related stock. With XJO looking toppy IMO, it won't take long for a big sell off in the US to crump our market, and eveything will go with it. That's my doom story for the day.

 

[RichKid]

............
............

BHP is approaching around $26.00 and could be heading to $24.00.....I think this lack of support for the best company in the sector is effecting every commod related stock. With XJO looking toppy IMO, it won't take long for a big sell off in the US to crump our market, and eveything will go with it. That's my doom story for the day.

I like the last line, sounds good Kennas! hahaha, trying to preserve a sense of humour, I'm going to get burnt a bit as well if commodities fall, but then maybe better buying later on. Nice to see OXR doing its ranging thing again.

 

[nizar]

Nice to see OXR doing its ranging thing again.

Yeh u could probably make a living range trading OXR and LHG!
Just buy at 2.75-2.80 and unload at 3.00.

 

[legs]

Some big volumes today when OXR went below 3.00 some big 600k orders going through. Good support at this level good to see.

 

[bvbfan]

Freeport takeover of Phelps Dodge got it going today

 

[legs]

Freeport takeover of Phelps Dodge got it going today

Bad Link....what has freeport or Phelps Dodge got to do with anything????

 

[bvbfan]

Bloomberg article here


As for link, well OXR was trading at 2.97 when I saw that come across the wires, whatelse will cause the run in that amount of time???


Also merger of copper majors continues the rationalisation on the miners, only downside was that I saw Phelps Dodge as a potential bidder for OXR if any other party showed their hand

 

[Out Too Soon]

Why is the copper price struggling, is there an over supply, a lack of demand?

 

[Sean K]

Why is the copper price struggling, is there an over supply, a lack of demand?

Inventories are increasing although this may not be a true sign of the supply/demand equation.

Don’t Be Fooled By Copper Weakness
FN Arena News - November 20 2006

By Greg Peel

It was copper carnage last week as a continuing trashing of the copper price in London and New York saw 4% wiped off diversified BHP Billiton (BHP), 6% off diversified Rio Tinto (RIO), and 20% off pure-play Aditya Birla (ABY).

Copper inventories have increased 70% since the start of the year, causing the market to become panicky about the end of burgeoning demand, the end of the commodities boom, the end of the world as we know it etc. However UBS analysts want to put things into perspective.

Firstly, the increase in inventories means there is now three weeks worth of consumption in warehouses, up from two at the end of last year. Hardly a glut, particularly when you consider cycle high stocks historically run out to 9-12 weeks. This represents 152kt of metal at the LME, compared to the 20 year average of 325kt.

Secondly, UBS global analysis suggests the "apparent" weakness of Chinese consumption – the real panic factor – is due to destocking only and is not a genuine demand reduction. Destocking has meant a fall in imports.

UBS remains convinced the commodities boom will continue and that Chinese demand will be strong for some time yet. Any weakness in US demand will be offset by Europe and Japan, the analysts believe. A good indication in copper market strength is the recent abandonment of price participation in the negotiation of TC/RC charges, which has put copper producers on the front foot.

 

[Out Too Soon]

Thanks Kennas, It would seem that copper produces are probably a bargain at present, esp Oxiana.

 

[legs]

Can someone confirm that Oxiana had a purchase of a parcel of 10,000,000 very early in the trading day today?? Is this a takeover poisitoning move??

 

[MalteseBull]

stronger gold price and weaker US$ should see the OX at $4 by end of year

 

[swingstar]

Here's an adjusted count.

I think we may be beginning a wave iii of 3 of (5) == bullish!

 

[rederob]

Here's an adjusted count.

I think we may be beginning a wave iii of 3 of (5) == bullish!

may i "interpret" you:$4 in first quarter 2007

 

[legs]

I took option package today to exercise at $3.25 on 22/2/07 but cost me $0.37 so take note and we'll see how i go. 50 contracts (50,000 shares) cost $18,500. I've been waiting for a good package and 260 odd packages (260,000 shares) where taken today at this price.

 

[swingstar]

I took option package today to exercise at $3.25 on 22/2/07 but cost me $0.37 so take note and we'll see how i go. 50 contracts (50,000 shares) cost $18,500. I've been waiting for a good package and 260 odd packages (260,000 shares) where taken today at this price.

Sounds like a good bet.

For my count to be invalidated, it'd have to hit $2.91 before another two decent impulse waves (similar or larger in size to the trend from Sep low to Oct high).