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PMH - Pacmag Metals

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This is a tick chart of the last few days including today.

As Realist has pointed out there appears to be a weak base at 43.5 ish.
However what all should be noting is that every rise including the great start today is being met by more sellers than buyers.
Confidence in pushing on isnt strong.
As I though it still hasnt reached beyond its original breakout.,and as other have also pointed out is likely to range around these sorts of levels.
There is also the risk that it may fall off simply due to lack of new buyers.
Below 40c will not be good.Sustained supprot above 65 will be!
 

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Thats what it needs.

In the meantime you guys could have been in NLX---these are the sorts of opportunities that pass by when you sit and wait!
 
One thing I always say Tech-a is that its easy to say something when the train has allready left the station. I have jumped out of shares in my short trading life and have learnt thats not the way I like to trade. It doesnt work half the time..does work sometimes and its great. Thats the way to play it if your a day trader. I'll stay with this one like I said untill a bad message is put out or the sp drops with large volume to indicate something is wrong. If that doesnt happen IMO it will just trade steady untill their Blue Rose drilling results are released or further updates are released with any of their projects.
 
I'm not saying NLX doesnt have potential. I just hate selling out of one stock that I believe has great potential to go into another one. I stick to my guns untill something turns bad. Then I'll look for another one. I sold out of SHA to buy PMH. I only sold because I was sitting on a decent profit. I believed PMH now has the opportunity to double as did SHA. When that happens I might sell PMH.
 
Chris.

Just different styles.
The majority of my funds are invested in longterm and like you thats the way I like to invest the majority of spare funds.

I have a short term capital base which I use for shorter term trading but no where near the funds appropriated else where.

I dont blame the longterm holders for taking that veiw.
 
Pmh traded on a narrow price range of 45-46c by more than 1 m today at present, how does that mean ?
 
They have been holding up pretty will IMO. Will see what happens. I still think they will trade from 43-47 untill the next message is released.
 
I really dont know. It must be just around the corner. They commenced drilling at the end of July. The fall in price today was on very low volume and quite a few other mining stocks got hit. It will be interesting to see how they hold. I still think they have 3 projects running that can all produce positive announcements so they have a lot of projects to factor into their SP.
 
Bit quiet in here.
 

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I got out today at 43. Topped up my holding in Intec. Practically broke even..lost a tiny bit. I still think the holders could have a win with this one. I found something I liked better that is coming into production. I still believe Pacmag have a real shot with 3 projects with serious potential for good news but I wanted all my stocks to be producing..coming into production very soon or atleast commissioning their mine. I might re-enter but I was just too tempted with Intec coming into production of their bulk zinc concentrates scheduled for the end of this month.
 
Chris.
Like everything I think there maybe opportunity for those like you to still take advantage of possible rises.
Once PMH challenged the highs again and didnt succeed in breaking above it became clear that old buyers would just keep selling into strength.

Will be good to watch.

NORMALLY there is a slow drift into oblivion where in the end there is a mad selloff (Capitulation) and if it were me thats where I would think there is minimum risk if I was to buy and hold.
If wrong I just sellout if the capitulation low doesnt hold--no big deal--or hold for whatever comes. Nothing more annoying than watching a 50% plus profit turn to mud.Yeh Of course Ive done it!!
 
Well it was a potential profit for me..that turned into a very small loss. I tend to not sell for smaller profits though. I still believe Pacmag will rise. It wont go down too much further if go down at all. I still think the price is fair in relation to all the news they have released. The market is the ones who decide on the price of a stock though. I just jumped at the fact that I felt I didnt have enough Intec. With the potential I believe Intec have I just had to buy more of them..so in order to do that I had to sell something..which could only be Pacmag because all my other stocks are performing very well.

All my stocks are producing..or coming into production..commisioning a mine..and PMH was more of a play. Well not all my stocks..BMN is definately not coming into production yet I just wanted something that was going to have money coming in which is why I moved out of this one. Doesnt mean to say INL wont go down on monday. Good luck to holders. Once again if they say they can mine Anne mason economically. Then bam. All the holders win because investors will jump on board big time not worrying or thinking about how long it would take to bring a mine online. They also have the bluerose gold/copper results coming out. Good luck.
 
What has been happening with PMH? moving futher south, i think it might come down to 30c by next week, then i wll buy more and wait for one or two year.
 
According to all the other fundies here its undervalued at any price.

This thread makes a good read.
Worse than a woman in a shoe shop!
 
Realist said:
I bought some more at 46.5c.

I think I am going crazy! :bloated:
Click to expand...


I sold these at 46c today. For a 1% loss plus brokerage.

I wanted to reduce my holding. I'm off to Europe next week and need the money.

I still hold quite a few, but I was too overweight in PMH..
 
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