WMT - Western Metals

[PureCoco]

I received interim advice to "Chess Holders" re: allocation. No cheque for the balance. Has any one in Sydney got their cheque yet?? Maybe they put our money on a stock waiting to see if it went up to make a profit and hand the cheques back.lol. Not.

 

[Sean K]

I received interim advice to "Chess Holders" re: allocation. No cheque for the balance. Has any one in Sydney got their cheque yet?? Maybe they put our money on a stock waiting to see if it went up to make a profit and hand the cheques back.lol. Not.

I got mine in Melbourne. Perhaps it's just taking a few extra days to get to you? Sydney is a long way away.

 

[PureCoco]

Thank you Kennas for the reminder of distance - should have had it send to your place Melbourne then driven down and back in my car. Glad you did buy some as I know you were hesitant to begin with.

I do hope you took your lovely wife on a honeymoon further than Sydney. Any pictures on your blog?

 

[miiine]

I've recently sold out a part of my WMT stake to chase profits elsewhere while I believe WMT will be trading sideways...am going to be getting back in once I close off my other positions, but the WMTO options which issued last week have caught my eye. They're trading at 14.5 to 15c with an expiry of 2010 and strike price of 35c - I can get more than double the options compared to the shares for the same money. I'm thinking if the share price does take off with good news, then the options will start looking very tasty indeed.

What does everyone here think?

 

[nizar]

I've recently sold out a part of my WMT stake to chase profits elsewhere while I believe WMT will be trading sideways...am going to be getting back in once I close off my other positions, but the WMTO options which issued last week have caught my eye. They're trading at 14.5 to 15c with an expiry of 2010 and strike price of 35c - I can get more than double the options compared to the shares for the same money. I'm thinking if the share price does take off with good news, then the options will start looking very tasty indeed.

What does everyone here think?

These should be trading at between 5-10c.
Not the 14-15c they are at.
I would generally be going for oppies but the premium to the heads is just too much. IMO...

 

[miiine]

cheers for the advice. have to factor in that if i wanted to purchase the underlying shares it would be an extra 35c, thus as of today it would be 50c to buy and convert...

so really WMT has to go well above 50c to make the options worthwhile at the moment

 

[Sean K]

Looking precarious short term atm. I'm still holding my spp, but the rest might have to go if it fails here. Should be support as shown around 26 though.

 

[nizar]

Looking precarious short term atm. I'm still holding my spp, but the rest might have to go if it fails here. Should be support as shown around 26 though.

I sold mine today to top up my ESG.
Looks like itll trade sideways at best.
I can always get back on when she breaks.

Last few weeks im seeing alot of money go from U into oil&gas sector.
You know what they say, go where the money is, and go there often...

 

[AndyMc]

Still learning... a friend of mine had suggested it may go sideways for the rest of the week.

I was hoping this thing would close on or above $0.34 today... Looks doubtful

 

[Sean K]

Looking precarious short term atm. I'm still holding my spp, but the rest might have to go if it fails here. Should be support as shown around 26 though.

I'm all out and will wait for a re-entry signal. Good re-entry around 26 ish I reckon. If it gets there. Stochs are saying it's oversold, so maybe not. Now it's broken up-trend support, this basic TA is less reliable.

If the market wasn't peaking I'd probably hang in a little longer, but a general correction may punish explorers like this. Hopefully I'm wrong for holders and it spikes up, but the probabilities say it's heading down now. Long term players can probably relax, this has good potential. All the best.

 

[AndyMc]

I've also placed a sell order on this.. a conditional order, but a sell none the less.

Like you suggested, this may retrace back down to 0.26 maybe as low as 0.24. I would like to get back into this around that price if some possitive indicators appear.

My first trade and a loss, not a very substancial but still a loss. When I took the trade I felt a bit reckless and my senses have proven correct in this case.

Overall I feel happy with the outcome. :bonk:

 

[UMike]

I sold out of this also on opening.

Happy to get back in at some later stage.

 

[Sean K]

Comming into an interesting period here IMO. Should be good support just above 26 cents, maybe at 27. Last couple of times the Stochs has got to oversold the sp has gone for a run.

Helicopter recon and radiometrics are being conducted in Tanzania and drilling is due to commence May/June. This ann'd could be the turning point.

Geology study ann from Colorado could also be an impetus.

Or maybe just a good rumour.

 

[giss]

Sellers are piling in on wmt. I haven't seen that for a while. It seems the predictions of downward sp were pretty correct. A lot of traders must be cutting their losses. I hope the announcement soon sends the sp back up again.

 

[spooly74]

Sellers are piling in on wmt. I haven't seen that for a while. It seems the predictions of downward sp were pretty correct. A lot of traders must be cutting their losses. I hope the announcement soon sends the sp back up again.

Yeah they badly need something to stop the rot.
Been lucky to get in early on these but have a stop at 26c just above where the instos got theirs.
Would like to think it won`t get hit but not looking too healthy at the moment.
On the news front ..take your pick....any one will do!

 

[Gecko1]

I like the your work on the charts guys,i think that with upcoming news in May/June,that should be the turning point.

Cheers to all

 

[Sean K]

Comming into an interesting period here IMO. Should be good support just above 26 cents, maybe at 27. Last couple of times the Stochs has got to oversold the sp has gone for a run.

Helicopter recon and radiometrics are being conducted in Tanzania and drilling is due to commence May/June. This ann'd could be the turning point.

Geology study ann from Colorado could also be an impetus.

Or maybe just a good rumour.

Found support as expected but not out of the woods yet. Needs those results flowing!!! I'd expect that to be the turning point, if they are ok!

 

[giss]

i'm sure that wmt will bring out some sort of followup announcement. they seem to be well aware of whats happening. probably a good time to buy now.

 

[AndyMc]

I purchased WMT today, I paid a higher price then I would of liked but ohh well.. back in the trade.

 

[Sean K]

I've also placed a sell order on this.. a conditional order, but a sell none the less.

Like you suggested, this may retrace back down to 0.26 maybe as low as 0.24. I would like to get back into this around that price if some possitive indicators appear.

My first trade and a loss, not a very substancial but still a loss. When I took the trade I felt a bit reckless and my senses have proven correct in this case.

Overall I feel happy with the outcome. :bonk:

I purchased WMT today, I paid a higher price then I would of liked but ohh well.. back in the trade.

Andy, What's made you get back in now. Just the support line around 27 cents? The resistance line at 34 will be hard to breach in my opinion and won't be going up till then. What has made you get back in now? Just curious for the reasons that's all. A bit of discussion and comments from others might assist with entry decisions. Cheers.