WMT - Western Metals

[Sean K]

The MACD is still showing a buy, positive divergence still there.

I might buy some more tomorrow.

Hooley dooly, can you please post a chart showing the 'positive' divergence. My data must be wrong. Or, I must have the wrong stock code. Hmm, might depend on what type of divergence as well.

A stock dropping 7% on the day is very unlikely to have a 'positive' divergence at any time.

Still dangerous to be trying to pick a bottom here IMO.

 

[drasicjazz]

i m always Doubtful about buying back in
after a fall that deep...
i realy have to see some serious recovery to get me hit the buy button

that s me...but i m happy to hear otherwise
cheers and good luck to the people how challenge a stock to get that ultimate bottem

been there done that
and jms - jupiter mines has learned me a valueble lesson...

 

[vert]

just having a little play with the chart and EW, dont know if i got right or if it fits only know the basics of EW so correct me or add to this please.

looks to be in wave 5 which if is the same length as wave 1 should end at 0.20 which aligns with a rising trend line and bottom line of continuation wedge?
also possible minor 5 wave set up in wave 5?

 

[Mousie]

Looks suspiciously like Dines had made his millions and had bailed out ages ago on this one. ACB probably suffering a similar fate; a director selling out his entire stake isn't too convincing to say the least.

 

[Deadcat]

Wow, was considering re-entering this one but who knows where she is gunna stop. 22c at the moment is not looking good. Might be time to stop watching this one and move on to better things.

 

[Sean K]

Wow, was considering re-entering this one but who knows where she is gunna stop. 22c at the moment is not looking good. Might be time to stop watching this one and move on to better things.

The bottom of the gap up at 20 cents might be support and then 15. You are right. I think what will halt the slide is a couple of anns. They should have a few to release before the end of the quarter. If they don't get them out, then ouch.

 

[sydneysider]

The bottom of the gap up at 20 cents might be support and then 15. You are right. I think what will halt the slide is a couple of anns. They should have a few to release before the end of the quarter. If they don't get them out, then ouch.

IMHO WMT very affected by Dines "hold" commentary. This is the equivalent of ordering a stampede all the way from 45 to 21 and may be a little overdone, especially in the midst of a very "hot" u drilling program at Mtonya. This mornings sell-off had the look and feel of a "capitulation" and was probably the wash out of the Dines sellers who failed to jump out earlier. I would not be surprised to see a decent reaction back up in the sp as the fundamentalists come into play.

 

[vert]

well i backed myself in today, probably a little to early but i coudnt stop my twitching buy finger. at the end of the day it looks good for a reversal tomorrow (may not happen) with a hammer candle, decent volume, rsi indicating oversold. and if some good ann look where it could get back to

 

[giss]

I'm considering getting back in soon? what does anyone think it should be valued at? It was obviously overvalued at about 40c.

 

[Sean K]

Golly, you guys are determined to catch a falling knife. You probably will one day, but the pain!!!

My Just my opinion. I am not lisenced to sell financial newspapers.

If you think it's fundamentally a great stock and will go up over the years, buy it, and look at it once a month. If you want to be trading it daily, buy it but have an exit plan. If you can't do that, wait till it starts going up, at least.

Just ideas.

You guys must have money burning a hole in your pockets.

 

[sydneysider]

Golly, you guys are determined to catch a falling knife. You probably will one day, but the pain!!!

My Just my opinion. I am not lisenced to sell financial newspapers.

If you think it's fundamentally a great stock and will go up over the years, buy it, and look at it once a month. If you want to be trading it daily, buy it but have an exit plan. If you can't do that, wait till it starts going up, at least.

Just ideas.

You guys must have money burning a hole in your pockets.

Kennas,
Bought a decent position yesterday at 22.5 cents. The Dines crowd arrived on WMT and drove it from the 10's to 45 and back to 21. I know the chart looked somewhat discombobulated BUT the Americans are professional riverboat gamblers and they are not in this stock for a "quick flip". IMHO the whole bearish chart pattern has been a "setup" hence your negative technical comments.

These folk have deep pockets and will probably buy millions of WMT at the very moment all of the local "weak knees" are selling. The U technicals are extremely compelling and the grades and structures look amazing for early stage exploration.

Buyers are soaking them up like hot cakes this morning. Good luck to all longs.

 

[henry vanderhave]

Up to 0.245c at 11 350 trades.Seems to me must be unannounced announcement passing to select few.Bought yesterday oppies at 0.10 so all i have to say,bring it on,Im waiting.

 

[arcla1]

Just a funny story - I got into WMT late last year at 7.1 cents. I sold for around 11 cents soon after.

I thought, WOW a 150% return...

Then I bought EDE at 54 cents and held. 8 months on it's at around 65 cents.

Could have had 560% return...

Oh the pain of it all.

 

[vert]

thanks kennas for your concerns, i think the knife has stopped falling and now im in front. maybe a bit of luck but i will take it , anyway are you looking to enter now with this positive move today? there is a lot to look forward to with this stock

 

[Sean K]

thanks kennas for your concerns, i think the knife has stopped falling and now im in front. maybe a bit of luck but i will take it , anyway are you looking to enter now with this positive move today? there is a lot to look forward to with this stock

No change from this:

However, momentum seems well and truly down here and until it makes a higher low and high, I'm watching from the sidelines. So, needs to first break 33/34 when I would be looking at it from there. Then again if it breaks 37, depending what happens on the way back up.

So, a little way to go for me. Has been a pretty positive day so far, but a long way from being out of the woods yet, IMO. I'm a bit conservative though, so I some times miss a bottom.

(I have tried to catch too many falling knives over the years. Ouch.)

 

[giss]

the sentiment seems to have changed for wmt. I think it was well oversold & with a new announcement the price should recover somewhat

 

[Cruizer]

... the Americans are professional riverboat gamblers and they are not in this stock for a "quick flip"...

Hi there... what exactly do you mean by Americans? is WMT in US market as well?

 

[sydneysider]

... the Americans are professional riverboat gamblers and they are not in this stock for a "quick flip"...

Hi there... what exactly do you mean by Americans? is WMT in US market as well?

James Dines has a very substantial following in the U.S. His appearances at various resource investment conferences always attract big crowds and the guy is very funny and insightful. He has been into uranium and u shares for a long time and is now dabbling in WMT shares.

His prognostications on this stock have set off a major helter skelter on very large volume both up and recently down. So we have lots of US investors with deep pockets entering here at various points.

 

[Sanhedrin]

James was stopped out on 14th June, and has no rec to rebuy at the moment.

Just received TDL today also stopped out of A-Cap Resources.

 

[sydneysider]

James was stopped out on 14th June, and has no rec to rebuy at the moment.

Just received TDL today also stopped out of A-Cap Resources.

Lots of riverboat gamblers here now. Watch the fun and games. Drilling underway...being very well bid at the moment.....