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WMT - Western Metals

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Broke Friday's high today & made a new high.

Sell off in afternoon is probably those T+1 commsec/no frills brokers type of customers who can't afford to hold but still making money.

a re-test to 11c is immenint imo, lots gone out today & more came in today as well.

Chart has a very nice MACD spike & looking healthy with the pull back today.

Volume today gives a contradictory hints to where its going, up to 3:00pm, one of the sellers was 10c with almost 14m bought/sold, while 9.7c had similar volume.

Seems to me that more are expecting more & a new crowd joined the table today, would easily call a retest to 11c anytime this week & most likely tomorrow (being Tuesday after a new high/high volume Monday).

Looking good & I've been accumulating, current market cap is rationally little compared to peers, only mid to end of $30m which imo has the potential on another ann or just trading pressue to double & still will be logical.

Any other opinions anyone?

Cheers,
 

Good to hear from you, IGO.
Hows things? Come back from a long holiday enjoying those profits ey?

If this clears 11c on volume, ill probably jump in. Will be keeping an eye out.
 
nizar said:
Good to hear from you, IGO.
Hows things? Come back from a long holiday enjoying those profits ey?

If this clears 11c on volume, ill probably jump in. Will be keeping an eye out.
Click to expand...


Hi Nizar,

Big holidays... yes.....enjoying profits!!! which profits???!!!

Hint: Total shares on issue I think 350m....be very careful on defining the word "volume". I can almost bet that 10m volume in either way in 2-3 weeks from now could move it higher & lower 10%+.

Good to hear from you as well!.

cheers,
 
Hi, IGO,
Nice you back, Missing you all this days !
I still hold EXT, and also got lots of WMT, hope to have a good ride.
Cheers,
John
 

IGO,

I mean volume relative to the average daily volume of this stock.

But of course - price is king.
 
A Question for WMT investors - How come URA (AIM), the company in a JV with WMT has risen relatively little over the past number of days in comparison to WMT. The volumes have also been very small - is this a good buying oppportunity or is there something suspect about URA - it doesn't make sense to me, would appreciate any insight!
 
MalteseBull said:
going down?

should i sell or buy more ? looks like its going to rebound soon
Click to expand...

Gonna rebound soon?
Why dont u wait for the rebound then before second entry?
 
is etrade playing up? the below is the first 3 lines of the bid column, and then the first three of the sell column, how come they arent being mathced up by the system, is wmt in a trading halt? news doesnt indicate that so far.

1 500000 0.100
1 50000 0.094
1 100000 0.093


1 100000 0.090
2 157520 0.091
2 240000 0.092

hey had another look, ok its all fixed now, it was in PRE NR, what is that?
 
How the hell did they manage a placement at 9c?

Is that investment group nuts or what?

They could have bought that investment on market for much less!!!!!
 

Placement announcement - looks very good at the moment.
 
Can't believe, 9c placement. How do you think the share price will go?
And compared with EXT, 6.5c placement, can't believe.
 
John,

9c is very good price, I don't know how they managed to do that but whoever done it is a genious

I see teens as a price to be more logical at this stage

cheers,
 
Highest close ever reached today at 9.5c after placement was announced, could simply say that market is in favour of placement.

If I'm not mistaken, there was pressure to delibrately put pressure on share price down WHILE market was trying to push higher.

One of the explanations could be that the placement takers were asking for more & actually decided to take more on market as they couldn't get more on placement.

Looking healthy again after yesterday's retrace & I'm still waiting to see the re-test to 11c happen sometime this week.

cheers,
 

looks like there has been quite a big error in this name this morning on the opening. I must say (and at the risk of copping flack) the more prevalant automated processing becomes, the more errors there are. I say if you are trading on the market with straight thru and you make an error, tough luck, you were given the responsibility and the priveledge to do it. The ASX are not tough enough on this IMO.
 
two40, I nearly made a quick mistake today too

Bought 90,000 when it resumed this morning at 10c, saw it stopped going up quick, and bailed at 10.5c

$410 profit for about 3 mins work.
Stressful stuff though, and I nearly closed commsec and walked away, hoping it would keep going up til I returned
 
Nice pennent build up.
Had a few today.Will load up if all goes to the pattern.
 

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Took this position on close as a low risk aggressive play.
 

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