SMY - Silly Malay Mining
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     holycow
Member
Username: holycow
Post Number: 1759
Registered: 08-2004Rating: N/A
Votes: 0
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| | Wednesday, September 14, 2005 - 08:59 am: |  
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... a possible "silly" trade here for those who are game, I won't try this one personally
SMY Daily
HC
"... if you've got a chart, I have an opinion!"
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ingot54
Member
Username: ingot54
Post Number: 786
Registered: 05-2004Rating: N/A
Votes: 0
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| | Wednesday, September 14, 2005 - 10:45 am: |
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Very dicey for mine!
In relation to the 200-day MA it looks wobbly. The SP keeps sinking lower, and the 200-day MA is about to roll over and point down = downtrend.
As well, the Bulls were completely indecisive during the last half-hearted rally, last Monday/Tuesday.
I'll go with the other toss of the coin, and say it will not bounce this time. Three strikes and you're out. There is no will in the Bulls to win this one.
I wouldn't put money on the match, but I'd go to see the game. Watch!
Keep Smiling
Trading style :Short Term and CFD's predominantly
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holycow
Member
Username: holycow
Post Number: 1762
Registered: 08-2004Rating: N/A
Votes: 0
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| | Wednesday, September 14, 2005 - 02:34 pm: |
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... can't disagree with you here, Ingot.
The reason why I posted it here is meant to show the "UNOBVIOUS" - what happens when a pattern fails to behave as anticipated by everyone. I hope it will "perform" to make this illustration a success. My unobvious plan is should it continue its crash and burn, I will play dead and pretend this post didn't happen!
Cheers.
HC
"... if you've got a chart, I have an opinion!"
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rederob
Member
Username: rederob
Post Number: 1377
Registered: 10-2002Rating: N/A
Votes: 0
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| | Friday, September 16, 2005 - 12:01 pm: |
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there is a time to buy for "investors"
and that is when SMY trades at its lows
in the minerals sector i buy into value
SMY represents excellent value
i recall charts showing OXR in diabolicals early this year
i bought more OXR at the time
SMY will crash and burn when nickel prices fall below $7000/tonne
as nickel is almost twice this price, the crash and burn scenario is a way off
early next year we will have the ramped up Lanfranchi results to add to Sally Malay's current mine production output
presently, both Sally Malay and Lanfranchi cash costs are about half the price of nickel
so SMY's overall profit margins are robust - anticipated net operating cash flows over $10m per quarter over the next year
with over $20m cash at bank and a strong exploration program running i don't pay too much attention to prevailing share price until it drops back into buying range
having added MGX last month using the same value principles i have little doubt that SMY will recover over time as the market notices its consistent quarterly profitability
i don't pay too much attention to PEs, but SMY's is absurdly low given its share price
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kate
Member
Username: kate
Post Number: 112
Registered: 04-2005Rating: N/A
Votes: 0
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| | Friday, September 16, 2005 - 12:33 pm: |
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Rederob,
I got into OXR and MGX because they had great charts. Nice when the fundamentals are there too.
Will keep an eye on SMY now that you've posted all that information however it will have to be over 90c with strong volume before I'd trade it.
Regards
Kate the chartist
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