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Cheering for Raggie - MCR

Chart Forum » Stocks - ASX: long term & fundamental » Cheering for Raggie - MCR

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peterloh
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Tuesday, July 21, 2009 - 04:27 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



In the annual long term competition, Raggie selected as his entry MCR. Though he was first, I was cheering for it along with my selection PBG.MCR up today 31c and 19.5%. I happened to own a fairly nice parcel at an earlier price than he put his selection in. The rest is faith in my selection. This is amongst the package " tiny spec shares" that I bought in March and hope to keep for some time, as they say "the bottom drawer", not for trade, but something to look back on in a few years time.I won't be saying "I wished I have bought some of the shares in those days". As I have bought them quite some time ago, it is just a calm reflection, on something I bought some time ago.
My adrenalin flows with KZL and CEY, my new selection. These are the ones, I am looking to see, how they will turn out.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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gdd3
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Tuesday, July 21, 2009 - 08:14 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi P/L....Good luck comes to some of those who venture at market extremes, so well done on your fortune back in March in "jumping-in" to MCR and a few others you have mentioned. For me though, as I've often divulged to some fellow traders here, I can't rely on "luck" and as far as my trading is concerned "luck" plays a very small part of both my successful and unsuccessful trades.

Back to MCR and to some technicals, must admit she was one of two I narrowed down for last week's ASX Weekly Comp.(the other was WHN), as she had given a series of T.A.Z. set-up day's(T.1...Mon. to Thurs. as shown in the chart below) but no confirmation until Tues. last week after another T.A.Z. set-up day on Mon.(T.2). Thats when I joined you and a few others on board. Like you, was very pleasantly surprised to see her "whoosh" through $1.69 resistance(swing high of late June) and finish as high as it did.

Where to from here...well not that I agree with the position of your trend channel lines, and hence resistance but I think it about coincides with the midpoint line of the "blue" Pitchfork resistance lines I have drawn. So for me(as a shorter term holder of this one) I probably play it very closely from these levels...if it opens at abt the same level tomorrow I'll raise my stop up from $1.65 to about $1.76. If she gaps a few cents above today's high(I'd be surprised) then I'll probably get out at $1.88.

Nice ride anyway from both our perspectives!



Dolphin







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mook
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Tuesday, July 21, 2009 - 08:57 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi dolphin, I like your T.A.Z.analysis, which I think is second to none. I have been following some of your trades and on many occasions, found them to have similar outcome to that of PL although the approach is very slightly different.PL has been around for some time, some may think that he is contrarian in his approach, but for me, he has researched his selection pretty well judging by his willingness to post for all to see what he got, not after the event.Sometimes he seemed to be far fetched but the results speak for themselves.I am watching his 2 latest selections carefully and will pounce on him, if it doesn't deliver. I like the volume though and if he hasn't posted his selection before, one may think that he does after the event. He does build up gradually adding more to them, once his confidence creeps in.Like you guys, I have some MCR and I will be following your advice.


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bridog
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Wednesday, July 22, 2009 - 12:13 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Peterloh, Dolphin and Mook,

I am glad to hear of you having success with Mincor.

I have been a long term holder and trader of MCR since 2001/2, when they were about 20c. I have a core holding, but trade small parcels at the edges which makes life more interesting.

MD David Moore is almost a deity to me as an outstanding miner, manager and businessman. He never seems to put a foot wrong and ensures MCR's successes are shared with the shareholders. MCR has never had a capital raising other than the original $5 million raised as an IPO. There was some borrowing to get Miitel and Wannaway off the ground (so to speak) which MCR repaid about 5 years ago and has had no debt since. MCR has had good exploration success and also success in reviving and developing abandoned mines.

David Moore believes there is a big nickel lode waiting for him to discover in the Kambalda area and if there is, he is just the one to discover it. If there's not, well we can continue to enjoy the ups and downs of the share price.

I sold a small parcel today, have set a further sell price of $2.05 and a buy price of $1.49. I don't care which happens or when it happens, but I am looking forward to the next dividend.

Cheers

Bridog


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mook
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Wednesday, July 22, 2009 - 06:27 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi bridog, well come to the Forum.It is good to have a true follower of the share. From what you told us about MCR, it must be a good share. I remembered at one stage, a couple of years ago, PEM and MCR were one of those better performers.A few months back, I got in both these shares,as well. MCR has gone on to better things, PEM still has some way to go.It could be a late developer, but any improvement in PEM is well come. Meanwhile we all can enjoy the fruit of MCR.Cheering for Raggie.


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hershy
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Wednesday, July 22, 2009 - 06:47 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Guys,
I don't hold MCR but wish that I did.
Don't get too carried away though. A day such as yesterday will usually be followed by a test of strength. A little retest will result in profit taking which will feed the re-test, I would not be surprised to see the price action mov back to around $1.70 in the next few days. In fact even a retest of $1.50 is a probability.

Any zinc play will do when or as the recovery gets under way. MRE has it's problems but that too shows huge potential.
Good pick Peter. I too like your selections.


I do it doji style !

http://members.optusnet.com.au/~hershy/

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mook
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Wednesday, July 22, 2009 - 06:54 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi dolphin, they say, "you made your own luck". Sometimes, we ignore the effort, someone put in and call it "luck". I am sure Peter do not need anyone to speak up for him. I can see his strategy of picking these once upon a time beaten "dogs". Are they really "dogs" or just a sign of the times, these shares were way oversold, the resources? Even if you are the best producer, or you run a monopoly, it won't do any good unless you have orders coming in.Once demand picks up, the commodities price will turn up, these companies will emerged a fitter and more hungry producer, emerging an efficient money making machine, till the next cycle. I don't see any exploration companies in Peter's selection, more proven producers.I also notice, that he hasn't chosen any precious metal, on its own. He has selected mainly base metal, which in a recovering economy will be raw metal needed the most. I noticed that even this he has selected copper as the foremost important. To date, he has not even selected aluminium, perhaps he is looking into it now, as it starts to show signs of life. Or building material in American, like Boral as residential buildings may pick up in the near future.It is only my observation, I think he does time his entry and exit and there is logic in his selection.Have a nice trading day, dolphin, you don't need luck, you are just an efficient trading machine(lol).Keep posting, those T.A.Z., you have a winning formula and I appreciate your sharing your research with us, thank you.


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hershy
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Interesting to see broker predictions contradicting chart projections.




I do it doji style !

http://members.optusnet.com.au/~hershy/

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peterloh
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What a chart? Just look at the direction and the angulation of MCR. This stock must be very underprize, the way it defies gravity.As I have no bragging rights, this is just for interest. Raggie has picked a very good one, indeed.The company has no debts and has been paying good regular dividends for a small cap company.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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bridog
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Wednesday, August 19, 2009 - 02:59 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi MCR Fan Club,

Damn, looks like the retracement might be over. Have sold 4 minor parcels of MCR into rally and now seeking to buy at $2.39, thought it may happen tomorrow but with DOW and US resource stocks on the up it's looking less likely.

Mook, I also hold PEM, and am happy to hold as they seem to be on the right track at last. Buying back the silver rights will improve profitability and zinc price now well above breakeven.

Looking back, I was quite bemused when they sold the silver rights for what? $30 million I think . . I should have quit them then, but no, too stupid.

Cheers

Bridog


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hershy
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Wednesday, August 19, 2009 - 06:31 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



If yesterday's low is wave 2 bottom then wave 3 target is 60 cents. I do believe it was wave 2 bottom.


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.

http://members.optusnet.com.au/~hershy/

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baysider
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Hi Hershy

Do you mean $6? With the price around 2.50, 60c seems unlikely


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visions
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Hi Baysider,

I think Hershy was referring to PEM in Bridog's post.

Cheers ... Visions


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hershy
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Bingo, PEM it is.
Clear visions !


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.

http://members.optusnet.com.au/~hershy/

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peterloh
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Hi bridog,

I got some at $2.40 in sauna Malaysia only about 3 weeks ago. You saw the defying gravity climb of MCR since. It came back to earth in a couple of days and I sold half of my LYC to pay for some more at $2.72. MCR looks solid with no debts and regular yearly dividends.I can say not many mining companies are that solid and that well managed. In buying back MCR I have to pay 25-35% more than I previously sold them for. Such is the fate of short term trading.I would have done better by holding it in the first place. There are many lessons to be learn here.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Peter and others
Speaking of nickel, here is a quote from an article in the Eureka report which is about 2 weeks old thus it pre-dates the correction on the Shanghai stock market.

PAN - Panoramic Resources is a big nickel producer, and practically all its off-take goes to China. Weíre not totally hooked into this Chinese theme, but weíre very aware that itís not speculative; itís genuine. Weíre seeing an economy thatís generally in recovery mode, which will post strong economic growth and industrial production growth over the next couple of years. That has only positive ramifications for commodities at the moment.
And here is the Wunderbar PAN chart :





The big money in stockmarket investment is not made in the thinking, itís made in the sitting.

http://members.optusnet.com.au/~hershy/

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peterloh
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It is time to look at MCR again, as the MACD is turning up and we have a morning star in the making last Thursday.Having sold out some as profit taking and some through an error I bought a few back at a higher price than recently, that was at $2.40, although not too far from the present level. I believe it is more with the price of nickel as the company has no debts and able to produce nickel quite cheaply.
Any comment is well come.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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bridog
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Hi Peterloh,

MCR is a proven performer, I have a core holding but trade small lots on the peripherals eg I sold some at $2.81 and bought the same value back at $2.39. I have a sell order on the same quantity as previously at $2.81, and a buy order at $1.93. I don't really mind which happens.

As you say there is no debt and MCR has continued to pay dividends despite the downturn. I am a big fan of MD David Moore, after the shock of the GFC he scaled back production and lowered costs. They say they are are in a position to scale back up without major expenditure as soon as the the nickel market stabilises.

Cash costs last quarter were A$9800 per tonne with sales at A$19500 tonne and capex $2400 per tonne, so spare cash of $7300 tonne or around A$16.5 million to pay overheads (which are minimal) and put in the piggy bank.

This is a beautiful business.

All the best

Bridog


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peterloh
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bridog, you won't get any argument from me. I belong to the David Moore's fan club too.I made a mistake of selling one too many just below $2 as my overall cost were 70c then. Now I am the proud owner of $2.40 MCR shares.I thought with David's track record, MCR is worth the money.Now, all we need is the SP of MCR to go up again.

While you are there, have a look at MCR's cinderella sister, PEM. Perhaps some of the glitter of MCR could be rub off on to PEM.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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gdd3
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Hi Peter and Bridog....

Technically yesterday gave a confirmed T.A.Z. trade entry for higher prices and bouncing off the lower support of the pitchfork drawn from the June consolidation period and MAY move higher from here. I guess my only concern is that both the 10MA and 30EMA are turning down which could suggest we have a bit more 'churning' to go and possibly another more comfortable entry signal not too far down the track. It is interesting to note that the breakout of the June consolidation was also pre-empted by a 'duel' T.A.Z. set-up signal as we seem to have in place now.

It has good support below between $2.00 and $1.80 though and is still well above the 150EMA indicating good market 'strength' overall.

Having said that, if she takes off from here maybe we should keep an eye on the new 'pitchfork' support/resistance levels shown on the 2nd chart.



2nd 'Faster' pitchfork support



Cheers
Dolphin


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bridog
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Hi Peter and Dolphin,

PEM appear to be finally on the right track. They are certainly profitable with zinc, lead and silver prices at current levels. They are very leveraged to zinc/lead prices, capable of extraordinary profits in good times, to horrible losses in bad times, bipolar really.

They have made some unfortunate past decisions, virtually gave away an operating gold mine and forward sold 17.4 million oz silver for US$2.10 oz plus US$2 on delivery. They have just repurchased 11.2 million oz for US4.91 oz.

They have a copper resource in Qld which they were drilling and announcing some excellent grades in good lengths. It was a bit perplexing to me when they eventually announced a new resource which was only incrementally better than previous.

They have now been rescued by the Chinese who have 51%. I think we can expect it to be better run, but of course $1 profit they might have made pre-reconstruction is only worth 50c to shareholders now.

I've got some but not sure whether I really want them but believe they are underpriced in this market. I'll likely sell a few into any rallies (sold some for 53c the other day). I reckon a fair value (all things being equal)is around $1.50 so I will likely be holding for a while!

Cheers

Bridog


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bridog
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Dolphin, love your pitchfork on MCR chart! I'll be watching with interest!

Bridog


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peterloh
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bridog, it looks like you are well informed and well versed with mining shares. I think things are getting brighter for mining shares with the GFC over, am I too early to call that? I won't be surprise that the SP of these 2 will improve in the course of time.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hailoh
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Peter, do you know Simon Sim Chin Cheong - Singaporean who is one of a number of authors who subscribe to the cycle theory - he is keen on 7 year cycles. He correctly forecast the bull run from 2002 but had it peaking in 2008.

By the cycle thesis we are in for a few years of very volatile markets - big runs up followed by demoralising declines, before a consistent bull trend develops again.

In 1974-5 there was a V shaped recovery similar to the one we are seeing now (I recall RIO at 50c). The upleg recovered most of the ground lost during the crash, but it then turned again to set an even lower mark. (Sorry I can't access a chart).

So, it may be a bit early to call the GFC over.


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peterloh
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Alan, I haven't heard of the man. My understanding of cycles are quite basic. However, I hope to make hay while the sun shines. I have little time to worry about all the negatives around.Having say that I haven't been out of the market all these years and I don't short the market.I just managed to survive and I do enjoy what I am doing. I hope you are enjoying yourself too.

With Best wishes,

Peter


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Sunday, September 13, 2009 - 10:45 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Is MCR resuming trend?




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Hmm........
An inside day. Not normally a bullish signal.
Friday night the Us went backwards.
Could we have a wee retracement fo about 15 cents first ?


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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peterloh
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Sunday, September 13, 2009 - 08:43 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi hershy, are we looking at the same share? My weekly chart shows a morning star on MCR.My daily chart shows MACD about to cross over and turning positive, so does the MACD histogram of MCR.Aside from the influence of Dow or the commodities weakness, I find MCR is more bullish now after the recent retracenment.Nowadays, I do not pay so much attention to the waves but more on resistance and support level and volume.
The DJIA was in the red by 22 points, hardly a ripple, probably regard as flat. However commodities was in the red on Friday. As we are a commodities based nation, this has a much bigger effect.Day traders find it harder to forecast, but short and medium traders, we rely more on trend, there is a certain degree of flexibility. Anything is possible, but I find it unlikely that MCR giving up 15c in the short term.I hope I am not overstepping my mark here, hershy.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Yep, same chart.


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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captain_chaza
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Monday, September 14, 2009 - 04:26 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I note that you use the 13 hour delayed IC programme (for FREE)

What delay do you get for FREE on your preferred and nominated Barbarian Charting programme?



PS Peter
What I am trying to say is that

If you must use DELAYED CHARTS then at least give us the respect and say you use DELAYED CHARTS

PPS How's that for a non nautical critique?

(Message edited by Captain_Chaza on September 14, 2009)

(Message edited by Captain_Chaza on September 14, 2009)


"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.

"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893

"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897





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hershy
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Monday, September 14, 2009 - 07:32 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Charles, thank you for the non nautically expressed question.
Showing Colin the respect he deserves, this may not be the place to discuss other charting programs.

There is no delay, I use FREE EOD.
I have to, I am Jewish !

I started charting using the Barbarian program and though some of it's characteristics stump me from time to time, it is what I am used to. I like the IC charts program very much and I can say that if FC is my right hand then IC is my left.

So Charles, the charts that I post are either all up to date EOD charts or else the IC FREE DATA charts so anyone should be able to tell whether the chart is delayed or not. I did not realise you were unable to tell the difference. Next time I post a chart with delayed data I will make it a point to state this so that you are not mislead.

By the way Charles, I am glad you are still taking an interest in this Forum. I truly hope you will continue to do so and look forward to reading post from - with substance though, not just wind.

As an aside I have recently purchase adjusted EOD data from Norgate, as recommended by Colin. I must tell you that I would NEVER, EVER do business with Nortgate ever again. Sure, they gave me what I bought, adjusted data, I grant them that. But my Barbarian program had issues with the format of their data and I spent at least 4 hours trying to get the data to update. With no support from Norgate other than to tell me to turn to the authors of my charting program and were quick to point out that it was deficient. When in desperation I requested they provide my the data in .cvs format, they refused. As they did a refund - as they were entitled to do.
I have to repeat, they gave me what I paid for and were really not required to do anything more. But as far as customer service is concerned, there was none to be had.
I honestly cannot see them surviving very long if they do not change their attitude. I know I will do my best to facilitate their demise by telling this story every opportunity I get.
In the process of updating my program with their data I lost all the company names - not Norgate's fault, so I wrote asking if they could possibly help me with this issue.
My letter remains unanswered thus far.
I don't believe it ever will be.


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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bib
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Hi all,
Positives are the pivot point reversal on the weekly chart and buying pressure shown by the TMF week 13. A daily pivot point this week may tempt some to enter.
Its now on the watchlist.


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peterloh
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That was a big call hershy, anyway just as well bib and I had to buy some to provide some support(lol) and also there was an announcement of new discovery of more nickel for MCR.You cannot have it all right on this one, lets hope a reversal for tomorrow.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Peter I am not sure what you are referring to a big call. I will assume you mean the drop of 15 cents. The again, it could be the request for substance/wind re Charles. Or my story about Norgate.

Now for something much more interesting..
Have a look at the chart below. It compares two shares one of which is MCR. Price and volume is fairly similar. Both shares went ex div last couple of days. The line charts are very similar, aren't they ?




The other one is PAN, an old favourite of mine that has made me many bucks on many occasions over the years and never failed me. It used to be known as Sally Malay. All of PAN's nickel goes to China.
I don't know which of the two would perform better as a long term investment. What do you think ?


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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peterloh
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hershy, you are right, I was referring to the 15c call. Whilst I expect some fluctuations but not to that extend especially I expect MCR to be recovering from here.I am not surprise of the similarities between MCR and PAN as nickel companies are very price sensitive.I found that quite a few charts have similar patterns.I hope you don't get offended by my straight forward remark.I have no intention to be rude.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Wednesday, September 16, 2009 - 06:16 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Smile when you say the stranger !
Hehe......

Peter, you've said nothing that should offend.
Now if Charles had said it .....................

(Message edited by hershy on September 16, 2009)


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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bridog
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Wednesday, September 16, 2009 - 06:52 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Peter, Hershy and all,

Hershy nice work on the dual chart! Further comparison should be made, unfortunately I do not have time needed to do it in the near future. If someone has the time and interest, could they please research and post on the following for MCR and PAN:

1 Current market cap
2 Latest resources and reserves and date of statement
3 Last year production in payable nickel
4 Last year cash costs
5 Last year nickel price received
6 The same info (3 4 5) for previous year.

Previous year is required to round out data as defence mechanisms may have distorted results for last year.

Anyone?

Cheers,

Bridog


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peterloh
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Wednesday, September 16, 2009 - 08:28 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi hershy, I suspect I have an ally here in bridog.Today's market will be on my side too as you had your day on Monday.I remembered the days Sally Malay was an exploration company and we had personalities like spider, uturn and a few others posting on that thread.Those days, I knew a lot more about Sally Malay than Mincor.Today I regard MCR as a gem. Bridog has a lot of info on commodities then he cares to show.
You have a nice week end and enjoy your new year.
Can you remember the morning when we had breakfast at Charles cafe? You forgot something, he, he! You couldn't come for the dinner the evening before?
I forgot what's his name but still remember the old times he he.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Wednesday, September 16, 2009 - 06:54 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)





Is that where I left my jocks ?
I remember meeting you, I remember Charles getting very familiar, I remember that very nice lady whose name momentarily escapes me but will spring to mind the millisecond I hit the send button.

And that is all.


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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hershy
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Wednesday, September 16, 2009 - 08:41 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



An update on my comments about Norgate not responding to my letter. They did. The response was as useful as tits on a bull.
But they did reply, can't take that away from them.


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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peterloh
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MCR - Where to from here?




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Bollinger Bands of MCR are tightening. It is ready for a breakout. Today it is on schedule after a period of consolidation.
MCR has broken out from its recent high and with a bit of volume.







-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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muzza
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Friday, October 23, 2009 - 05:22 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hello Peter
May I ask if you still hold this share?

I have some of these and my weekly chart is certainly exercising the mind

MCR

MCR has done well off its Nov/Dec 2008 lows - but seems to be having a rest at the 38.2% Fib level.

Putting a fan across the top, suggests we might expect to see and extended consolidation phase to the lower level of fan, perhaps several months.

Opinions?

regards
Muzza


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peterloh
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Hello Keith,

It is nice that you are contributing again.Yes I do have MCR at a higher price of $2.40 and quite a few too. My original holding of 70c have been sold just below that price.I am hopeful, probably wishful of MCR going on from here. It had a breakout and reached $2.57 but promptly receded back to this level again.MCR has strong support around this area and I am bullish on resources on the longer term even with short term volatility.I am hoping that it will work out in the end.What are your thoughts?


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Saturday, October 24, 2009 - 10:14 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)





Taking some liberty with the pitchfork.
Assuming entry was below the middle tine, if the price falls back through the middle tine the idea is to sell on the first close below. This occurred in late September. Price now looks like hitting the lower tine and channel support at about the same time. It is interesting to note that on a day when most other nickel shares went up, MCR went down yesterday.
That is not a good sign.

And here is an up to date pitchfork.
Having said that, the channel is encouraging. Or it could be a bearish flag.


Have a look at PEM, MRE and PAN.
If you were looking to but one of these four today, which one would you omit immediately ?
Now Ivor, might advocated holding on to MCR no matter what comes next and he may well be proven right, but this is leaving a trade to chance. And chance should have no part to play in a trader's tool box.
Su what next ?
The DOW is poised for what could be the start of the correction most taking heads have been expecting for some time. What do you Peter do if the SP falls below channel support and lower tine ?
Do you hold to minor support @ $2.24 or major support @ around $2.10 - $2.12 ?
And how do you guys see the channel ?
A bullish one with higher highs and higher lows or do you see a bearish flag ?





The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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bridog
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Saturday, October 24, 2009 - 10:39 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi all,

I like to trade MCR on its volatility and finding the lack of it over the last couple of months a bit frustrating. Unfortunately I've recently had to liquidate more than I'd like to cover an upcoming tax bill . . aaarghh!

However I still have a good core holding and am a strong believer in Mincor's future based on their track record, depending of course on the future AUD price of nickel on which they are 100% dependant.

All looks good at the moment and they should surprise on the upside next week on releasing last quarter's report.

That may give shares the boost to break out of the going nowhere price band.

Cheers


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muzza
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Saturday, October 24, 2009 - 12:20 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



G'day Peter

Thanks for the kind words - I havent been able to contribute much in recent times because an illness that has knocked me about a bit. On the mend now and hopefully can resume trading and learning more from the good folks on IC.

Hershey - its hard to understand why anyone would hold, come-what-may, unless of course there are some deep fundamentals that the person has insight to? - Re "Trading" - even if one looks at a secular trend on very long terms charts, it is wise (my opinion only) to then go in and out of a stock based on weeklies? - so as to exercise ones capital appropriately?

I hope I have articulated what I am trying to say clearly.

For me, if MCR hits the stop that I have been trailing then I'm out.

Over the years I have observed that Peter is pretty darn good with those Bollingers - I was contemplating getting out of this earlier w/o hitting the stop.

But of course I am also keenly watching S&P for the general market sentiment and Baltic Dry for commodities

cheers
Muzza


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bridog
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Monday, November 23, 2009 - 12:58 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Bought some MCR at $1.93 on long time buy trigger. Chart may look like crap but gotta be good value . .


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peterloh
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bridog,

Look like the selling has been way overdone on this one, probably by shorters. At this level, it should be turning around as MCR is being run profitably even during the GFC period and pay a reliable dividend.Sentiment can turn around quickly and I am incline to think MCR should be turning around any time now.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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bridog
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Monday, November 23, 2009 - 06:17 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Peter,

Agree 100%. Granted nickel prices have dropped and LME stocks lifted recently, MCR is still in profitable territory and scoring runs.

Cheers







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peterloh
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Friday, August 06, 2010 - 03:49 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Bridog,

How things have changed since we last visited MCR? The nickel price has gone up substantially and is now over $21,000 + again. MCR has also increase its reserve by 37%. It is one of the middle size company which has consistently paid a dividend since year 2003.This company has no debts at all, fancy that, and if it does not grow, it would be a nice fit for MRE which is aso cash up with no liabilities. If MCR is not merged or taken over by a bigger or similar size company, it will have to do something with its cash.
Either a higher dividend or a return of capital is in line.

Of late I have been watching MCR closely and bought some at $1.91. It has on several attempts tried to break out of $2.03 which provide strong resistance. The Bollinger Bands are tightening for MCR and I think it is a matter of time before the breakout. I anticipate it to be fairly soon. The last time it did something like this, it went up over 20%.DYOR.







Cheers

Peter


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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